Poultry Meat is the largest segment driving the growth of Poultry...

Poultry Meat is the largest segment driving the growth of Poultry Market

نشر بتاريخ 2023-11-06 10:39:04

1كيلو بايت

The global Poultry Market is estimated to be valued at US$ 15.88 Mn or Mn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Poultry refers to domesticated birds kept by humans for their eggs, meat, feathers, and other products. It includes chickens, ducks, geese, turkeys, and other fowl. Poultry meat and eggs are rich in protein and essential nutrients that support overall health and wellness.

Market key trends:
The rising demand for high-protein food drives the growth of the poultry market. Poultry meat such as chicken is low in fat and calories yet high in protein content. It is considered a healthier alternative to red meat. Moreover, growing health consciousness among consumers has increased the demand for protein-rich diets. This is encouraging poultry farmers and meat processors to expand their production capacities, thereby boosting the poultry market size. Changes in consumer food preferences and rising per capita income levels in developing nations further support the market growth.

Market key trends:
The poultry market has been witnessing rising demand for processed and packaged meat products. With increasing urbanization and busy lifestyles, there is a growing preference for ready-to-eat and cooked poultry meals that save time. Moreover, factors like food safety concerns regarding fresh meat are further boosting the processed poultry segment. Various players have been launching innovative product types like nutritious chicken nuggets and burgers to cater to changing consumer preferences.

SWOT Analysis
Strengths: The poultry industry offers nutritional meat products at affordable prices. It also has a well-established supply chain and production network globally.
Weaknesses: Poultry farming requires large capital investments and involve risks associated with disease outbreaks. It also faces stringent regulations pertaining to animal welfare and environment protection.
Opportunities: Rising health-consciousness is creating scope for companies to offer protein-rich chicken products. The growing fast food culture also increases the demand for processed poultry .
Threats: Volatility in feed prices can impact margins. Moreover, non-vegetarianism is an issue in some cultures limiting market potential.

Key Takeaways
Global Poultry Market Demand is expected to witness high growth, exhibiting CAGR of 3.5% over the forecast period 2023 to 2030, due to increasing demand for meat products amid rising global population. The market size for 2023 is estimated to be US$ 15.88 Mn.

Regionally, Asia Pacific commands the major share of the poultry market currently due to huge consumer base and growing meat consumption in countries like China, India. Countries like Brazil and USA also offer substantial growth opportunities owing to advanced production facilities and leading export volumes.

Key players operating in the poultry market are Tyson Foods, Inc., JBS S.A., Pilgrim's Pride Corporation, Wens Foodstuff Group Co. Ltd., BRF S.A., Perdue Farms, Sanderson Farms, Baiada Poultry, Bates Turkey Farm, and Amrit Group. These companies have been focusing on capacity expansions as well as investments in innovative product development to strengthen their positions.