Research Nester has released a report titled “Poultry Processing Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the electric vehicle battery recycling market in terms of market segmentation by type, by product type, by body part type, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The poultry processing market is segmented by type into chicken meat, turkey meat and eggs, out of which, chicken meat segment is anticipated to hold largest market share on the back of rise in the production of chicken worldwide, coupled with being the largest producing component amongst chicken, turkey and eggs. In the statistics provided by Food and Agriculture Organization (FAO), production of chicken around the globe peaked to 122 million tonnes from 113 million tonnes in-between 2014-17, with a growth rate of 1.08x.
The poultry processing market is anticipated to record a significant CAGR during the forecast period, i.e. 2019-2027. Rise in the demand for processes and convenience goods, coupled with increasing consumption of poultry products, and increasing awareness for animal protein rich diet, all of these factors are estimated to promote the demand for poultry processing throughout the forecast period. In the statistics by The National Chicken Council, per capita consumption of total poultry products peaked 110 lbs from 98.8 lbs in-between 2010-18, and is further estimated to reach 111.8lbs by 2020.
Regionally, the poultry processing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is expected to have largest market share on the back of growing research and development for processed poultry and meats, increasing demand for organic poultry meat, and the need for low calorie meat by consumers.
Additionally, Asia-Pacific is expected to gain significant market share on the back of rise in the population of the region, coupled with changing lifestyle for the consumption of food, shifting trends towards seasoned meat and meat products, and for being the world’s largest producer of poultry products. In the statistics provided by FAO, total production of poultry products in Asia-Pacific peaked 100468822 tonnes from 87530561 tonnes in-between 2014-17.
Growing Demand Amongst Nations For Poultry Products
In the estimates provided by United States Department of Agriculture (USDA), total consumption of poultry around the world might peak to 145848.50 thousand metric tons from 114200 thousand metric tons in-between 2016-28. Additionally, in another statistical report by Agricultural and Processed Food Products Export Development Authority (APEDA), exports of poultry products in India peaked 5,16,712.93 metric tonnes from 1,66,811.52 metric tonnes in-between 2010-11 and 2018-19.
The increasing demand and supply for poultry products around the world portrays the increasing consumptions of such products, and the need amongst nations for greater demand and supply for such products. Owing to such a factor, processing farms of poultry are raising their production rate so as to achieve the required demand. All of these factors are contributing significantly towards the growth of the poultry processing market.
However, concern for loss borne from destroying of birds, owing to diseases such as bird flu, is expected to operate as key restraints to the growth of the poultry processing market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the poultry processing market, which includes company profiling of JBS S.A. (BVMF: JBSS3), Tyson Foods, Inc. (NYSE: TSN), BRF S.A. (BVMF: BRFS3), New Hope Group (SHE: 000876), Wen’s Food Group Co., Ltd. (SHE: 300498), Charoen Pokphand Group (BKK: CPF), Perdue Farms Inc., Koch Foods, Bachoco® (BMV: BACHOCOB), and Sanderson Farms, Incorporated (NASDAQ: SAFM). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the poultry processing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.