Europe Animal Feed Market valued at US$ 70.08 billion in 2021, to be driven by the growing meat consumption
The Europe animal feed market was valued at US$70,079.679 million in 2021.
Some of the major factors propelling the Europe animal feed market growth include the growing demand for innovative animal feed products coupled with the rising meat consumption.”
NOIDA, UTTAR PRADESH, INDIA, August 28, 2023/EINPresswire.com/ -- According to a new report published by Knowledge Sourcing Intelligence, forecasted between 2021 and 2028, the Europe animal feed market was valued at US$70,079.679 million in 2021 and is anticipated to propel significantly over the coming years.— Knowledge Sourcing Intelligence
The prime factors propelling the Europe animal feed market growth include the growing demand for innovative animal feed products coupled with the rising consumption of meat.
Animal feed is a great supply of necessary amino acids, minerals, and energy. The growing livestock and meat production industries in Europe have made animal feed a vital component of their efforts to generate a variety of foods made from grains, cereals, oil seeds, cakes, and meals. It even combines nutrients derived from plants, animals, organic materials, inorganic compounds, and industrial processes.
Various collaborations and technological advancements are driving the European animal feed market. For instance, The Russian fast-food chain Sibylla Rus was purchased by Cherkizovo, a producer of meat and poultry in Russia, from the Atria company in May 2022. Additionally, Cargill committed USD 50 million in April 2022 to conduct research and improve animal nutrition and feeds and establish facilities in the Netherlands, Europe, close to Elk River, Minnesota.
Access sample report or view details: https://www.knowledge-sourcing.com/report/europe-animal-feed-market
The European animal feed market is segmented into fodder & forage, and compound feed depending on the type. The compound feed contains all the nutrients animals need to thrive. The focus of manufacturers on improving the feed that is given to the farm animals is expanding as a result of the need to have healthy animals and is fueling the market share for compound feed in Europe.
The market is segmented into pork, aquatic animals, cattle, poultry, and others based on livestock. Poultry is anticipated to grow rapidly during the forecast period. According to the European Feed Manufacturers Federation (FEFAC), the HORECA chain reopened after removing the lockdown in 2021, resulting in a tiny 0.8% rise in poultry feed output even though there was severe avian influenza in various regions of Europe. The comparatively inexpensive and competitive cost of poultry meat compared to other meat, and dietary and nutritional attributes are the key growth factors driving the market's expansion.
Europe's animal feed market is segmented into soya, corn, wheat, and others based on raw materials. Soy is anticipated to expand quickly throughout the forecast time because of its high nutritional value. Another factor that helps the development is the commercial link between Spanish farmers and feed manufacturers. Furthermore, due to the growing reliance on imports, the majority of enterprises look for substitute plant-based proteins, including corn.
According to geographic segmentation, France is expected to hold a sizable share of the Europe animal feed market during the forecast period. The market for animal feed is expected to grow over the predicted period as a result of the nation's increasing investments and technological advancements. For instance, the EcoXtract®Protein project was launched by Pennakem Europa, INRAE, the Carnot Institute France Futur Élevage, and Avignon University in December 2021. This project was chosen for a total of 4.8 million euros in financial support under ADEME's PIA program.
The research study includes coverage of PURINA Animal Nutrition LLC., Alltech Inc., Cargill, Incorporated., ADM, De Heus Animal Nutrition, Kemin Industries, Inc., Trouw Nutrition Deutschland GmbH, BASF SE, and DSM among other significant players in the Europe animal feed market.
The market analytics report segments the European animal feed market as below:
• By Type
o Fodder & Forage
o Compound Feed
• By Livestock
o Pork
o Aquatic Animal
o Cattle
o Poultry
o Others
• By Raw Material
o Soya
o Corn
o Wheat
o Others
• By Country
o United Kingdom
• By Type
• By Livestock
• By Raw Material
o Germany
• By Type
• By Livestock
• By Raw Material
o France
• By Type
• By Livestock
• By Raw Material
o Others
• By Type
• By Livestock
• By Raw Material
Companies Profiled:
• PURINA Animal Nutrition LLC.
• Alltech Inc.
• Cargill, Incorporated.
• ADM
• De Heus Animal Nutrition
• Kemin Industries, Inc.
• Trouw Nutrition Deutschland GmbH
• BASF SE
• DSM
Explore More Reports:
• Compound Feed Market: https://www.knowledge-sourcing.com/report/compound-feed-market
• Feed Premix Market: https://www.knowledge-sourcing.com/report/feed-premix-market
• Animal Feed Antioxidants Market: https://www.knowledge-sourcing.com/report/animal-feed-antioxidants-market
Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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