The Global Poultry Market Growth Accelerated By Rising Demand For Protein-Rich Food

 

Poultry Market 

The poultry market comprises poultry meat and poultry products that are used as an affordable source of protein. Chicken and turkey provides high-quality protein as it is lean, low in fat and calories. Rising health consciousness among consumers have increased the demand for protein-rich food especially chicken and turkey.

The global poultry Market is estimated to be valued at US$ 15.88 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends driving the growth of the poultry market is rising demand for protein-rich food. Consumers are increasingly preferring chicken and turkey as an alternative protein source over red meat due to various health benefits. Chicken meat is lower in fat, calories and cholesterol compared to beef and pork. It contains high-quality proteins that help build muscles and organs. Turkey is also a good source of proteins, vitamins, and minerals. The amino acids present in poultry help absorb nutrients which aid in weight management and muscle building. Rising health consciousness among population around the world regarding risks associated with excessive red meat consumption is propelling the demand for poultry products. This growing demand acts as a major growth driver for the global poultry market during the forecast period.

Segment Analysis

The global poultry market is dominated by the broiler segment which accounts for over 80% of the market share. Broilers are young chickens raised specifically for meat production. They have been bred to grow very quickly, reaching market weight in around 6 weeks. They require less feed per pound of weight gained compared to other types of poultry like layers and roosters. This makes broilers the most cost effective and efficient source of poultry meat production, driving their dominance in the market.

Key Takeaways

The global poultry market analysis is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising global meat consumption. The global poultry Market is estimated to be valued at US$ 15.88 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030.

Regional analysis shows that Asia Pacific currently dominates the market with a share of over 50% in 2024, led by China, India and other Southeast Asian countries. The region is anticipated to continue its dominance through 2030 on account strong economic growth and increasing disposable incomes in developing countries which is boosting meat expenditures.

North America is the second largest poultry market globally, supported by demand from the United States. Large scale production and processing facilities in the US have made it one of the top poultry meat exporters worldwide. However, competition from other major producers and stringent regulations surrounding antibiotic use are factors expected to limit market growth in North America over the forecast period.

Key players operating in the poultry market are AstraZeneca, CorMedix, Inc., Citus Pharmaceuticals, Fresenius Medical Care, Glenmark Pharmaceuticals Ltd., Geistlich Pharma, Merck & Co., Inc., Pfizer, TauroPhar GmbH, Xellia Pharmaceuticals Ltd. Leading poultry producers are focusing on capacity expansions, investment in technological advancements for automation, and supply chain logistics to meet growing global demand while minimizing production costs. Companies are also developing antibiotics alternatives to tackle increasing concerns of antibiotic resistance associated with poultry meat

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