Surge in consumption of poultry meat and changes in consumption patterns drive the growth of the global poultry feed market.

PORTLAND, OR, UNITED STATES, September 2, 2021 /EINPresswire.com/ -- Poultry Feed Market generated $114.99 billion in 2018, and is expected to reach $157.77 billion by 2023, manifesting a CAGR of 6.9% from 2018 to 2023. The report provides valuable data on changing market dynamics, key segments, top investment pockets, and competitive scenario for market players, new entrants, investors, and shareholders.

Increase in population base is a key factor that boosts the food demand, which in turn is anticipated to fuel the growth of the market. In addition, rise in consumption of poultry and development of advanced feed formulations supplement the market growth. However, increase in raw material prices such as maize and corn and prevalence of diseases such as bird flu are expected to dissuade the market expansion during the poultry feed market forecast period

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The report provides detailed information based on the key determinants of the market to help market players in devising growth strategies and capitalizing on opportunities. Rise in consumption of poultry meat and changes in consumption patterns fuel the growth of the global poultry feed market. Whereas, prices of poultry feed and prevalence of diseases from poultry restrain the market growth. Moreover, rise in global population and increase in demand for fast food & processed food offers lucrative opportunities in the market.

The report provides a detailed scenario of impact of the Covid-19 pandemic on the poultry feed market globally. The outbreak of the pandemic led to suspension of most business and manufacturing units across the globe. The poultry feed market has witnessed numerous challenges including disruption of supply chain and shortage of raw materials. However, the essential services were instructed to be opened during the lockdown. In addition, the government bodies are now initiating to ease off certain regulations, owing to which the market is expected to recoup soon.

The report offers detailed segmentation of the global poultry feed market on the basis of feed type and region. These insights are helpful for the new entrants as well as current market players to capitalize on the fastest growing and highest revenue generating segment to accomplish growth in the coming years.

Based on products, the complete feed segment dominated the market with major share in 2018, holding for more than 85% of the total market share in 2018, and is estimated to maintain its dominance during the forecast period. On the other hand, the concentrates segment is projected to manifest the fastest growth rate with a CAGR of 8.6% from 2019 to 2023.

Based on region, the Asia-Pacific region held the highest market share, accounting for nearly one-third of the total share in 2018, and is estimated to maintain its dominant position during the forecast period. Furthermore, the region is also expected to grow at the fastest CAGR of 9.3% from 2019 to 2023. Moreover, the other regions studied in the report include North America, Europe, and LAMEA.

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Leading market players of the global Poultry feed market analyzed in the report include Cargill Inc., Cargill Inc., Land O’Lakes, Inc., Tyson Foods, Inc., Alltech, ADM Animal Nutrition, Perdue Farms Inc., J.D. Heiskell & Co., Kent Nutrition Group, Inc., Hi-Pro Feeds, Inc., and Southern States Cooperative.These players have adopted various strategies such as product launch, acquisition, and expansion to expand their foothold in the poultry feed industry.

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David Correa
Allied Analytics LLP
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