Poultry Market

The article provides a comprehensive analysis of the global poultry market, covering consumption trends, production statistics, trade data, and market prices. Forecasts show a continuous upward trend in both market volume and value over the next decade. Key findings include the dominance of chicken meat in both consumption and production, as well as significant fluctuations in import and export prices amongst major poultry trading countries.

Market Forecast

Driven by increasing demand for poultry worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.3% for the period from 2022 to 2030, which is projected to bring the market volume to 166M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.6% for the period from 2022 to 2030, which is projected to bring the market value to $450.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Poultry

In 2022, approx. 138M tons of poultry were consumed worldwide; surging by 1.6% against 2021. The total consumption volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2019 with an increase of 4.4% against the previous year. Over the period under review, global consumption reached the maximum volume in 2022 and is expected to retain growth in the near future.

The global poultry market value fell to $313.3B in 2022, waning by -1.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when the market value increased by 10%. As a result, consumption attained the peak level of $318.7B, and then contracted modestly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (24M tons), the United States (18M tons) and Brazil (10M tons), together comprising 39% of global consumption. Russia, India, Mexico, Indonesia, Japan, Egypt, South Africa, the UK, Argentina and Iran lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +10.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($73.1B) led the market, alone. The second position in the ranking was held by the United States ($22.1B). It was followed by Brazil.

In China, the poultry market expanded at an average annual rate of +3.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+0.7% per year) and Brazil (+0.0% per year).

The countries with the highest levels of poultry per capita consumption in 2022 were the United States (55 kg per person), Brazil (48 kg per person) and Argentina (47 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Egypt (with a CAGR of +7.7%), while consumption for the other global leaders experienced more modest paces of growth.

Consumption By Type

Chicken meat (122M tons) constituted the product with the largest volume of consumption, comprising approx. 89% of total volume. Moreover, chicken meat exceeded the figures recorded for the second-largest type, duck and goose meat (10M tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of the volume of chicken meat consumption totaled +2.7%. For the other products, the average annual rates were as follows: duck and goose meat (+3.8% per year) and turkey meat (-1.2% per year).

In value terms, chicken meat ($263.2B) led the market, alone. The second position in the ranking was taken by duck and goose meat ($37.5B).

From 2012 to 2022, the average annual rate of growth in terms of the value of chicken meat market amounted to +3.4%. With regard to the other consumed products, the following average annual rates of growth were recorded: duck and goose meat (+3.4% per year) and turkey meat (+0.1% per year).

Production

World Production of Poultry

In 2022, approx. 139M tons of poultry were produced worldwide; with an increase of 1.9% compared with the year before. The total output volume increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the production volume increased by 4.5%. Over the period under review, global production hit record highs in 2022 and is expected to retain growth in years to come. The general positive trend in terms output was largely conditioned by a perceptible expansion of the number of producing animals and a relatively flat trend pattern in yield figures.

In value terms, poultry production contracted to $258.8B in 2022 estimated in export price. In general, the total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +30.9% against 2016 indices. The growth pace was the most rapid in 2013 with an increase of 72%. Global production peaked at $398.8B in 2014; however, from 2015 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (23M tons), the United States (22M tons) and Brazil (15M tons), together comprising 43% of global production. Russia, India, Indonesia, Mexico, Poland, Egypt, Turkey, Japan, Argentina and Iran lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +11.0%), while production for the other global leaders experienced more modest paces of growth.

Production By Type

Chicken meat (124M tons) constituted the product with the largest volume of production, comprising approx. 89% of total volume. Moreover, chicken meat exceeded the figures recorded for the second-largest type, duck and goose meat (10M tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of the volume of chicken meat production totaled +2.7%. For the other products, the average annual rates were as follows: duck and goose meat (+3.8% per year) and turkey meat (-1.2% per year).

In value terms, chicken meat ($203.2B) led the market, alone. The second position in the ranking was taken by duck and goose meat ($42.9B).

From 2012 to 2022, the average annual growth rate of the value of chicken meat production stood at +1.9%. With regard to the other produced products, the following average annual rates of growth were recorded: duck and goose meat (+2.9% per year) and turkey meat (+0.2% per year).

Yield

In 2022, the global average poultry yield reduced modestly to 1.8 kg per head, leveling off at the year before. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the yield increased by 2.2% against the previous year. The global yield peaked at 1.8 kg per head in 2021, and then dropped modestly in the following year.

Producing Animals

In 2022, global number of animals slaughtered for poultry production stood at 79B heads, increasing by 2% on the year before. This number increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 4.8%. The global producing animals peaked in 2022 and is expected to retain growth in the immediate term.

