Published on: November 21, 2019
The poultry industry raises domesticated birds such as chicken, turkey, duck, and others for their eggs and their meat. We categorize the poultry market as a part of the packaged foods and meats market. The packaged foods and meats products market covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and to extend shelf life. The packaged foods and meats market is part of the global food and beverage market which was valued at USD 7.93 trillion in 2018 and is expected to grow at a moderate pace.
Our reports on the poultry market provide a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis of around 50 vendors.
The rising demand for poultry meat and egg is expected to lead to a corresponding increase in their production worldwide. The world poultry meat production in 2018 was more than 120 million tonnes, and the production of poultry eggs was estimated to be 81 million tonnes in 2016. In terms of value, the global poultry eggs market generated revenues of USD 103.5 bn and global poultry meats market generated revenues of USD 331.2 billion in 2018; cumulatively the overall poultry market was estimated to be over USD 434 billion growing at a CAGR of over 4%, for the past five years. The poultry market is forecasted to grow at a moderate growth rate over the next five years until 2024.
One of the positive trends in the poultry market that can influence the growth of the market is the increasing demand for clean meat. Clean meat involves the development of chicken meat in labs using cell technologies and does not involve animal slaughter. Another trend that can impact the market positively is the development of innovative packaging that can increase the shelf life of poultry meat. For example, Nicoll food packaging Ltd launched a new packaging for poultry meat manufacturers that features a new skin pack aluminum tray and film combination.
There are various underlying factors that are expected to drive growth in the poultry market during the forecast period. Our analysis identifies the following factors to be driving the growth in the poultry market:
Globally there is an increase in consumption of poultry-based products such as poultry meat, mainly chicken meat and poultry eggs. The global per capita consumption of eggs has been growing at a steady rate. For instance, the per capita consumption of eggs in the US was 278.90 in 2018, and it is expected to increase by 0.36% in 2019. The global production and consumption of poultry meat is estimated to have increased by approximately 1% in 2018 compared to 2017.
The demand for poultry meat and eggs is expected to continue increasing due to population growth and rising individual consumption. There is an increasing demand for processed poultry products such as processed egg and prepared poultry meat. Processed egg or egg products include whole eggs, egg whites, and egg yolks in frozen, refrigerated liquid, and dried forms available in several different product formulations, as well as specialty egg products. Since fresh eggs have a short shelf life, eggs are dehydrated and sold as powdered eggs. Dried egg yolks and dried egg whites are manufactured through the spray drying process like the way powdered milk is made. The advantage of dried egg yolks and dried egg whites are its reduced volume compared to fresh eggs as well its longer shelf life and convenience of storage and transportation. Moreover, processed egg products have a wide range of use in food products, including soups, sauces, cakes, biscuits, and desserts.
There are several campaigns across the world to promote egg consumption. For example, the US government is promoting egg consumption in schools through its National School Lunch Program and the Supplemental Nutrition Assistance Program. In India, the National Egg Coordination Committee (NECC) was formed in 1982 and has been actively promoting the health benefits of consuming eggs through media campaigns. Similar initiatives to promote the consumption of eggs are undertaken in various countries.
Meanwhile, the vendors operating in the market face numerous challenges in increasing their sales and improving profitability. Some of those challenges are:
Globally there is a growing acceptance of veganism. The number of people around the world, giving up on animal-based foods and adopting plant-based foods is increasing every year. People are embracing veganism mainly for three reasons their concern for animals, the planet and personal health. As per the vegan society vegan trend quadrupled between 2012 to 2017. There is a growing trend in people adopting vegan food habits in regions such as the US, UK, Israel, Australia, Canada, Austria, and New Zealand which are the major markets for meat products. This trend is likely to impact the poultry market.
Most manufacturers in the poultry-based products processing industry source raw materials from third-party suppliers. Contamination at the source or improper handling of the raw materials or supplies can adversely affect the quality of the finished products. Food regulatory authorities across the world view food contamination seriously and have the authority to shut down a business or recall products from the market if they are convinced that the products pose a serious health threat to consumers. For example, in March 2019, TipTop poultry Inc., a US-based processed poultry meat manufacturer of various products including flavored and coated chicken pieces recalled 100 pounds of frozen fully cooked diced white chicken due to misbranding and undeclared allergens in the product. Similarly, Jennie-O, a subsidiary of Hormel Foods Corp (Hormel Foods) recalled approximately 164,210 pounds of raw ground turkey products that were contaminated with the pathogen Salmonella Reading.
Disease outbreaks affect animal health and lead to the loss of livestock. Some of the poultry diseases that had global consequences in the last five years are avian influenza, egg drop syndrome, and blackhead disease. Outbreaks of diseases can wipe out an entire flock due to infection. Moreover, these diseases impact egg production, leading to an acute egg shortage. Also, the outbreak of avian influenza caused panic around the world, and people started restricting or avoiding consumption of poultry meat, which impacted the market. Such disease outbreaks in the future pose a severe challenge to the global poultry market.
We provide a detailed analysis of more than 50 vendors operating in the poultry market, including some of the prominent poultry egg vendors such as Agroholding Avangard, Cal-Maine Foods, Inc., ISE FOODS. INC, Proteina Animal, S.A.DE C.V.(PROAN), Rose Acre Farms and poultry meat vendors BRF SA, Cargill Inc., Hormel Foods Corp. JBS SA and Tyson Foods Inc. Consolidation of existing manufacturing units, mergers and acquisitions, are some of the business and market penetration strategies being adopted by vendors in the poultry market.
Some of the key developments mentioned in our poultry market report include:
Backed with competitive intelligence and bookmarking, our poultry market research is designed to provide entry support, customer and M&A assessment, as well as go-to-market strategy support.
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