google-site-verification=5mXTZs0RdDCeTpcCGBeUc2HF9uNdM1rSAr9sRldwfdY Increasing consumption and production of meat is escalating demand for poultry ~ CMI Blog Absolutes

Increasing consumption and production of meat is escalating demand for poultry

 


Poultry are domestic birds kept primarily for their meat, their eggs, or both. These are the birds that sit on windowsills, in cages, or in large yards and they are usually the smaller ones. They are basically raised for the production of meat or eggs to be used as food.

Increasing consumption and production of meat products is predominantly fueling the market growth of the poultry. Growing awareness regarding the health benefits of animal based protein such as eggs and meat is again expected to foster market growth. Moreover, growing health-conscious consumers coupled with the increasing demand for animal-based proteins from athletes is also anticipated to propel the market growth. Furthermore, the increasing focus of key manufacturers on expanding the production capacities of the meat is further projected to augment market growth. For instance, in October 2020, Atria has invested $183.7m, to construct a new processing plant on its existing site located in Nurmo, Finland. The investment will also be used to install new slaughtering, cutting, and packaging lines at the facility.

North America is expected to gain significant growth over the forecast period and this is attributed to high consumption and production of meat in the region. According to the North American Meat Institute, the meat and poultry industry is the largest segment of U.S. agriculture. U.S. meat production totaled 52 billion pounds in 2017 and U.S. poultry production totaled 48 billion pounds in 2017. In 2017, the meat and poultry industry processed: 9 billion chickens and 32.2 million cattle and calves. Moreover, the U.S. exported 3.7 million MT of poultry and poultry variety meats in 2017. The value was estimated at $4.5 billion.

Key Developments:

1.      In August 2020, érola do Kikuxi farm, an integrated poultry producer in Angola is seeking US$80 million financings, supported by the Angolan central bank to expand its production capacity.

2.      In June 2020, the government of the Union Territory of Jammu and Kashmir has launched J&K Poultry Policy, 2020/Operational Guidelines to promote the establishment of poultry units in the region and announced a dedicated UT allocation of Rs. 50 crore as subsidy per annum for the establishment of broiler/layer farms and other allied activities.

3.      In March 2019, A’Saffa Foods, Oman’s poultry, snacks, and allied food producer, has announced its plan to double chicken meat production capacity at its farm site in Thumrait is on track.

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