Poultry Keeping Machinery Market is Estimated to Witness High Growth Owing to Opportunities in Automation
Poultry Keeping Machinery Market |
Poultry keeping machinery includes equipment that help in breeding, housing, feeding and management of poultry. This includes incubators and brooders, feeders and waterers, cage and flooring equipment, harvesting and processing equipment, among others. Poultry keeping machinery helps in increasing production efficiency and output by automating routine tasks. The global demand for meat and eggs has been increasing substantially, boosting the need for poultry keeping machinery to meet this demand through effective farm management solutions.
The global poultry keeping machinery
Market is estimated to be valued at US$ 5563.33 Mn in 2023 and is expected to
exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in
a new report published by Coherent Market Insights.
Market Opportunity:
Automation offers significant growth opportunities for poultry keeping
machinery market. Increased mechanization and automation helps reduce labor
costs significantly and improves productivity as machines can perform routine
tasks more efficiently. Automated equipment also ensures uniform distribution
of feed and water which leads to improved animal health and production output.
Advances in robotics and IoT based smart devices are also enabling increased
automation in poultry farms. This presents lucrative opportunities for vendors
to develop advanced automated machinery solutions catering to the growing
demand from poultry producers for labor saving equipment.
Porter's Analysis
Threat of new entrants: Low economies of scale in manufacturing and high
capital requirements pose threat of new entrants.
Bargaining power of buyers: Large poultry farms have significant bargaining
power over machinery producers due to bulk purchase orders.
Bargaining power of suppliers: Specialized parts and equipment providers can
exercise pressure on prices and production schedules.
Threat of new substitutes: Burgeoning cell-cultured meat industry poses threat
of substitutes for conventionally produced poultry meat.
Competitive rivalry: Intense competition exists among major machinery producers
to gain market share through innovative automation solutions.
SWOT Analysis
Strengths: Growing global demand for poultry products drives sales of
equipment. Availability of specialized automation solutions enhances
productivity.
Weaknesses: High fixed costs involved in setting up manufacturing units.
Vulnerability to volatility in raw material prices.
Opportunities: Rising incomes in developing nations boosts demand for protein
foods. Adoption of IoT and data analytics creates new revenue streams.
Threats: Strict animal welfare laws increase compliance costs. Protectionist
trade barriers affect export opportunities.
Key Takeaways
Global
Poultry Keeping Machinery Market Size is expected to witness high
growth over the forecast period of 2023 to 2030.
The global
Poultry Keeping Machinery Market is estimated to be valued at US$ 5563.33 Mn in
2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to
2030.
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