Market Overview and Dynamics
The animal feed market in Europe is expected to grow from US$ 98,934.86 Million in 2018 to US$ 1, 35,038.39 Million by 2027; it is estimated to grow at a CAGR of 3.4% from 2018 to 2027. According to the United Nations, 821 Million people in 2018 were undernourished. Taking into account all the people in the world affected by moderate levels of food insecurity as well as those who suffer from hunger, it is estimated that more than 2 billion people do not have regular access to sufficient and nutritious food. The World Bank and many private and public companies have made investments in rural and agricultural development to boost nutrition and food production and mitigate food insecurity. The unabated increase in the population has strained the food supply chain and increased the demand for high calorie and protein diet. According to a study by the United Nations, the world will need 70% more food to feed a population of 9.6 billion people. Hence, technological advancements in animal nutrition to improve productivity of farm animals and increase the production of dairy and milk has become paramount to provide adequate nutrition to the world. The need for wholesome food to feed the burgeoning population base presents a lucrative opportunity for the livestock, meat, dairy, and its allied animal feed industry. Animal feed industry is anticipated to receive investments across the globe to aid in balanced nutrition program of animals, which is crucial to supplement the protein and daily nutrition requirements of the world. This is bolstering the growth of the Europe animal feed market.
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In Europe, Italy is the hardest-hit country by the COVID-19 outbreak. It is expected to suffer an economic hit due to a lack of revenue from various industries, as Spain recorded the highest number of COVID-19 cases. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe.
Market Introduction
European continent comprises several developed nations, including Germany, France, United Kingdom, and Italy, among others. The European animal feed market is primarily being driven by the growing demands for innovative animal feed products. Considering the increase in animal farming as well as growth in the animal feed industry, the region is witnessing ample opportunities for the animal feed market players such as Archer Daniels Midland Co, Cargill Inc., Charoen Pokphand Foods Plc, Evonik Industries AG, ForFarmers N.V., and others. In Europe, animal growers incur huge expenditures on the purchase of high-quality animal feed, accessories, and care products for their farming animals and pets. With increasing health consciousness among the consumers towards their animals and pets, the demand for animal feed in the region is expected to grow during the forecast period. Thus, an increase in the production of industrial livestock is anticipated to create a drive for Europe animal feed market in the coming years.
Europe Animal Feed Strategic Insights
Strategic insights for the Europe Animal Feed provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
- Market leaders and key company profiles
Archer Daniel Midland Co. - Cargill Inc.
- Charoen Pokphand Foods PLC
- Kester, Evonik Industries AG
- Forfarmers NV
- Land o’lakes Inc
- New hope group Co. Ltd.
- Nutreco NV
- Perdue Farms
Europe Animal Feed Regional Insights
The geographic scope of the Europe Animal Feed refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Key Market Segments
In terms of form, the pellets accounted for the largest share of the Europe animal feed market in 2018. In terms of livestock, the poultry segment held a larger market share of Europe animal feed market in 2018.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe animal feed market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Archer Daniel Midland Co., Cargill Inc., Charoen Pokphand Foods PLC, Kester, Evonik Industries AG, Forfarmers NV, Land o’lakes Inc, New hope group Co. Ltd., Nutreco NV, and Perdue Farms Inc.
Reasons to buy report
- To understand the Europe animal feed market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe animal feed market
- Efficiently plan M&A and partnership deals in Europe animal feed market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe animal feed market
- Obtain market revenue forecast for market by various segments from 2020-2027 in Europe region.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
