July 13, 2024
Poultry Market

Poultry Meat Is Fastest Growing Segment Fueling The Growth Of Poultry Market

The global Poultry Market is estimated to be valued at US$ 15.88 Mn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Poultry refers to domesticated birds raised for meat or eggs. Poultry meat is a rich source of protein and contains vital nutrients like vitamins and minerals. The growing demand for protein-rich food along with rising health consciousness is driving the growth of the poultry market globally.

Market key trends:
One of the major trends fueling the growth of the global poultry market is the rising demand for organic and natural meat products. Customers are showing preference for meat obtained from chickens raised without antibiotics and hormones. Many producers are replacing conventional feeds containing growth promoters and antibiotics with organic and natural feeds to meet the increasing demand for clean-label products. Moreover, advancements in poultry farming and processing technologies are helping players improve efficiency, protect food safety, and meet international quality standards. This is expected to have a positive impact on the market revenue over the forecast period.

Segment Analysis
The global poultry market is segmented on the basis of product type, poultry type, distribution channel. Based on product type, the market is segmented into chicken, duck, turkey and goose. The chicken segment dominates the market owing to high consumption of chicken meat across various geographies. Chicken meat is low in fat and calories. Broilers sub-segment dominates the overall chicken segment owing to rising demand for cheap meat.

Key Takeaways

Market size
Global Poultry Market Demand is expected to witness high growth, exhibiting CAGR of 3.5% over the forecast period, due to increasing meat consumption as protein source.

Regional analysis
North America dominates the global poultry market. The U.S. accounts for majority share in the regional market due to high production and consumption of poultry products. Asia Pacific exhibits fastest growth due to rising meat consumption in countries such as China and India.

Key players
Key players operating in the poultry market are Tyson Foods, Inc., JBS S.A., Pilgrim’s Pride Corporation, Wens Foodstuff Group Co. Ltd., BRF S.A., Perdue Farms, Sanderson Farms, Baiada Poultry, Bates Turkey Farm, and Amrit Group. Tyson Foods dominates the global market owing to its large production facilities and wide distribution network across regions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it