Poultry Keeping Machinery Market Is Estimated To Witness High Growth
The Poultry Keeping Machinery Market is estimated to be valued at US$ 5563.33 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Poultry keeping machinery consists of hatcheries, feeding and watering equipment, egg processing equipment, waste management equipment, vaccination equipment, and handling and transport equipment. These machinery play a vital role in mass production and maintaining animal welfare standards in poultry farms. Growing consumption of poultry meat and eggs is boosting the demand for advanced poultry keeping machinery.
Market key trends:
The adoption of advanced technologies enabled automation and innovation in poultry keeping machinery is one of the key trends witnessed in the market. Several manufacturers are designing machinery integrated with Internet of Things (IoT), cloud computing, and automation to minimize human labor and monitor performance remotely. Automatic feeding systems, climate control systems, and vaccination machines are equipped with sensors and operated digitally. This is increasing productivity, traceability, and food safety in poultry farms. With the prevalence of concepts like precision livestock farming, implementation of technologies such as precision feeding is estimated to rise considerably over the forecast period.
Porter’s Analysis
Threat of new entrants: Low barriers for start-ups to enter the poultry keeping machinery market. However, established players have strong brand recognition and economies of scale.
Bargaining power of buyers: Moderate as buyers can choose from various machinery brands. However, switching costs are high after initial investment.
Bargaining power of suppliers: Moderate as machinery components are available from multiple suppliers globally. However, suppliers still have bargaining power over differentiated and proprietary technologies.
Threat of new substitutes: Low as poultry keeping requires specialized machinery. No cost-effective alternatives exist for tasks like incubation, hatching, brooding and rearing of poultry.
Competitive rivalry: High as major players compete on product quality, technology, pricing and service.
SWOT Analysis
Strength: Product innovation, advanced automation and energy efficient designs. Strong distribution network and after-sales support.
Weakness: High R&D and marketing costs. Dependence on economic cycles in poultry industry.
Opportunity: Growth in organized poultry farms and contract breeding. Adoption of data analytics and IoT in poultry operations.
Threats: Strict biosecurity and safety regulations. Trade barriers and fluctuating raw material prices.
Key Takeaways
The Global Poultry Keeping Machinery Market Growth is expected to witness high, exhibiting CAGR of 3.4% over the forecast period, due to increasing mechanization in poultry farms. The market size for 2023 is estimated to be US$ 5563.33 Mn.
Regional analysis: Asia Pacific dominates the global market with over 35% share due to large poultry production in China and India. Southeast Asia is expected to grow the fastest during the forecast period due to rapidly expanding organized sector and contract breeding in countries like Vietnam and Indonesia.
Key players: Key players operating in the poultry keeping machinery market are Jansen Poultry Equipment, Petersime NV, Vencomatic Group, Big Dutchman International GmbH, Valco Companies, Inc., TEXHA PA LLC, Hartmann Lebensmitteltechnik Anlagenbau GmbH, and HAMEX-GROUP. They provide integrated solutions and focus on enhancing productivity through digitalization and automation.
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