Poultry Market Size, Share, Growth and Industry Analysis By Type (Chicken, Turkey, Duck, And, Geese) By Application (Hypermarkets, Supermarkets, Online Channels, And, Specialty Stores), Regional Insights, and Forecast To 2031

Poultry Market REPORT OVERVIEW

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global poultry market size was USD 1785400.0 million in 2021 and market is projected to touch 5663705.63 Million by 2031, exhibiting a CAGR of 12.24 % during the forecast period.

Animals that are reared for their meat, eggs, or feathers are called as poultry. Some of the commonly reared poultry animals include chicken, quails, geese, ducks, and, turkeys. Such animals are usually stored in smaller backyard farms, or even in large-scale commercial farms. A lot of people are involved in this industry and is popular throughout the world.

Growing awareness of people about organic food products will amplify market growth. People prefer to eat meat that is free from synthetics, hormones, and anti-biotics. This is considered as the latest trend in the market.   

Use of online and E-commerce websites has enabled faster sales in the market. Online retailers are introducing new products such as ready-to-cook, and marinated food products.  These factors collectively propel the poultry market growth.

COVID-19 impact: Poor Performance of Hotel Industry During Pandemic Reduced Market Growth

The pandemic of COVID-19 changed the market conditions all over the world. A lot of challenges had to be faced by each and every market. The main obstacle was the imbalance created in supply and demand of products. Due to the unfavorable factors that were created, the supply for all the products were more compared to the demand for the same.

The same problem was faced by the poultry market. Hotels and restaurants are the major source of demand for the poultry market. During the pandemic all the restaurants, and hotels were not allowed to operate. This adversely affected the market. Workforce is also a major component of poultry market. Unavailability of skilled workforce was another challenge faced by this industry. Therefore, the market faced a decline in the demand during the pandemic period.

LATEST TRENDS

"Preference of People Towards Organic Food Items to Increase Market Growth"

More and more people are getting educated about the benefits of consuming organic food products. They are becoming aware of the side effects of having food products that are infused with chemicals, and other artificial substances. This has changed the preference of people to opt for poultry products which are completely fresh, organic, and reared without any anti-biotics, synthetic additives or hormones.

Shift of consumer preference towards organic food products has driven the producers to follow a more humane, sustainable, and eco-friendly method of producing poultry products. Post pandemic, after the hotels and restaurants have resumed their business, the demand for poultry has sky-rocketed. All of these are considered to be the latest trend in the market.

Poultry Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

Chicken, turkey, duck, and, geese. The chicken segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Hypermarkets, supermarkets, online channels, and, specialty stores. The hypermarkets segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Revolution of E-Commerce Platforms to Accelerate Market Growth"

E-commerce platforms are very helpful in increasing the business and sales of each and every market. This is because online websites increase the convenience of the customers in buying the products. Recently many companies have launched apps, and websites that help consumers select the type, and, quantity, of meat required. This will be delivered to the door step of the customer. As a result, many people are preferring to use these e-commerce platforms to buy the required meat.

Meat that is obtained form chicken, geese, quails, turkeys, or ducks are considered to be a very rich source of proteins. A lot of people are into body building. Proteins are highly important for developing muscles. Many dieticians suggest a balanced diet consisting of a significant portion of proteins to their clients. People get a major source of protein from eggs, and meat. All of these factors are accelerating market growth and development.

"Rising Demand for Convenience Foods to Propel Market Growth "

Urbanization, has changed the lifestyle of people. People are not finding the time to prepare their meal beforehand due to increased workload. All of this increased the dependency of people on convenience food items. These food products are prepared in a way that makes it very convenient for the consumers to cook or directly eat.

Due to the busy lifestyle of people. Many of them are trying to find a quick and easy meal solution. All of these factors have tremendously increased the demand for poultry which is pre-cooked and pre-packed. This has also led to the development of new processing technologies. Online retailers are providing various options where the consumers are being offered pre-marinated and ready-to-cook options as well. All of these are considered as factors propelling the poultry market share.

RESTRAINING FACTOR

"Growing Trend of Veganism to Bring Down Market Growth"

One of the new trends that is being observed in the food market is growing adoption of veganism among people. Numerous people are advocating animal welfare and are fighting against abuse against animal. Animal slaughtering is being banned by a lot of people. This can be detrimental for the poultry market, as it can reduce its demand to a great extent.

Many regulations are being introduced by the government authorities to reduce animal cruelty, and increase sustainability. Also, consuming meat from animals such as chicken, and turkey can sometimes cause viral infections, and diseases. All of these factors can deteriorate the market growth.

Poultry Market Regional Insights

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"Asia Pacific to Dominate Market in The Upcoming Years"

Asia Pacific stands first in the market with nearly half of the market share. Several factors have driven the growth and development of the market in this region. Asia Pacific is the largest producer of poultry. Countries like Indonesia, China, and India.

The main factors that are responsible for large-scale production in these regions include rising population, and growing demand for meat consumption. Meat derived from animals such as chicken, and, turkey is a staple diet of many people living in this region. All of these are propelling the market development in Asia Pacific.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

LIST OF TOP POULTRY COMPANIES

• Skylark Hatcheries Pvt. Ltd (India)
• Bharati Poultry Pvt. Limited (India)
• IB Group (India)
• Venky’s Limited (India)
• RM Group (India)
• Suguna Foods Private Limited (India)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. Name of some of the top industry players have also been mentioned in the market to get a better understanding of the competition present in the market.