The global poultry consumption has witnessed consistent growth over the past few years. The rising consumption of poultry products is expected to play a major role in boosting the overall growth of the poultry farming equipment market in the upcoming years. Although poultry consumption has experienced a gradual rise over the past couple of decades, evolving consumer trends indicate that poultry consumption habits could plateau in the forthcoming years. The rise in the number of consumers, who are leaning away from non-vegetarian food due to factors, including animal cruelty, could potentially hamper the overall prospects of the poultry sector.
However, at present, the adoption of poultry farming equipment continues to grow, particularly in North America, Australia, and Europe, owing to the entry of new technologies and innovations. Although poultry meat consumption is projected to remain higher in developing regions, the presence of key market players involved in the poultry farming equipment market across North America and Europe is likely to accelerate market growth in these regions. A number of exhibitions around the world are organized wherein market players can exhibit their product range and portfolio providing a boost to the growth of the global poultry farming equipment market.
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At the back of these factors, along with growing emphasis on optimizing potential eggs, poultry meat, and collection of compost, the global poultry farming equipment market is expected to attain a market value of ~US$ 35 Bn by the end of 2030.
Technological Advancements to Boost Demand for Poultry Farming Equipment
Technological advancements are expected to play a key role in the overall development of the global poultry farming equipment market. At present, strides taken in poultry farming largely focus on automating the activities in the rearing systems. Some of the most popular automated poultry farming equipment include brooder cages, laying cages, and broiler cages, among others. Market players operating in the current market landscape are increasingly focusing on improving the designs of their poultry farming equipment to improve efficiency, improve the quality of poultry products, and boost operational productivity. In addition, advanced poultry farming equipment, including automatic feeding equipment have also exhibited higher efficiency levels in scaling feeds, thereby minimizing wastage.
Farmers and other stakeholders operating in the poultry sector are increasingly leaning toward advanced poultry farming equipment to maximize profitability and reduce production costs. In addition, environmental sustainability has emerged as a prerequisite for the development of new technologies and poultry farming equipment. The entry of technologically advanced brooding machines has played a vital role in large-scale poultry farming due to which, its adoption continues to move in the upward trajectory. Environment controller equipment has gained considerable adoption from farm owners in temperate regions, as they can efficiently regulate humidity and temperatures within the poultry houses.
Although considerable advancements have taken place in terms of technology and innovations, the developed nations, including the U.S., Australia, New Zealand, and the U.K., among others, are expected to remain the most prominent markets for participants operating in the current poultry farming equipment market. However, modernized systems such as breeders, feed mills, and environment controller equipment are increasingly being used across developing regions of the world.
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Robotic Poultry Farming Equipment Likely to Gain Traction
In several developed nations around the world, robotic poultry farming equipment is being installed across poultry farms to collect eggs and in cleaning applications. Robot poultry farming equipment is likely to redefine the future of poultry farming in the upcoming decades. In addition, automation and robotics continue to attract interest from investors due to their immense potential in reducing labor costs and remote monitoring ability. However, due to steep costs, the adoption of robotics is likely to remain sluggish in the first half of the forecast period and gain momentum toward the second half of the assessment period.
Apart from entry of robotics, data analytics and smart lighting systems are expected to gain considerable attention in the upcoming years. These technologies primarily aim to increase the overall quality of poultry products and simultaneously minimize the environmental footprint of the poultry sector. These factors are expected to play a key role in influencing the growth of the market for poultry farming equipment in the upcoming years.
Poultry Consumption Patterns Change amid COVID-19 Pandemic
The COVID-19 event has severely impacted operations across the poultry industry, particularly in developing regions of the world. The liquidity condition of various stakeholders in the sector, including contract farmers and other small integrators continues to head toward uncertainty amid the ongoing health crisis.
Several poultry farms have closed down due to losses suffered during the pandemic due to limited financial flexibility. As poultry consumption patterns continue to change during the COVID-19 event, its impact can be felt across the poultry farming equipment market wherein the demand has declined in the first two quarters of 2020. Due to reducing profit margins, the uptake of advanced poultry farming equipment has witnessed a considerable decline in 2020 and as per current estimates, the demand is likely to remain sluggish in the forthcoming months.
