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The global poultry market grew in late 2023, albeit at a slower pace than historical averages — an upward trend that will carry into early 2024. According to Rabobank’s global poultry quarterly report, poultry and eggs have been the fastest-growing proteins in the animal protein market, benefiting from price-driven consumers “trading down in terms of meat type and product category.”
“Global growth in (poultry production) will accelerate from 1.1% this year to 1.5% to 2% due to lower feed costs and, therefore, lower chicken prices,” reports Nan-Dirk Mulder, Rabobank’s senior global specialist animal protein, noting that animal protein overall saw only 0.4% growth.
