Global poultry feed insights shared in agri-food outlook

The overall lower demand for feed was due, in part, to the more efficient use of feed made possible by intensive production systems that focus on using animal nutrition, farm management and other technologies to lower feed intake while producing the same amount of protein, or more.

A slowdown in the overall production of animal protein, in response to tight margins experienced by many feed and animal protein companies, also contributed to lower feed demand. Changing consumption patterns caused by inflation and dietary trends, higher production costs and geopolitical tensions also influenced feed production in 2023.

Poultry feed

Poultry experienced an increase in broiler feed production (385.04 mmt, +13.10 mmt, +3.5%) and remained steady with a slight increase for layers (170.88 mmt, +0.01 mmt, 0%). Broiler feed now accounts for 29.9% of the total feed tonnage in the world thanks to a 3.5% increase in overall tonnage in 2023. While this growth was not uniform across all regions, the poultry sector is poised to keep holding strong in 2024.

For layers, there are industry-wide efforts to optimise feed efficiency and to keep pace with changing dietary trends and new purchasing power. Some markets around the globe were significantly impacted by macroeconomic challenges and disease outbreaks, which can disrupt production cycles. Still, according to the report, the general outlook for the layer industry remains positive thanks to its resilience in the face of difficult circumstances, when other protein sectors often struggle to adapt.

To access more data and insights, click here: 2024 Alltech Agri-Food Outlook.