Imports

World Imports of Poultry

After four years of growth, overseas purchases of poultry decreased by -2.8% to 15M tons in 2022. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 5.4% against the previous year. Over the period under review, global imports hit record highs at 16M tons in 2021, and then declined in the following year.

In value terms, poultry imports soared to $33.7B in 2022. The total import value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, China (1.3M tons), followed by Mexico (855K tons) and the Netherlands (777K tons) represented the key importers of poultry, together achieving 19% of total imports. Germany (690K tons), Japan (582K tons), France (557K tons), the United Arab Emirates (527K tons), the UK (503K tons), Iraq (456K tons), the Philippines (434K tons), South Africa (372K tons), Cuba (341K tons) and Angola (315K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +13.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest poultry importing markets worldwide were China ($4.2B), Germany ($2.2B) and the UK ($2B), with a combined 25% share of global imports. France, the Netherlands, Japan, Mexico, the United Arab Emirates, Iraq, the Philippines, Angola, Cuba and South Africa lagged somewhat behind, together accounting for a further 29%.

In terms of the main importing countries, the Philippines, with a CAGR of +16.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

Chicken meat prevails in imports structure, resulting at 14M tons, which was near 93% of total imports in 2022. It was distantly followed by turkey meat (828K tons), generating a 5.4% share of total imports. Duck and goose meat (246K tons) followed a long way behind the leaders.

Chicken meat was also the fastest-growing in terms of imports, with a CAGR of +1.7% from 2012 to 2022. Duck and goose meat experienced a relatively flat trend pattern. turkey meat (-2.5%) illustrated a downward trend over the same period. Chicken meat (+2.9 p.p.) significantly strengthened its position in terms of the global imports, while turkey meat saw its share reduced by -2.6% from 2012 to 2022, respectively. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, chicken meat ($29.6B) constitutes the largest type of poultry imported worldwide, comprising 88% of global imports. The second position in the ranking was held by turkey meat ($2.8B), with an 8.4% share of global imports.

For chicken meat, imports expanded at an average annual rate of +3.1% over the period from 2012-2022. With regard to the other imported products, the following average annual rates of growth were recorded: turkey meat (+0.1% per year) and duck and goose meat (+0.9% per year).

Import Prices By Type

The average poultry import price stood at $2,186 per ton in 2022, jumping by 20% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was duck and goose meat ($5,349 per ton), while the price for chicken meat ($2,061 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by turkey meat (+2.7%), while the other products experienced more modest paces of growth.

Import Prices By Country

In 2022, the average poultry import price amounted to $2,186 per ton, rising by 20% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the UK ($3,959 per ton), while South Africa ($746 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Poultry

In 2022, the amount of poultry exported worldwide amounted to 17M tons, remaining stable against 2021. The total export volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2014 with an increase of 5.9%. Over the period under review, the global exports reached the peak figure at 17M tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, poultry exports soared to $36.1B in 2022. The total export value increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 19% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

Brazil (4.4M tons) and the United States (3.8M tons) represented roughly 48% of total exports in 2022. Poland (1.6M tons) took a 9.2% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (7.8%). Turkey (674K tons), Germany (498K tons), Belgium (480K tons), Ukraine (417K tons), Thailand (365K tons), France (354K tons) and China (279K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Ukraine (with a CAGR of +17.9%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest poultry supplying countries worldwide were Brazil ($8.9B), the United States ($5.4B) and Poland ($4.5B), together comprising 52% of global exports. The Netherlands, Germany, Belgium, Thailand, Turkey, France, Ukraine and China lagged somewhat behind, together comprising a further 29%.

In terms of the main exporting countries, Ukraine, with a CAGR of +19.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Chicken meat dominates exports structure, resulting at 16M tons, which was approx. 94% of total exports in 2022. It was distantly followed by turkey meat (852K tons), making up a 4.9% share of total exports.

Chicken meat was also the fastest-growing in terms of exports, with a CAGR of +2.1% from 2012 to 2022. turkey meat (-2.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of chicken meat increased by +3.2 percentage points.

In value terms, chicken meat ($31.9B) remains the largest type of poultry supplied worldwide, comprising 88% of global exports. The second position in the ranking was taken by turkey meat ($2.9B), with an 8.1% share of global exports.

From 2012 to 2022, the average annual rate of growth in terms of the value of chicken meat exports amounted to +3.4%. For the other products, the average annual rates were as follows: turkey meat (+1.0% per year) and duck and goose meat (+0.2% per year).

Export Prices By Type

In 2022, the average poultry export price amounted to $2,094 per ton, jumping by 18% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the product type; the product with the highest price was duck and goose meat ($5,244 per ton), while the average price for exports of chicken meat ($1,975 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by turkey meat (+3.6%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average poultry export price amounted to $2,094 per ton, rising by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($3,173 per ton), while the United States ($1,403 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform