the Poultry Feed market was valued at US$ 160.0 Bn in 2018 and expected to grow at a CAGR of 4.3% during the forecast period from 2019 to 2027.
“Application of insect larvae as a source of poultry feed drives the market growth”
The poultry sector is crucial in the agricultural growth and is particularly important as a source of protein and nutrition in household’s intake. For instance, the consumption data of egg in Bangladesh expected to be around 5,800 million by the year 2020. Thereby, increasing demand for poultry feed market over the forecast period. Moreover, the demand of wheat as poultry feed is about 8% of total domestic production, in addition, the demand if maize as poultry feed is 6 times as compared to its domestic production. The aforesaid factors are the key reasons for the growth of the market over the forecast period.
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“Increasing Demand for Poultry Meat Products supports the growth of the market”
Amino acid portion rose as the biggest section in terms of income in the year 2018 and is assessed to observe astounding development rate over the coming years. Amino corrosive is considered as one of the most significant wellsprings of protein and, accordingly, exceptionally required in poultry sustenance. Because of high protein content, amino corrosive lessens the consideration level of soybean feast in monogastric creature’s diet. Ethoxyquin is one of the significantly utilized manufactured cancer prevention agents. It is additionally one of the monetary cancer prevention agents and has high additive abilities attributable to which it is utilized in canned pet nourishments. Be that as it may, the interest for such cancer prevention agent has diminished in the ongoing past inferable from negative purchaser observations and symptoms with respect to engineered cell reinforcements.
In September 2018, The United States Food and Drug Administration (FDA) projected that AFFCO (Association of American Feed Control Officials) allowed the application of protein meal produced from insect larvae and completely dried insects in poultry feed. AFFCO and the FDA have been working in the poultry feed regulation space, especially in setting definitions that describe new ingredients in poultry feed. FDA suggests that the production of insect as feed can provide a sustainable source of proteins to poultry feed. Thereby, drives the growth of the poultry feed market globally.
Top manufacturers of Linseed oil are focusing to increase their product portfolio by launching new products in the market.
- In July 2018, PoultryPlus subsidiary of ForFarmers the company aims to improves poultry feed productivity, predominantly broiler stock, in turn facilitating enhanced profitability and reduced downtime.
Key Market Movements:
- Globally, the poultry feed market is rising at a CAGR of 4.3% for the estimated period from 2019 to 2027
- Asia Pacific dominated the global Linseed oil market in the year 2018 and expected to continue its dominance during the forecast period. The dominance supported by factors such as rising demand for poultry feed from china supports the growth of the segment.
- The additives segment sub-divided into vitamins, antibodies, antioxidants, amino acids, feed additives, feed enzymes and others. The amino acids holds the largest share in the overall poultry feed market in 2018 and expected to continue its reign during the forecast period.
List of Companies Covered:
- Alltech Inc.
- Novus International Inc.
- Kent Nutrition Group, Inc.
- Evonik Industries
- Royal DSM N.V.
- Cargill Inc.
- Tyson Foods, Inc.
- ADM Animal Nutrition
- Hi-Pro Feeds. Inc.
- J.D Heiskell & Co.
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