New York, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Organic Poultry Global Market Report 2023" - https://www.reportlinker.com/p06284497/?utm_source=GNW
The global organic poultry market will grow from $9.78 billion in 2022 to $10.34 billion in 2023 at a compound annual growth rate (CAGR) of 5.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The organic poultry market is expected to grow to $12.65 billion in 2027 at a CAGR of 5.2%.
The organic poultry market consists of sales of organic chicken meat, organic turkey meat, organic duck meat, and other organic poultry meat.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Organic poultry products are defined as food products that are slaughtered and used for human consumption by processing and preserving organic poultry meat by smoking, salting, fermenting, or adding any chemicals.Organic poultry birds such as boiler, organic layer hens are fed organic feed or non-synthetic diet and are raised in an open environment protected from climatic extremities.
The growth promoter medicines/substances, antibiotics and growth hormones are prohibited to raise poultry birds. Organic poultry is consumed in various food processing units, restaurants, eateries, animal compounds, and households.
Asia Pacific was the largest region in the organic poultry market in 2022.Western Europe was the second-largest region in the organic poultry market.
The regions covered in the organic poultry market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types are eggs and meat products. Meat products are products in which the fresh meat is subjected to one or more processing procedures, including comminution, dehydration, fermentation, curing, or cooking, among others .others. The various processing types are fresh, frozen, and processed. The end users of organic poultry are households, and food services and various distribution channels are supermarkets, specialty stores, online sales, and others.
Consumer awareness about the health benefits of organic food, including organic poultry, has seen a significant increase and is driving the organic poultry market in a positive direction.Organic poultry is rich in vitamins and omega-3 fatty acids and offers high nutritional value.
Thus, more awareness of the health benefits of organic food, including organic poultry, among consumers increases the demand for organic poultry. According to the U.S. Department of Agriculture (USDA), the total sales of organic boilers in the USA were more than $749 million, followed by $83 million in sales of organic turkey. Also, more than 19.5 million organic broilers and 15.7 million organic layers were raised in the USA. With an increase in consumer awareness of organic food. there is a developing potential that would drive the growth of the organic poultry market.
The high cost to the consumer is one of the reasons for organic poultry’s differential demand.The high cost to the customers is attributed to factors such as a lack of organic feed, land availability, and high maintenance costs.
Further, disease outbreaks in poultry birds resulting in producers’ losing birds creates a differential in supply and demand in the organic poultry market, resulting in increased costs to customers.As reported by the United States Department of Agriculture (USDA), owing to seasonal demands and disease outbreaks between 2004 and 2010, organic eggs accounted for the largest price fluctuations.
With fluctuations in prices, the average consumer’s spending was increased by an average of 59.4% for organic poultry. Hence, the high cost due to price instability is restraining the market potential for organic poultry.
To meet the ever-increasing need for improved and more efficient organic poultry services, companies operating in the organic poultry market are rapidly adopting new market dynamics and focusing primarily on enhancing technologies to address the rising demand for safe and improved poultry services.For instance, in February 2021, Bell and Evans, a US-based provider of premium chicken partnered with Cargill, a US-based food and beverage manufacturing company, to secure the organic grain completely and enhance domestic organic grain supply. Through this, Cargill would incentivize US farmers to switch from conventional to organic management through subsidised organic crop advisory services offered by organic pioneer Rodale Institute under the terms of the agreement. Since the beginning of its organic programme, Bell & Evans has been committed to sourcing 100% U.S. organic grains for its organic chicken feed.
In August 2021, Cargill and the Continental Grain Company acquired chicken producer Sanderson Farms.With this acquisition, Cargill is focused on expanding its poultry operations in the US.
Upon completing the transaction, Cargill and Continental Grain will combine Sanderson Farms with Wayne Farms—a subsidiary of Continental Grain—to form a new, privately held poultry business.According to Cargill, this deal will create a US poultry company with a high-quality asset base and complementary operating cultures .
In addition to this, in October 2021, LDC Group, Europe’s leading poultry processor company, announced the acquisition of a majority stake in Wales-based peer Capestone organic poultry. With this acquisition, the LDC Group will be able to provide its expertise in the premium poultry market.
The countries covered in the organic poultrymarket report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The organic poultry research report is one of a series of new reports that provides organic poultry statistics, including organic poultry industry global market size, regional shares, competitors with organic poultry shares, detailed organic poultry segments, market trends and opportunities, and any further data you may need to thrive in the organic poultry industry. This organic poultry research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06284497/?utm_source=GNW
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