Poultry Market by Species Type, Distribution Channel – Global Industry Insights, Trends, Outlook, and Opportunity Analysis
The group of domesticated birds such as chicken, geese, and ducks is referred as poultry, which provide food and fiber. Poultry industry is rising continuously, owing to an increasing population and their purchasing power, which is fueling the growth of poultry market. According to the World Bank, the world population was 7.6 billion in December 2017 and is expected to reach 11.8 billion by 2100. Furthermore, poultry is most preferred form of meat and it is relatively less expensive, which in turn is driving the growth of poultry market. Poultry is the most widely consumed type of meat coupled with eggs worldwide. It is a rich source of protein. However, high prevalence of diseases such as avian influenza, fowl cholera, infectious bursal disease, and others due to production of poultry in Europe and Asia Pacific region is one of the factor hindering the growth of poultry market.
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Among species type segment, chicken accounted for the largest market share in terms of revenue, owing to increasing consumption of chicken due to its nutritional benefits as compared with other meat such as lamb and beef, which have low iron content. According to the Australian Chicken Meat Federation (ACMF), the global demand for chicken meat is expected to increase over 400 MT (million tons) by 2030. Furthermore, chicken is the cheapest of all domestic livestock meat, which increases its demand in low income economies such as Africa.
Poultry -Market Outlook:
North America has the largest poultry market, followed by Europe and Asia Pacific. This is attributed to increasing demand for the poultry product, leading to rising poultry production in this region. According to United States International Trade Commission, in 2012, nearly 9.2 billion broiler chicks and poults were hatched for production of meat in the U.S. The U.S. is the largest consumer for chicken poultry meat and per capita consumption in America was 84 billion pounds during 2012. Furthermore, increasing awareness among consumers that poultry is an easier protein as a complement to a wide range of vegetables, fuels the growth of poultry market growth in North America.
The production of poultry was fueled by reduction in pig meat production coupled with increase in pork prices in Asia Pacific region. The Food Safety and Standards Authority of India (FSSAI), Government of India, regulates the poultry slaughter and processing sector through Food Safety and Standards Regulations (FSSR). Furthermore, increasing population and rising income of the population is driving the market growth. According to United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), in 2016, the population was 4.5 billion in Asia Pacific region and covers near about 60% of the world’s population. The growing consumption of bakery products and high protein diet recommended by gym trainers, results in burgeoning growth of poultry market.
However, an outbreak of avian influenza in various economies such as China and India, resulting in low poultry meat consumption as this may cause severe disease or illness among humans such as acute respiratory distress, and neurological changes is negatively affecting the growth of poultry market.
According to Association of Poultry Processors and Poultry Trade in the EU (A.V.E.C.), in Europe, the poultry meat is considered as an important meat and its annual production is nearly 13 MT (Million Tons) per year along with an approximate consumption of twenty three kilos per capita per year.
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The poultry manufactures are adopting various strategies such as mergers and acquisitions to sustain their market positions. In 2017, BRF S.A., one of the key player in poultry market acquired majority share in Banvit, which is the largest poultry integrator in Turkey, to expand their global presence.
Some of the major market players operating poultry market include JBS S.A., Tyson Foods, Inc., BRF S.A., Wen’s Food Group, Pilgrim’s Pride Corp, Perdue Farms, Sanderson Farms, Baiada Poultry Company, Bates Turkey Farm, Inc., and Suguna Foods Private Limited.
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