The poultry vaccine market provides crucial vaccines to protect poultry from several infectious diseases that could potentially threaten flocks and meat/egg production globally. Poultry vaccines control infections like Newcastle disease, avian influenza, infectious bronchitis, and others that can significantly reduce production. The vaccines boost immunity and help maintain productivity levels and animal welfare standards without overprescribing antibiotics. They shield chickens and turkeys from viral and bacterial infections that spread rapidly in confined poultry farming practices adopted worldwide.
The global Poultry Vaccine Market is estimated to be valued at US$ 5.8 billion in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends
One of the key trends in the poultry vaccine market is the rising demand from the Asia Pacific region. Countries like China, India, Indonesia, and others have a very large poultry industry to meet the demand for meat and eggs from their growing population. According to the Food and Agriculture Organization, Asia Pacific accounts for over 60% of global poultry meat production. However, the high density farming practiced in the region increases the risk of disease outbreaks that can severely impact production. Thus, poultry farmers in Asia Pacific are increasingly vaccinating their flocks to protect them from viral and bacterial diseases. This growing demand from Asia Pacific is estimated to drive the growth of the global poultry vaccine market during the forecast period.
Threat of new entrants: Low, as the market requires high capital investment and threat from existing players.
Bargaining power of buyers: High, as buyers have several options to select from.
Bargaining power of suppliers: Moderate, as few large players operate in the market.
Threat of new substitutes: Low, as there are limited substitutes for vaccination.
Competitive rivalry: High, as key players compete based on pricing and innovation.
The global Poultry Vaccine Market Growth is expected to witness high growth.
Regional analysis: Americas hold a significant share currently majorly due to the US and Brazil being the major producers and consumers of poultry meat. Asia Pacific is expected to witness the highest growth with India, China, and various Southeast Asian countries driving the market. Increasing demand for animal protein and growing meat consumption in the region support market growth.
Key players: Key players operating in the poultry vaccine market are Merck & Co., Zoetis, Ceva Santé Animale, Romvac, and Crystal Pharma. Merck and Zoetis dominate the market with their wide vaccine portfolio and global presence.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it