At 9.1% CAGR, Asia Pacific Poultry Vaccines Market is Projected to be Worth US$ 1,514.33 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific poultry vaccines market was valued at US$ 752.66 million in 2023 and is anticipated to reach US$ 1,514.33 million by 2031, registering a CAGR of 9.1% from 2023 to 2031. Growing poultry industry and government support for mass vaccination drives & innovative schemes are among the critical factors attributed to drive the Asia Pacific poultry vaccines market growth.

According to the US Department of Agriculture (USDA) report, poultry has become the most consumed livestock commodity worldwide in the past two decades, particularly in developing and emerging markets. Also, poultry is expected to remain the world's largest imported livestock commodity by volume in the next 10 years as per the same USDA report. The demand for poultry products and imports is rising worldwide. As rising disposable incomes, consumers shift toward purchasing animal-based poultry products comprising high content of proteins, specifically chicken. With rapid urbanization in many developing economies and emerging markets such as Southeast Asia and Sub-Saharan Africa, poultry products provide consumers with an affordable option for purchase as poultry products comprise high protein content and are more readily available as compared to other meat-based products that are expensive. To match the demand and supply of poultry products, several countries are focusing on domestic poultry production. These countries include the US, Brazil, the European Union (EU), and Thailand, which are also major poultry exporters. According to the Council on Foreign Relations 2024 report, the US, Brazil, the European Union, and Thailand account for 71% of the world's poultry exports in 2021. Further, from 2001 to 2021, global poultry imports rose to an average of 4% year-on-year (y-o-y), reaching 14.2 million metric tons of production in 2021. With poultry products remaining high in demand worldwide and countries focusing on domestic livestock production, the demand for vaccination is also growing. Thus, the growing poultry industry fuels the poultry vaccines market growth.

On the contrary, vaccination failure and improper handling hamper the growth of Asia Pacific poultry vaccines market.

Based on type, the Asia Pacific poultry vaccines market is bifurcated into broiler and layer. The broiler segment held 64.1% market share in 2023, amassing US$ 482.36 million. It is projected to garner US$ 994.80 million by 2031 to register 9.5% CAGR during 2023–2031.

In terms of technology, the Asia Pacific poultry vaccines market is segmented into live attenuated vaccines, inactivated vaccines, and recombinant vaccines. The live attenuated vaccines segment held 53.4% share of Asia Pacific poultry vaccines market in 2023, amassing US$ 401.72 million. It is projected to garner US$ 819.32 million by 2031 to register 9.3% CAGR during 2023–2031.

By dosage form, the Asia Pacific poultry vaccines market is segmented into liquid vaccines, freeze-dried vaccines, and dust/powdered form vaccines. The liquid vaccines segment held 48.8% share of Asia Pacific poultry vaccines market in 2023, amassing US$ 367.07 million. It is projected to garner US$ 766.08 million by 2031 to expand at 9.6% CAGR from 2023 to 2031.

Based on type of disease, the Asia Pacific poultry vaccines market is categorized into avian influenza, infectious bronchitis, Marek's disease, avian salmonellosis, infectious bursal disease (IBD), Newcastle disease, and others. The avian influenza segment held 27.1% share of Asia Pacific poultry vaccines market in 2023, amassing US$ 204.15 million. It is predicted to garner US$ 433.48 million by 2031 to expand at 9.9% CAGR between 2023 and 2031.

By route of administration, the Asia Pacific poultry vaccines market is segmented into drinking water (D/W), intramuscular (I/M), subcutaneous (I/S), and others. The drinking water (D/W) segment held 40.3% share of Asia Pacific poultry vaccines market in 2023, amassing US$ 303.17 million. It is estimated to garner US$ 636.30 million by 2031 to expand at 9.7% CAGR during 2023–2031.

In terms of end user, the Asia Pacific poultry vaccines market is categorized into poultry farms & hatchery, veterinary hospitals, and poultry vaccination enters & clinics. The poultry farms & hatchery segment held 49.6% share of Asia Pacific hearing aids market in 2023, amassing US$ 373.65 million. It is projected to garner US$ 781.75 million by 2031 to expand at 9.7% CAGR from 2023 to 2031.

Based on country, the Asia Pacific poultry vaccines market is categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 67.8% share of Asia Pacific poultry vaccines market in 2023. It was assessed at US$ 510.52 million in 2023 and is likely to hit US$ 1,043.61 million by 2031, registering a CAGR of 9.3% during 2023–2031.

Key players operating in the Asia Pacific poultry vaccines market are Boehringer Ingelheim International GmbH, Zoetis Inc, Phibro Animal Health Corp, Hester Biosciences Ltd, Venky's (India) Ltd, Dechra Pharmaceuticals PLC, Elanco Animal Health Inc, Merck KGaA, Ceva, Nisseiken Co Ltd, and Vaccinova AB, among others.

• In December 2021, Venkys (India) is setting up a new project for the manufacturing of Veterinary Medicine Products under its Animal Health Product Segment. This plant will cover up to 600 Tones/Annum of veterinary medicine.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com