The Global Poultry Market was valued at US$ 284.43 Bn in 2022, and is expected to exhibit a CAGR of 3.5%, in terms of revenue, over the forecast period (2023-2030), to reach US$ 375.41 Bn by 2030. Poultry are domesticated birds such as chicken, duck, turkey, and geese, which provide food and fiber. Global Poultry Market is expected to witness significant growth over the forecast period, owing to increasing global population and purchasing power of people. Poultry meat is the most preferred meat among beef, pork, and other red meat, and is comparatively less expensive. This is expected to boost growth of the Global Poultry Market over the forecast period.
Global Poultry Market - Recent Developments
August 2022: Tyson Foods has announced the expansion of its Caseyville Prepared Foods Facility. The USD 180 million investment project will help meet the growing demand for Tyson Foods’ iconic Hillshire Farm® and Jimmy Dean® branded products. The first line is expected to begin production this fall with the expansion set to be completed in the summer of 2023. The Caseyville plant currently produces Hillshire Farm® and Jimmy Dean® products and the 170,000 square foot expansion will specifically allow a larger production of grab-n-go snacking and breakfast items.
July 2022, a U.S. - Based Tyson Foods,Inc. and Saudi-grounded Tanmiah Food Company have accessed into a collaboration. Tyson Foods acquired a 15% equity stake in Tanmiah subsidiary Agriculture Development Company (ADC) and a 60% equity stake in Supreme Foods Processing Company. This investment will enable consumers to access poultry inventories in Saudi Arabia to meet the growing demand for protein in the Middle East and other markets.
July 2022: BRF Sadia inaugurated its new plant, 'Al Joody,' in Dammam, Saudi Arabia, which helps in increasing its monthly production capacity to 1,200 tons of food, which will play an integral role in the growth and development of the poultry industry locally, in the interest of the Saudi consumer.
The Cobb Research Initiative has been created to bring together diverse scientific research disciplines to create advancements in protein production and propel poultry genetics further.
Poultry Market Report Snapshots
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