According to The Business Research Company’s research report on the poultry market, the pandemic has created the need for the use of contactless technologies in the poultry industry. More than half of U.S. consumers’ spending on food before the pandemic was outside the home. COVID-19 has changed this, with full-service restaurants reporting business being down by 70%, while most are closed completely.
LONDON, Sept. 17, 2020 (GLOBE NEWSWIRE) — (Poultry Companies Included: Tyson Foods, Inc., JBS S.A., BRF S.A., Koch Foods, Charoen Pokphand Foods)
Technologies that make it possible for companies in the market to remain operational include smart packaging – coating with natural protective polymers – such as those being used on longer shelf-life foods (dried meats), and value-added foods such as cheeses and specialized pates/meatloaves. Poultry producers are also embracing the use of video call technologies such as Zoom, WebX, and Skype as an alternative to sales visits and technical advisors. Virtual video conferences have also supplanted board meetings, trade shows and technical symposia. While face-to-face selling still carries weight in the poultry industry, virtual meetings have been a huge hit and are an inevitable part of the global poultry market future.
Blockchain technologies are being backed by leading food companies, such as Walmart, Cargill and Dole, and are a part of the U.S. Food and Drug Administration’s food safety and traceability strategy, under which confidence-building is deemed essential. Farmers are increasingly adopting 3D technology to cope with lengthy delays in finding parts to fix feed delivery systems, tractors, combines or other equipment. The ability to print spare parts and get back to business on the farm without the need for a physical visit or delivery is growing in popularity with poultry growers. Robotics are another area of interest as they can replace manual labor, thereby limiting the need for workers to physically visit plants. More technologies that are becoming attractive due to the ongoing social distancing practices are virtual reality and augmented reality – with which virtual poultry sessions can be conducted away from the farm.
The Business Research Company’s report titled Poultry Market – Opportunities And Strategies – Global Forecast To 2030 covers major poultry companies, poultry market share by company, poultry manufacturers, poultry infrastructure market size, and poultry market forecasts. The report also covers the global poultry market and its segments. The poultry market is segmented by type of animal into chicken, turkey, ducks and geese, others, by distribution channel into supermarkets/hypermarkets, convenience stores, foodservice stores, e-commerce, others, by product type into fresh/chilled, frozen, ready-to-cook, ready-to-eat, others, by nature into organic and conventional.
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The global poultry market size reached a value of nearly $319.2 billion in 2019, having grown at a compound annual growth rate (CAGR) of 5.5% since 2015, and is expected to grow at a CAGR of 6.1% to nearly $405 billion by 2023. The global poultry market growth rate is expected to be 7.2% through 2025, reaching nearly $465.7 billion, and a CAGR of 6.8% to $645.7 billion by 2030.
Other examples of technological adoptions in the poultry industry brought on by COVID-19 include using smart cameras to observe animals, with machine learning and artificial intelligence interpreting the information to give growers insights delivered to their smart devices. The internet of things (IoT) connects all the various points in the data chain and removes the need for basic labor on poultry farms, allowing those who remain to be more focused on their jobs. Artificial intelligence is enhancing the role of farm technicians, veterinarians, nutritionists and extension agents.
On the consumer end, increasing penetration of mobile phones, internet and rising popularity of online home delivery services has led to companies introducing online meat delivery services. These companies generally operate their own slaughterhouses and also package and ship their products. Online meat delivery is helping companies to increase margins as they perform end to end operations without any intermediaries. Thus, the pandemic has brought about a push to implement technology throughout the processes of the poultry industry in order to drive the growth of the global poultry market.
Poultry Market – Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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