Report : Asia Pacific Poultry Feed Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Poultry Type (Layers, Broilers, Turkeys, and Others), Form (Pellets, Crumbles, Mashed, and Others), and Category (Organic and Conventional)
Broilers Segment to Dominate Asia-Pacific Poultry Feed Market during 2019–2028
According to a new market research study on “Asia-Pacific Poultry Feed Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Poultry Type, Form, and Category,” is expected to reach US$ 67,338.50 million by 2028 from US$ 51,713.46 million in 2021. The market is estimated to grow at a CAGR of 3.8% from 2021 to 2028. Growing demand for fortified poultry feed products is the major factor driving the growth of the Asia-Pacific poultry feed market. However, volatility in raw material prices may hinder the growth of Asia-Pacific poultry feed market. The report provides trends prevailing in the Asia-Pacific poultry feed market along with the drivers and restraints pertaining to the market growth.
The rumors, particularly on social media, linking poultry consumption as possible vectors for COVID-19 transmission led to a decline in the demand for poultry products. The lockdown measures caused severe disruptions in the poultry production, distribution networks, and inadequate availability of critical inputs, such as feed, significantly affected the growth and production of poultry birds in Asia-Pacific. The decline in domestic broiler meat demand due to the COVID-19 decreased poultry meat revenues and table egg demand. The closure of manufacturing plants declined the sales of poultry feeds. The pandemic also caused fluctuations in the prices of raw materials. However, governments of various countries have declared a stimulus package to provide financial assistance to small and medium farmers in rural areas. With the revival of the supply system and support from the government, the demand for poultry feed is expected to grow in the future. The market is expected to witness an increase in investment by players to utilize the prevailing opportunities and cater to expanding demand for poultry feed in the post-pandemic period.
The Asia-Pacific poultry feed market is segmented into poultry type, form, category, and country. Based on poultry type, the Asia-Pacific poultry feed market is segmented into broilers, layers, turkeys, and others. In 2020, the broilers segment accounted for the largest revenue share. Based on category, the Asia-Pacific poultry feed market is segmented into organic and conventional. In 2020, the conventional segment accounted for the largest revenue share. Based on form, the Asia-Pacific poultry feed market is segmented into pellets, crumbles, mashed, and others. In 2020, the pellets segment accounted for the largest revenue share. On the basis of country, the Asia-Pacific poultry feed market is segmented into China, Japan, India, South Korea, Australia, and rest of Asia-Pacific. China accounts for largest market share in the 2020.
ADM; Alltech.; Cargill, Incorporated.; Charoen Pokphand Foods PCL; De Heus Animal Nutrition.; Kent Corporation; and SHV Holdings; are among the leading companies in the Asia-Pacific poultry feed market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, ADM expanded its specialty feed ingredients portfolio to include a fiber-degrading enzyme for use with poultry and swine diets. The company is taking efforts to provide more options for producers.
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