Global Poultry Feed Premix Market - Analysis, Trends and Forecasts (2018 - 2023)
Global population is expected to reach 9 billion by 2050, food and nutrition industries must meet the need for the growing population through increased production and reduced wastage. Poultry is an important source of animal protein, resulting in a rapidly expanding of global poultry production. Consequently, there is a high demand for poultry feed premix. Poultry meat consumption is devoid of any religious impact hence, it is the largest meat segment in the world. The major reason for surge in demand of poultry meat is the increased consumption of processed poultry in Asian countries. The growth in consumption has created a compulsion on farmers to maintain the production growth rate same as consumption to balance the demand supply chain. Failing to do so may have an effect on the cost of poultry meat. The rising health awareness among the consumers in developed countries for high-quality products is steering the growth of the market. The millers and livestock breeders are switching to feed premix to keep the uniformity in the diet of the poultry animals. The feed premix industry is in introduction phase in Asia and South America and growth of the market is forecasted to be faster than other developed countries. The poultry industry in these countries also benefits from lenient feed related regulations.
Rising Demand from Quick Service Restaurants
The quick service restaurant industry was designed around the concept of providing fast and convenience dining experiences at a relatively low cost. A significant marketing segment for the quick service restaurant industry is college age students ( 18 to 24 years of age). College age students often face issues with time management, striving to find balance between school, work, and social life. College age students often face financial and time constraints. The quick service restaurant industry has been able to capitalize on this dilemma by offering college students a quick, easy and inexpensive solution for their nutritional needs. To increase or maintain college student market share, innovation and customization in food menu is one of the key factors driving the growth of the quick service restaurants. The extensive consumption of poultry meat across the world makes it the most widely used meat in the quick service restaurant industry, giving rise to increased consumption of poultry feed premix.
Growth in poultry Premix use in the Middle East
Saudi Arabia’s output of chicken meat and eggs are thought to have continued their upward trends in 2017 with broiler meat output reaching 760,000 tons, slightly increasing from the 755,000 tons recorded in 2016, while table egg production rose by 2 percent to stand at 5.1 billion.
Output of broiler meat in Saudi Arabia is expected to continue upwards for the foreseeable future, reports the US. Department of Agriculture (USDA). The Saudi government has set a strategic goal of satisfying 60 percent of local demand within the next five years, and several development projects are in place to help reach that target. For example, the country’s largest poultry producer, Al-Watania, is in the process of constructing a mega poultry farm in the province of Al-Jour, which is expected to be operational by 2020. The farm will increase the company’s daily production of broilers from 820,000 to 1 million. Table egg production is planned to rise by 1.5 percent to 3 million eggs per day. Moreover, Saudi Arabia may have one of the highest levels of per capita poultry meat consumption in the world at 51 kg. This is causing a rise in production and import of poultry feed premix in the region.
March 2018: The Netherlands-based producer of animal feed and nutritional service specialist, Trouw Nutrition, opened its first manufacturing unit in Myanmar.
February 2017: Land O’Lakes, acquires Southern States Cooperative, Inc.’s animal feed business.
Major Players: CHAROEN POKPHAND, CARGILL INC., LAND O LAKES FEED, DBN GROUP, AND ARCHER DANIELS MIDLAND, amongst others.
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Study on the adoption of industrial Poultry feed premix in developing regions and its effects on the global feed premix industry.
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