Europe Feed Premix Market Growth, Trends, and Forecast 2020 - 2025 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jul 2, 2021--
The “Europe Feed Premix Market - Growth, Trends, and Forecast (2020 - 2025)” report has been added to ResearchAndMarkets.com’s offering.
The European feed premix market is projected to register a CAGR of 3.2% during the forecast period(2020-2025).
The rising demand for meat, fish, poultry, and other products in the region created a situation of enhancing yield by improving the performance. This, in turn, resulted in scientific feeding practices.
The growth of the market in the region is mainly driven by the increasing production, rising animal health concerns, and growing industrialization of livestock. Increased Food safety concerns, especially in the meat and dairy products have led to increased consumption of compound feed and influenced the feed premix market in the region.
The poultry segment is anticipated to be the fastest-growing segment owing to the rising meat consumption which will, in turn, influence the feed and feed premix production for the segment. For instance, according to the Organisation for Economic Co-operation and Development, in 2018 the per capita poultry meat consumption in the United Kingdom was 27.8Kg that rose to 28.3 Kg in 2019. Royal Agrifirm Group, Trow Nutrition, Dutch Farm, Cargill, Incorporated, and Vilofoss are some of the leading players in the market.
Key Market Trends
Increasing Feed Production Drives the Market
The rising demand for animal meat and dairy products is expected to boost the production of compound feed in the region, thereby acting as a catalyst for the feed premixes market during the forecast period. According to Statistics Denmark, in 2016 milk production in Denmark has increased from 5,454.96 million kg to 5,693.89 million kg in 2018. The increase in the production of milk indicates better effectiveness of cattle feed and an increase in livestock numbers in the region. Both situations favor the increase in demand for feed premix products in the market.
According to the European Feed Manufacturer’s Federation (FEFAC), in 2018, the industrial compound feed production for farmed animals in the region reached an estimated level of 163.3 million metric tons a 1.8% higher than in 2017. Furthermore, in 2018, Germany, Spain, and France remain the three leading countries in terms of total compound feed production with 23.84 million metric tons, 24.25 million metric tons, and 20.84 million metric tons respectively.
Germany is the leading cattle and pig feed producer with 7 million metric tons and 9.5 million metric tons of production. while France maintains its leading position as poultry feed producer with 8.6 million metric tons. The growing production of livestock coupled with increasing feed production will drive the market for feed premix.
Poultry Remains the largest Segment
Swine feed is the major consumer of premix in Europe. However, the recent consumption shift from red meat to white meat due to the health benefits associated with white meat has led to increased poultry meat production. Poultry is the most popular type of meat consumed in Europe. The consumption of poultry has increased in the country over the past few years. The growth in consumption has created pressure on farmers to maintain the production growth rate the same as consumption to retain the demand-supply balance.
For instance, according to the Food and Agriculture Organisation (FAO), in 2018 poultry population was 2412.68 million that has increased to 2470.54 million in 2018. This growing population has created the demand for compound feed.
According to the European Feed Manufacturer’s Federation (FEFAC), in 2016 the poultry feed production amounted to 54.3 million metric tons that increased to 55.8 million metric tons in 2018. Regulatory concerns over feed inputs in poultry and the increased stress on food safety due to recent disease outbreaks, such as avian flu, are major factors driving demand in these regions.
Merger and Acquisition is the key strategy adopted by the major players operating in the market. The majority of the players are acquiring other players in the market and strengthening their position in the market studied. Product launches are the second-most adopted strategy, followed by Expansion.
- BASF SE
- Trow Nutrition
- Cargill Inc.
- Koninklijke DSM NV
- Dutch Farm International BV
- Royal Agrifirm Group
- De Hues
- ForFramers BV
For more information about this report visit https://www.researchandmarkets.com/r/eak17x
View source version on businesswire.com:https://www.businesswire.com/news/home/20210702005220/en/
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SOURCE: Research and Markets
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PUB: 07/02/2021 08:53 AM/DISC: 07/02/2021 08:53 AM