Poultry refers to domesticated birds raised for their eggs, meat, or feathers. Chicken, turkey, duck, and geese are some common types of poultry that are farmed commercially. Poultry meat is considered a rich source of protein and essential nutrients such as vitamin B3, selenium, phosphorus. It is widely consumed as a meat substitute and its products are used to prepare a variety of cuisines worldwide. The global poultry industry consists of organized commercial farms that practice large-scale contract growing and vertical integration for raising and processing birds. Adoption of advanced genetic practices, use of specialized poultry equipment and automation has helped boost productivity and meet the surging demand for affordable meat protein.

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 Dynamics:
Rising demand for protein-rich food owing to rapidly growing global population is a key driver propelling growth of the poultry market. Poultry meat satisfies the nutrition requirement of protein and is much more affordable compared to alternative meat sources. According to UN data, global population reached nearly 8 billion in 2023 and is estimated to touch 9.7 billion by 2050, thus fuelling additional demand for poultry and animal protein. Furthermore, ease of poultry farming, short production cycles and higher productivity have encouraged many farmers and food processors to invest in its commercial production and associated infrastructure. This has boosted supply and availability of poultry products across geographies over the recent past. However, these practices also face sustainability challenges associated with high pollution loads, disease outbreaks, and humane treatment of farm animals. Stricter regulatory policies and compliance to environmental standards need to be maintained to ensure long term growth of the industry.

SWOT Analysis

Strength:
- Poultry meat is a good source of high-quality protein and contains essential vitamins and minerals like selenium, phosphorus, vitamins B3 and B6.
- The poultry industry provides employment to a large number of people across rural and urban areas of many countries by means of commercial poultry farms.
- Countries like the United States and Brazil have developed advanced poultry farming techniques and infrastructure over the years which has helped them become global leaders in poultry production.

Weakness:
- Outbreaks of deadly bird flu disease can negatively impact poultry farming and trade. Strict biosecurity protocols need to be consistently followed to prevent disease spread.
- Fluctuating feed costs significantly impact profit margins for poultry farmers as corn and soybean are key ingredients in poultry feed.

Opportunity:
- Rising global meat consumption driven by population and income growth in developing nations offers new markets for poultry exporters.
- Adapting poultry farming for production of specialty high-value products like pasture-raised, free-range, and organic chicken can fetch higher prices.

Threats:
- Trade barriers like tariffs can restrict international trade flows of poultry meat and live birds between countries.
- Spread of animal welfare activism campaigns against intensive farming practices may impact consumer demand in certain markets.


Key Takeaways

The global poultry market size is expected to witness high growth over the forecast period between 2023 to 2030 backed by rising global protein demand. The market size in 2024 is projected to reach US$ 15.88 Mn registering a CAGR of 5.6% during the forecast period.

Regional analysis: Asia Pacific region currently dominates the global poultry market with largest production and consumption attributed to countries like China, India, and Brazil. China is the largest producer, consumer, and exporter of poultry globally. Meanwhile developed markets in North America and Europe are shifting towards specialty free-range and organic chicken segments.

Key players: 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. The market players are focused on expansion initiatives and implementing advanced farming technologies to further strengthen their presence across regions.

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