Poultry Market - 2023-2030

Overview

Global Poultry Market reached US$ 220.18 billion in 2022 and is expected to reach US$ 330.29 billion by 2030, growing with a CAGR of 5.2% during the forecast period 2023-2030.

Poultry and poultry products are receiving immense popularity in the global market due to their cost-effective and high-quality protein. According to USDA, poultry is estimated to be one of the top imported livestock commodities in coming years. The increased consumer awareness regarding the health benefits of poultry and poultry-based products drives market growth.

Poultry farming has lower maintenance and it is beneficial for farmers to easily produce sustainable poultry. The advancements in the cold storage and transport facilities for poultry products help expand the market. The greater versatility of chicken makes it one of the most popular meats. Poultry meat is used in various restaurant recipes and the food service sector, such as KFC.

Processed poultry products in various convenient ways in the form of snacks and fast foods are becoming one of the famous poultry products boosting the market growth. Rising population, growing urbanization and increasing disposable incomes among the worldwide population have a positive influence on the poultry market. According to APEDA, during 2022-2023, India exported 664,753.46 MT of poultry products, driving the Asia-Pacific region's market.

Dynamics

Growing Demand for Poultry Products

Consumers are changing their food preferences continuously to lead a healthy lifestyle. People always prioritize animal-based food products for their high protein content. Poultry eggs and meat are greater sources of healthy proteins and other nutrients like vitamins, minerals and essential fatty acids. It is affordable compared to other conventional meat.

According to USDA, an almost 86% increase in global poultry meat consumption was observed in the span of 20 years from 2001 to 2021. The significant rise in poultry meat consumption has a positive impact on the market size. USDA also reported that poultry imports globally are expected to reach 17.5 million tons by 2031, with Brazil and Sub-Saharan Africa as the top exporters and importers.

Advancements in Poultry Farming

The various technological improvements in the field of poultry farming are advantageous for the broader developmental expansion of the poultry market. Various emerging innovations in poultry farming focus on improving poultry animals' productivity and health. Innovative breeding techniques such as QTLs and microarray analysis facilitate breeders to produce better-functioning poultry strains.

The automation in the poultry housing enhances the overall housing system efficiently. Farmers are poultry farm holders who benefit from the various housing, health and nutrition advancements. Implementing modern innovation in this field can improve efficiency and enhance sustainability, boosting market growth.

Increasing Vegan Population

The growing health and environmental concerns drive the vegan population growth. The World Animal Foundation estimates that there are approximately 88 million vegans worldwide. Most people are now increasing their knowledge regarding the negative impact of animal-based diet patterns on the environment. Poultry rearing and meat production result in the emission of greenhouse gasses. Increasing poultry health problems such as avian flu can also threaten human health.

Increased consumer awareness about the advantages of the plant-based diet over animal-based diet can retrain the market growth. Health-conscious consumers prefer plant-based protein-based rather than animal-based due to their lower calories, fats and cholesterol amounts. The rising prevalence of lifestyle disorders drives veganism and hinder the poultry market.

Segment Analysis

The global poultry market is segmented based on type, product, nature, distribution channel, end-use and region.

Growing Popularity of Ready-to-Eat Foods

The global poultry market is segmented based on the product into seasoned, frozen, ready-to-cook, ready-to-eat and other types. The ready-to-eat segment of this market holds the largest share due to their convenience. People with busy lifestyles crave food products that are easy and convenient to eat. The new emerging products with various flavors help expand the segment.

The poultry market has several applications in preparing ready-to-eat processed food products. Hot dogs, sausages, and other processed products from poultry are gaining immense popularity globally, raising the segment growth. Further, the expansion of various food service sectors and the widespread use of KFC, Domino's Pizza, and other platforms that use poultry meat, mostly chicken, in their ready-to-eat meat product preparations positively impact the segment growth.

Geographical Penetration

Rising Demand for Poultry Meat in Asia-Pacific

Asia-Pacific region holds the largest share of the global poultry market. The growing population and need for more meat and meat products positively drive the market growth. Increased urbanization and growing disposable incomes of the people of this region raised their food product affordability boosting poultry sales.

The Ministry of Agriculture and Farmers Welfare estimates that around 129 billion eggs were produced in India in 2022. According to World Population Review 2023, China consumed over 21,555 tons of chicken. The increased production and consumption of poultry and poultry products boost the Asia-Pacific region's poultry market expansion.

Government support and actions to improve the poultry market make a significant effort to develop the larger region's market. For instance, the Indian Government, through the Department of Animal Husbandry, initiated a special National Action Plan for the Egg and Poultry 2022 to increase the farmer's income and meet the required protein intake of the growing population in the country. This program helps in increasing the poultry output.

Competitive Landscape

The major global players in the market include Bell AG, Plukon Food Group, Suguna Foods, BRF S.A., Hormel Foods Corporation, Tyson Foods Inc., Pilgrim's Pride Corporation, Sanderson Farms Inc., Maruha Nichiro Corporation and Wellhope Foods Co., Ltd.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic moderately impacted the global poultry market. The pandemic conditions made it difficult for the proper management of poultry farming. Poultry processing industries faced challenges due to reduced labor and other resources for the proper management of production and distribution. The reduced availability of raw materials for producing processed poultry products has an immense effect on the poultry market.

The shutdown of processing plants decreased the production and availability of poultry and poultry products. The strict regulations from the government resulted in the shutdown of many food service sectors, such as restaurants and fast food centers, decreasing the demand. The disruption in the supply chain activities, distribution channels, and import and export restrictions reduced economic activity.

Health-conscious people increased their poultry intake to provide the body with good protein and other nutrients to build their immunity. Frozen and ready-to-eat, and other convenient products were in high demand for their convenience. In addition, the increased use, accessibility and popularity of the e-commerce sector and the wide availability of raw, processed poultry products in online sales platforms increased the market demand.

Russia- Ukraine War Impact

The Russia-Ukraine war had a negative impact on many industrial sectors, including food. The labor shortage and a lack of resources for production badly impacted the poultry market. The interrupted processes at the industrial level reduced product production. The disrupted supply chain activities and distribution channels negatively affected production distribution and availability in the market, negatively influencing the market growth.

The Russia-Ukraine war resulted in food security issues all over. India exports poultry to Russia, for instance, 2,066 MT of poultry was exported from India to Russia in 2022-2023. The war created import and export trade disruptions, resulting in economic disturbances. The political and economic uncertainty created by the war had a negative impact on all industries, including the poultry market.

By Type

• Chicken
• Turkey
• Ducks
• Others

By Product

• Seasoned
• Frozen
• Ready-to-Cook
• Ready-to-Eat
• Others

By Nature

• Organic
• Conventional

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• E-Commerce
• Others

By End-Use

• Food Services
• Household

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In February 2023, Impossible Foods, a California-based company, announced the launch of a new range of chicken products, including spicy chicken nuggets, patties and tenders with new flavors.
• In August 2022, Pescafresh, India's first D2C brand, launched a new range of raw, ready-to-cook and ready-to-eat poultry meat products. The product is marketed as NAE chicken, and poultry is fed 100% vegetarian feed.
• In April 2022, One of India's chilled and frozen food brands, Prasuma, announced the expansion of its product line range by introducing frozen chicken nuggets, chicken spring rolls and other products.

Why Purchase the Report?

• To visualize the global poultry market segmentation based on type, product, nature, distribution channel, end-use and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of poultry market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global poultry market report would provide approximately 77 tables, 79 figures and 220 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies