Coherent Market Insights

Poultry Keeping Machinery Market Is to surpass US$ 7.23 Bn By 2031

Poultry Keeping Machinery Market Is to surpass US$ 7.23 Bn By 2031 - Coherent Market Insights

Publish In: Sep 18, 2024

Global Poultry Keeping Machinery Market is Estimated to Witness Steady Growth Owing to Increasing Demand for Protein-Rich Foods and Expanding Poultry Production

Global poultry keeping machinery market is estimated to be valued at US$ 5.36 billion in 2024, exhibiting a CAGR of 4.4% over the forecast period (2024-2031). The market is driven by the rising demand for protein-rich foods due to increasing health awareness among customers as well as growing population. Furthermore, expansion of the poultry industry in developing countries is boosting the adoption of automated machinery to improve productivity.

Market Dynamics:

The growth of the global poultry keeping machinery market is determined by driving factors such as increasing demand for protein-rich foods due to rising health awareness and expanding global population. As per United Nations estimates, the world population is expected to reach 8.5 billion by 2030 and 9.7 billion by 2050. Further, optimization of poultry farming activities through automation using machinery is helping farmers and poultry producers enhance productivity. Technological advancements in machinery focused on animal welfare, automated feeding, and waste management are also fueling the market growth.

Rising Population and Increasing Demand for Protein-Rich Food Drive Global Poultry Keeping Machinery Market

With the growing global population, the demand for protein-rich food like poultry meat and eggs is increasing rapidly. According to the UN Food and Agriculture Organization (FAO), the world's population is expected to reach 9.7 billion by 2050, which will significantly drive up the demand for poultry products. Poultry meat and eggs are considered affordable sources of high-quality protein compared to other meats like beef and pork. This rising demand is encouraging poultry farmers across the globe to expand their operations and produce more chicken and eggs. To meet this heavy demand, they require modern machinery that can effectively manage large flocks of poultry. This growing need for high-capacity and efficient poultry keeping machinery is a major driver for the global Poultry Keeping Machinery Market.

Mechanization of Poultry Farming Operations Boosts Market Growth

Traditionally, poultry farming was a labor-intensive process. However, with rapidly expanding operations, farmers now want to minimize manual labor and maximize production through mechanization. Poultry keeping machinery like automatic feeding systems, egg collection belts, ventilation systems and manure removal equipment allow farmers to manage large flocks with minimal human intervention. They also help improve productivity, food safety, animal welfare and yield better quality products. The trend of mechanizing poultry farming operations is prompting many farmers worldwide to invest in advanced machinery. This is positively impacting the sales and growth of the global poultry keeping machinery industry.

High Initial Investment Required Acts as Key Restraint

Poultry keeping machinery, especially large-scale equipment, has a relatively high initial purchase cost. Modern systems like egg belts, feeders, waterers, manure handling tools, ventilators require substantial capital spending. This high initial investment poses a significant restraint, especially for small-scale poultry producers in cost-sensitive developing nations. The high cost of machinery discourages its adoption and restricts market growth potential. Farmers have to acquire loans to purchase equipment, making it difficult for those with limited access to financing. This financial barrier often compels farmers to delay machinery purchase and rely on traditional methods, adversely impacting market revenue.

Lack of Technical Know-How Hinders Adoption

Many poultry producers, especially in emerging economies, lack the technical expertise required to install, operate and maintain advanced machinery. Modern systems have integrated electronics, software and require skills to troubleshoot issues. With limited know-how, machinery breakdowns and failures are common, disrupting farming operations. This technical barrier poses a serious restraint as it decreases farmer confidence and adoption rates. It also demands substantial investments in training which strains budgets. The lack of technical know-how poses challenges, especially for small farms with restricted resources and limited technical support availability. It is a key factor restricting faster growth of the global poultry keeping machinery industry.

