Poultry Market Set For High Growth Due To Advancement In Poultry Farming Technologies
The poultry market comprises products such as chicken, eggs, turkey, ducks and other domestic birds that are commercially bred specifically for their meat, eggs or feathers. Poultry meat and eggs are a major source of protein in many countries and are more affordable than other meats like beef or pork. Advancements in poultry farming technologies such as automation, IoT monitoring systems and genetic selection have enabled higher production yields while reducing costs.
The Global poultry Market is estimated to be valued at US$ 18.3 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period from 2024 to 2031.
Key Takeaways
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. The rising global population and increasing demand for affordable protein sources present a major growth opportunity for players in the poultry market. Technological advancements such as automation, IoT monitoring and genetic selection of high-yield breeds have enabled higher production volumes while lowering costs of poultry farming.
Market drivers
The demand for Poultry Market Trends products is driven primarily by population growth and increasing demand for affordable protein sources. Rising disposable incomes in developing countries are also supporting greater consumption of protein-rich foods like chicken and eggs. Additionally, technological advancements in automation and monitoring systems for poultry farming have significantly boosted production capacities and yields globally. These factors are expected to propel the poultry market growth over the forecast period.
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