Asia’s poultry sector continues to show promise despite ongoing challenges, thanks to strong fundamentals, said Justin Sherrard, Independent Company Advisor – Animal Protein.
Production growth in white feather broilers is forecast at 3-3.5% in Thailand, Malaysia, Vietnam, the Philippines and Indonesia this year. In contrast, production growth in China may reach only 2%, held back by strong inventories and competition from other proteins.
Growth is expected to remain strong to 2030, at some 3%. Vietnam is expected to return the strongest performance, possibly reaching 5%, while expansion may be slowest, around 1.5-2% in Malaysia. Overall, however, expansion will be strong over a sustained period.
Rising demand reshapes Asia’s poultry priorities
Mr Sherrard emphasized Asia’s positive outlook, however, he urged the industry better capture rising demand for broiler meat. He noted that consumption is evolving more quickly than production, driven by convenience, food service and e-commerce.
“The industry must evolve to take full advantage of this strong and changing demand, products must better align with these changing consumer tastes. This is particularly important in China and, perhaps, more so in Thailand and Malaysia. To a certain extent, it is also the case in Vietnam,” he said.
Mr Sherrard encouraged producers to focus more on understanding the consumer and product value, rather than volume alone. He also highlighted the impact of competing proteins. In China, for example, demand for pork is currently strong, to the detriment of the broiler industry.
The closure of wet markets adds pressure due to the loss of a sales channel, however, this may drive innovation. Mr Sherrard believes it will push producers to offer higher value products, especially in the Philippines, Vietnam and Indonesia.
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