Content of the study

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MARKET OVERVIEW

1.1 Definition and scope of the study

The poultry market refers to poultry breeding. Poultry is a pet bird belonging to the gallinaceous or palmiped species, which is reared for its flesh and/or eggs. This study will focus on industrial and local poultry farming, and its distribution. The term includes all the backyard birds which are the subject of poultry farming, and in particular the following animals:

Chicken
Turkey
Duck
Geese

The global poultry market has undergone large structural shifts. What was once a micro-scale farming activity has transformed into mass production in large warehouses all around the world, with machinery to optimize processes. Although production and distribution today are mainly carried out through the latter, consumers in many countries have gone back to the idea of micro-farming and are inclined to purchase free-ranging chicken from smaller farms. The main reason for this change is the will to reduce the ecological footprint, but this means of production is also associated with healthier birds and hence better meat.

Moreover, the global market is expected to expand; in 2015, 111,000 thousand metric tons were produced, a number which is expected to grow by 24% over the next decades reaching 131,255 thousand metric tons in 2025. In particular, Asia currently holds the largest market size globally, and will certainly be responsible for the future growth. This is mainly due to the size of the continent.

The USDA projects poultry consumption to steadily increase until 2029. Meanwhile, the production value of American poultry fell between 2014 and 2019. From these two facts it is plausible to assume that the US has become more reliant on poultry imports, most likely since they are a cheaper alternative.

In the US, the Northeast has the highest consumption per capita, with $212 per person. Midwest has the lowest expenditure of $149 per person. [bls.gov]

Key companies in the US include Tyson Foods, JBS, Pilgrim's Pride Corporation, Wens Foodstuff, BRF, Perdue Farms, Sanderson Farms, Baiada Poultry, Bates Turkey Farm, and Amrit.