Paragraph: Poultry farming is the raising of domesticated birds such as chickens, ducks, geese and turkeys for the purpose of farming meat or eggs for food. It is one of the major agricultural industries globally. Chicken meat or poultry meat is considered as an affordable source of protein, and its demand has been rising significantly with the growth of population and urbanization. Other poultry products like eggs are also widely consumed across various recipes in many cuisines. With changing lifestyle and food consumption patterns, there is an increasing demand for convenience foods wherein poultry ingredients are widely used.
The global poultry Market is estimated to be valued at US$ 15.88 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Growing Consumption of Meat Worldwide (refered from heading): One of the key drivers propelling the growth of the global poultry market is the rising meat consumption globally, especially in developing regions. With improving economic conditions, people are consuming more animal protein in their diets. According to OECD-FAO Agricultural Outlook, global meat consumption per capita is projected to increase by 13% during the period 2020 to 2029, led by growth in demand from Asia and Africa. This rising demand for meat will significantly drive the demand for poultry products in the coming years.
Rising Health Awareness: Another factor fueling the poultry market growth is increasing health consciousness among consumers. Compared to red meat, poultry meat and eggs are considered healthier options as they are lower in fat and cholesterol. Moreover, poultry is a good source of high biological value protein, essential vitamins, and minerals. More consumers are opting for poultry to meet their daily protein needs while also focusing on overall well-being. This rising health awareness regarding benefits of poultry consumption is promoting the market expansion.
The global poultry market can be segmented into two major segments based on type as Chicken, Duck, Turkey and others. Among these, the chicken segment dominates the market, accounting for around 60% share of the total market. Chicken is high in protein and low in fat, making it a very popular choice with health conscious consumers. Rising demand for protein-rich food has propelled the growth of chicken segment over the recent past.
Political: The poultry industry is regulated by various government policies and directives related to quality control, food safety, environmental protection etc. Stringent regulations around poultry farm licensing and operations impact the business environment.
Economic: Growth in disposable incomes and spending power of consumers has increased demand for animal protein such as meat and poultry. Higher feed prices and input costs pose economic challenges for poultry producers.
Social: Rising health awareness has boosted demand for lean meat like chicken. However, issues around animal welfare and carbon footprint of industrial poultry farming impact social acceptability.
Technological: Advanced automation solutions for poultry housing, feeding, egg collection etc. help improve productivity and yield. Technologies for nutrition management and disease control enable efficient production.
The global poultry market share is expected to witness high growth over the forecast period between 2023 to 2030, driven by rising demand for animal protein. The global poultry Market is estimated to be valued at US$ 15.88 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030.
The Asia Pacific region currently dominates the global poultry market accounting for over 35% share of the total market value in 2024. China, India and other South East Asian countries are major consumers in the region driven by changing diets and growing middle class. China accounts for over 30% of poultry meat production globally attributable to huge demand from a vast population of over 1.4 billion people. Rapid urbanization and growing health awareness is driving per capita consumption of chicken in the region.
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 and Xellia Pharmaceuticals Ltd. AstraZeneca and Pfizer are focusing on expansion in emerging Asian markets through strategic collaborations
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it