The global poultry market comprises farming of domesticated birds like chickens, turkeys, ducks, and geese, primarily for their meat and eggs. Poultry meat is highly preferred as it is an excellent source of protein, vitamins, and minerals. It is also considered more sustainable and environment-friendly compared to red meat. The growing preference for white meat over red meat along with the increased demand for protein sources have been boosting the poultry market.

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:
The growing demands for protein sources across the world has led to significant increase in poultry production over the past few decades. According to data by Food and Agriculture Organization of the UN (FAO), global poultry meat production has grown by over 130% from 2000 to 2019. Countries like China, Brazil and US are the leading producers of poultry meat globally. The rising incomes and changing dietary preferences towards white meat have been driving this key market trend of increasing demands for protein sources worldwide.

SWOT Analysis

Strength: The poultry market has strong demand from consumers across regions. Poultry meat is low in fat and calories making it a popular choice.

Weakness: High feed costs significantly impact the profit margins of poultry farms. Outbreaks of diseases can badly affect poultry production.

Opportunity: Growing health awareness is increasing demand for protein-rich poultry meat. Developing regions offer large untapped market opportunities.

Threats: Stringent regulations around animal welfare and environment protection increase compliance costs. Threat from substitute meat products.

Key Takeaways

The Global Poultry Market Share is expected to witness high growth. Improved infrastructure for poultry farming and rising disposable incomes are driving the market in developing countries. 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.

North America currently dominates the market owing to large production and consumption of poultry products in countries like the US. The Asia Pacific region is expected to be the fastest growing market over the forecast period supported by increasing meat consumption in populous countries such as China and India.

Key players operating in the poultry market are AstraZeneca, CorMedix, Inc., Citius Pharmaceuticals, Fresenius Medical Care, Glenmark Pharmaceuticals Ltd., Geistlich Pharma, Merck & Co., Inc., Pfizer, TauroPhar GmbH, and Xellia Pharmaceuticals Ltd. These players are focusing on expanding to emerging markets through strategic collaborations and mergers and acquisitions. Technology innovations for breeding high quality chickens are also shaping the competitive landscape.

Get more insights on this topic: https://www.ukwebwire.com/poultry-market-demand-share-analysis/

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