Major companies in the poultry market include JBS S.A., Tyson Foods Inc, Pilgrim’s Pride Corporation, Hormel Foods Corp, Sanderson Farms Inc, New Hope Liuhe Co. Ltd., BRF S.A., Maruha Nichiro Corporation, Marubeni, and Bell AG.
The global poultry market is expected to grow from $318.58 billion in 2021 to $350.87 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The market is expected to grow to $493.21 billion in 2026 at a compound annual growth rate (CAGR) of 8.9%.
The poultry market consists of sales of poultry by entities (organizations, sole traders, and partnerships) that slaughter poultry and prepare processed poultry and meat byproducts.Poultry includes chickens, ducks, geese, rabbits, small game, and turkeys.
Poultry processing is fully or semi-automated in most countries. The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments.
The main types of poultry are chicken, turkey, ducks, and other poultry.Duck is the common term for a variety of waterfowl species belonging to the Anatidae family.
Ducks are smaller and have shorter necks than swans and geese, who belong to the same family.The different types of products include seasoned, frozen, ready-to-cook, ready-to-eat, Other Distribution Channels, and have various natures such as organic, conventional.
It is distributed through various channels such as supermarkets/hypermarkets, convenience stores, e-commerce, Other Distribution Channels.
Asia Pacific was the largest region in the poultry market in 2021.Western Europe was the second-largest region in the poultry market.
The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The poultry manufacturing growth is aided by stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), the global GDP growth reached 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user poultry market, thereby driving poultry manufacturing during the forecast period.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the poultry manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.Food and beverage manufacturers depend on the supply of raw materials from domestic and international suppliers.
As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to a lack of raw materials.Also, restrictions on the trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline.
The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the poultry manufacturing market will recover from the shock across the forecast period as it is a ’black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Poultry processing companies are increasingly using 3D imaging systems to optimize yields. 3D imaging systems model the poultry bird using sensors and actuators to determine the position of the cut. The bird is put under the vision system, which takes the images and measurements and geometry is determined. Near-infrared sensors determine the amount of meat and bone present in the bird. Vision analysis enables the system to perform optimal cuts for each bird regardless of the size and shape. It is a data-driven process that maximizes the yield and minimizes per unit cost for poultry meat processing. Major companies involved in pioneering this technology include Gainco, meat, and poultry equipment manufacturer, and Midwest Machine LLC.
The countries covered in the poultry market are Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam.
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