Broiler refers to the breeding chickens used for meat production, is the most common poultry raised by humans. According to the classification of species, China’s broilers (poultries) can be divided into white feather chickens, yellow feather chickens, culled egg chickens and meat mixed chickens.
In recent years, China’s broiler industry has maintained a high boom development. From the supply side, the quantity of China’s broiler farms is low and the quality is rising, tending to large-scale breeding; the amount of broiler slaughter remains stable. From the demand side, broiler consumption has been growing year by year, and per capita consumption has also increased.
In recent years, China’s chicken prices fluctuate up, and in 2019 the highest rose to 15.07 yuan/catty, coupled with the successive growth of broiler consumption, the quantity and price will certainly bring a broad market space, according to the data of Leadleo Research Institute, it is expected that by 2024, China’s broiler market size will reach 360.36 billion yuan.
Broilers tend to be farmed on a large scale, and the market supply remains stable
The large-scale farming of chicken is easier to manage scientifically and systematically compared with the free-range farming of farmers, and facilitates the timely introduction and application of new technologies, which can greatly reduce costs and enhance the production efficiency of livestock and poultry products. At the same time, large-scale farming guarantees product quality and food safety through the establishment of a comprehensive whole process quality control and food safety monitoring system.
From 2015-2019, the overall number of broiler farms in China decreased year by year, from 21.218 million in 2015 to 17.569 million in 2019. However, the number of broiler farms with a farm size of more than 1 million chickens has increased from 789 to 1028, indicating that China’s broiler industry tends to be large-scale farming.
China’s main broiler slaughter in recent years to maintain stable development, 2015-2018 basically maintained at about 8 billion birds slaughter, 2019 has risen, yellow-finned chicken and white feathered chicken slaughter a total of 9.3 billion birds, an increase of 17.72%.
Broiler consumption grows year by year
Along with the development of the broiler industry, China’s chicken consumption has also increased year by year. China has become the world’s largest chicken consumption market, and per capita chicken consumption is second only to pork. 2015-2019 China’s overall broiler consumption showed a trend of year-on-year growth, and in 2019 China’s broiler consumption reached 19.582 million tons, an increase of 5.39% over 2018.
Affected by African swine fever, the price of pork in China has remained high recently. According to USDA data, China’s pork consumption plummeted from 55.3 million tons in 2018 to 42.7 million tons in 2020. The future consumer demand for chicken, a meat substitute for pork, is expected to be further enhanced.
Data show that China’s per capita broiler consumption in 2015-2019 shows an overall trend of fluctuating growth, and in 2019, China’s per capita broiler consumption is 12.1 kg/person, while the world’s per capita chicken consumption is 14.3 kg/person, China’s per capita broiler consumption is still low compared to the world average.
The size of China’s broiler market is expected to exceed 360 billion in 2024
According to data released by the China Development and Reform Commission, China’s chicken prices have maintained fluctuating growth in recent years, with the retail price of chicken in 36 cities in China rising from 10.53 yuan/catty in June 2015 to 13.03 yuan per catty in February 2021.
In the case of chicken prices and chicken consumption together, China’s broiler industry market size is expected to get stable growth, 2019 China’s broiler market size of 335.37 billion yuan, 2019-2024 will grow at a compound annual growth rate of 1.4%, it is expected that by 2024, China’s broiler market size will reach 360.36 billion yuan.
Source: Qianzhan Industry Research Institute