The Global Poultry Market Is Estimated To Exceed Market Trends Towards Sustainability With The Adoption

Poultry Market

The poultry market consists of products from chickens, turkeys, ducks and others that are farmed commercially for their meat and eggs. Globally, chicken meat and eggs account for the largest share in terms of production. Poultry products are a good source of protein and various vitamins and minerals. They are widely preferred owing to their low cost as compared to other meats. With increasing health consciousness, demand for lean poultry meats like chicken breast is rising. Further, eggs are considered superfood due to their nutritional profile.

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 2024 to 2031.

Key Takeaways

Key players operating in the poultry are AstraZenecaCorMedix, Inc.Citus PharmaceuticalsFresenius Medical CareGlenmark Pharmaceuticals Ltd.Geistlich PharmaMerck & Co., Inc.PfizerTauroPhar GmbHXellia Pharmaceuticals Ltd. The market is concentrated with the top players accounting for a major share. Companies are investing in sustainable practices and focusing on organic, free-range and antibiotic-free offerings to tap increasing demand.

The demand for Poultry Market Trends is witnessing strong growth globally, driven by rising disposable incomes, growing population, and changing dietary preferences. Especially in developing regions, poultry provides an affordable source of protein. This is supporting market expansion.

Further, companies are focusing on global expansion into emerging countries through partnerships, mergers and acquisitions to cater to the growing demand. For example, major players have expanded into Asia Pacific and Latin America in the last few years.

Market key trends

One of the key trends gaining traction in the poultry market is the adoption of green farming practices to reduce environmental impact. There is increasing focus on sustainability and companies are switching to organic and free-range methods of farming. This involves giving birds access to outdoors, use of organic feed without antibiotics and hormones. It is aimed at offering ethical options to health-conscious consumers. This transition to environment-friendly production presents significant opportunities for market players.

Porter’s Analysis

Threat of new entrants: The poultry market requires high initial capital investment for setting up farms, processing units and distribution network. This acts as a barrier for new companies.

Bargaining power of buyers: Buyers have moderate bargaining power in the form of large retail chains and food suppliers. However, established brands have strong customer loyalty.

Bargaining power of suppliers: A few major companies dominate the supply of feed and young chicks. This gives them significant influence on prices in the upstream supply chain.

Threat of new substitutes: Alternatives like red meat, fish and soy products pose minimal threat as poultry is preferred for its low price and healthier perception.

Competitive rivalry: The market has few major global players competing intensely on pricing, product innovation and contracts with suppliers/buyers. Small players have difficulty negotiating deals.

Geographical regions

North America accounts for the largest share currently due to strong consumption and production volumes in countries like the US and Mexico.

The Asia Pacific region is expected to witness the fastest growth during the forecast period. Developing economies such as China, India and Indonesia are seeing rising affluence and meat consumption, propelling the poultry market.

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