The Asia Pacific is expected to lead the global poultry-keeping machinery market in terms of market value, accounting for nearly 39.5% share in the global market. The market for poultry keeping equipment is anticipated to reach a value of $5.09 billion globally in 2022, growing by 3.2% year over year. By 2028, the market is anticipated to grow at a CAGR of 3.6 percent and reach a value of US$6.54 billion.
The study mainly attributes the rise in consumption of poultry meat to the positive development possibilities of the poultry-keeping machinery market. The poultry-keeping machinery market has a high possibility to expand in regions such as Latin America, and the Asia Pacific except for Japan and North America, according to the study.
According to Future Market Insights’ most recent market research study on poultry-keeping machinery, the market was valued at nearly US$ 4.5 Bn in 2021 and is expected to grow at a 3 percent CAGR between 2022 and 2029. In 2021, poultry keeping machinery sales accounted for roughly 60% of the global poultry equipment market.
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Significant product innovation with advanced technologies meeting regulations and animal welfare norms is expected to emerge as a market differentiator over the next decade. Automation of agricultural and farm equipment, as well as demand from new poultry farms for advanced and cost-effective poultry-keeping machinery, have increased significantly.
Growing demand for progressive products puts manufacturers under pressure to deliver technologically advanced and unique product offerings, according to FMI. As a result of technological advancements, equipment manufacturers have made significant investments in research and development. Manufacturers in the poultry-keeping machinery market concentrate on creating unique patented technologies that serve as product differentiators and help them gain a competitive advantage.
Birds such as turkeys, ducks, and broilers have high economic value because they adapt easily to any environment. They can be used for meat in eight weeks, and thus, with the expected increase in consumption, a significant increase in investment in the poultry sector is expected, particularly in developing countries, such as Iran and Tunisia in the Middle East.
APEJ Region to Provide Noteworthy Growth Opportunities for Manufacturers
Automation is expected to emerge as the future of the poultry-keeping machinery market in the APEJ region due to ongoing technological advancements and progression in agricultural and farm equipment over the years. Manufacturers of poultry keeping machinery are focusing more on improving their market structures and offerings in the region.
The APEJ region is expected to be a prominent region in the global poultry-keeping machinery market throughout the forecast period, owing to rising consumption and production of poultry-keeping machinery in China and India, as well as North America, Latin America, Western Europe, and Eastern Europe. The growing emphasis on animal welfare around the world has prompted consumers to consider the methods used in the production of farm-produced food.
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Prominent Factors Fueling Poultry Keeping Machinery Market Growth
“Advanced Technologies Emerging as Product Differentiators among Farm & Agriculture Equipment Manufacturers”
The growing integration of automation in farm and agricultural equipment is increasing demand for cost-effective and advanced products, putting pressure on manufacturers to offer technologically advanced and unique product offerings.
Manufacturers of farm and agriculture equipment have made significant investments in research and development to introduce unique patented technologies, which help them differentiate their products in the market.
Manufacturers of poultry keeping machinery are also concentrating their efforts on increasing yield. This ensures that key food items such as chicken, eggs, and so on can be sold at a competitive price.
With the increased demand for animal protein, poultry meat has emerged as a more cost-effective and affordable source of protein. As a result, the intake and consumption of poultry meat is likely to continue to outpace that of beef and pork substitutes.
Poultry meat will enjoy consistent market demand due to its low cost and high protein content, propelling market growth for poultry keeping machinery.
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Poultry Keeping Machinery Market: Vendor Insights
The global poultry-keeping machinery report emphasizes some of the principal industry players in the global poultry-keeping machinery market. Some of the examples of the key players in the market are Valco Companies, Inc., Jansen Poultry Equipment, Vencomatic Group, Big Dutchman International GmbH, TEXHA PA LLC, Petersime NV, Hartmann Lebensmitteltechnik Anlagenbau GmbH, and HAMex-GmbH, among others.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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