Opportunities in Emerging Economies with Growing Poultry Production

Emerging countries across Asia, Africa, and South America are witnessing rapid development and expansion of the poultry industry. Nations like China, India, Brazil, and Indonesia have huge production growth potential owing to their large population and growing meat consumption. To cater to this opportunity, farmers are looking towards modernization through mechanization. It provides scope for machinery manufacturers in these developing markets. Favorable government policies supporting farm mechanization in nations like India and China and availability of financing options further boost opportunities. With continued poultry sector growth, emerging economies will drive significant future demand for keeping equipment supporting the industry.

Advancing Technology and Automation Present New Prospects

Technological advancements are introducing varied opportunities for innovation in poultry keeping machinery. Internet of Things (IoT)-enabled smart systems with remote monitoring allow automated control and data-driven management. Drones, robots, computer vision and Artificial Intelligence (AI) are enabling automation of routine tasks like egg collection, vaccination, weighing and sorting. This reduces labor costs and improves productivity. Such advanced automated solutions are gaining popularity. Their integration provides vast prospects for upgrading conventional machinery with cutting-edge technology. It opens new revenue streams for innovators catering to the evolving requirements of poultry producers worldwide. Ongoing technological transformations will continue presenting attractive prospects over the coming years.

Link: https://www.coherentmarketinsights.com/market-insight/poultry-keeping-machinery-market-4418

Key Developments:

  • In February 2024, AGCO Corporation, a global leader in agricultural machinery design, manufacturing, and distribution, merged with another agricultural equipment provider to bolster its market position. This strategic merger is anticipated to enhance AGCO's product range and broaden its reach within the competitive agricultural sector. By pooling resources and expertise, AGCO aims to elevate service delivery and innovation in agricultural solutions, ultimately benefiting farmers and agricultural enterprises. This initiative aligns with AGCO's ongoing dedication to advancing agricultural technology and promoting sustainable farming practices globally.
  • In June 2023, Vencomatic Group, a prominent provider of innovative poultry equipment systems, introduced a new egg handling system designed to enhance efficiency in layer farms. This advanced system aims to optimize the egg collection process, ensuring gentle and efficient handling from the nest to packing. By utilizing cutting-edge technology, the new system improves operational workflows and reduces labor costs, ultimately benefiting poultry farmers. Vencomatic Group's commitment to developing sustainable and poultry-friendly products is evident in this launch, which seeks to assist farmers in maximizing productivity while upholding high animal welfare standards.
  • In January 2023, Tyson Foods, one of the largest food companies globally and a recognized leader in protein production, expanded its poultry processing facility in Caseyville, Illinois, to boost production capacity. The $180 million expansion project, which broke ground in August 2022, is expected to be finalized by late 2024. The expansion will add seven new production lines and 270,000 square feet to the existing facility, enabling Tyson Foods to meet the rising demand for its Hillshire Farm® and Jimmy Dean® grab-and-go snacking and breakfast products. The project is projected to create approximately 400 new jobs, increasing the workforce at the Caseyville plant to 750 team members by September 2024.
  • In November 2022, Godrej Agrovet Limited (GSA), a diversified agribusiness company and subsidiary of Godrej Industries Limited, collaborated with a leading agricultural university to develop innovative poultry farming techniques. GSA aims to enhance productivity and sustainability in the poultry sector through this partnership by focusing on research and development of advanced feeding strategies, disease management protocols, and precision farming methods to optimize poultry performance while minimizing environmental impact.
  • In July 2021, Marel Poultry, a global leader in food processing solutions, acquired a technology firm to improve its processing solutions. This acquisition is part of Marel's strategy to innovate and enhance efficiency within the poultry processing industry. By integrating advanced technologies from the acquired firm, Marel intends to provide more sophisticated processing solutions that can help poultry producers optimize their operations and boost productivity. This move underscores Marel's commitment to driving advancements in food processing technology and ensuring it meets the evolving needs of customers worldwide.

Key Player:

Big Dutchman, Chore-Time Brock, Hired-Hand, Vencomatic Group, GSI (Grain Systems, Inc.), Tyson Foods, Inc., Marel Poultry, Hubbard Feeds, AGCO Corporation, Huvepharma, Pancosma, Schippers, BEC Feed Solutions, A.L. Dottie Co., and Petersime

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