Report : North America 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 North America Poultry Feed Market during 2019–2028
According to a new market research study on “North America Poultry Feed Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Poultry Type, Form, and Category,” is expected to reach US$ 28,270.57 million by 2028 from US$ 23,676.04 million in 2021. The market is estimated to grow at a CAGR of 2.6% from 2021 to 2028. Rising demand for compound feed in poultry is the major factor driving the growth of the North America poultry feed market. However, volatility in raw material prices may hinder the growth of North America poultry feed market. The report provides trends prevailing in the North America poultry feed market along with the drivers and restraints pertaining to the market growth.
The COVID-19 pandemic negatively impacted the demand for poultry feed in North America, as it caused significant disruptions in manufacturing and raw material sourcing. These undesirable circumstances resulted in disruptions in poultry consumption, which created significant challenges for the broiler industry in the region. Reduced food-service consumption caused rapid changes in chicken demand, resulting in decreased poultry production. According to the US Department of Agriculture (USDA), egg production totaled 8.81 billion in June 2020, down by 4% from last year in the US. In the country, chicken meat export got discontinued due to emerging risks of contracting COVID-19. However, the market is reviving due to government's growing measures, such as vaccination drives. With an improved economic outlook and easing COVID-19-related production problems, the demand for poultry feed is expected to improve in the coming years.
The North America poultry feed market is segmented into poultry type, form, category, and country. Based on poultry type, the North America 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 North America poultry feed market is segmented into organic and conventional. In 2020, the conventional segment accounted for the largest revenue share. Based on form, the North America 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 North America poultry feed market is segmented into US, Canada, and Mexico. The US accounts for largest market share in the 2020.
ADM; Alltech.; Cargill, Incorporated.; Charoen Pokphand Foods PCL; De Heus Animal Nutrition.; Kent Corporation; Land O'Lakes, Inc.; and SHV Holdings; are among the leading companies in the North America 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 2020, ADM collaborated with the Department of Poultry Science in Auburn University’s College of Agriculture to conduct research into poultry feed enzymes. The company is focusing on building its capabilities in enzyme development to accelerate new product development and improve the production efficiency of existing products.
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