Webinar: Global Animal Feed Market - Statistics, Trends, and Outlook
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The European EU Animal Feed Market to Continue Growing Despite the Coronavirus Pandemic
For the tenth year in a row, the European Union has recorded an increase in the consumption of animal feed (this hereinafter means compound feed, premixes, etc. feed for farm animals, excluding feed for dogs and cats), which increased by 1.5% in 2019 and amounted to 154 million tons. The consumption grew at an average annual rate of +1.6% from 2007 to 2019, and growth dynamics remained broadly stable with minor fluctuations over the period under review.
In 2019, the EU animal feed market increased by 0.5% to $50.2B, rising for the third year in a row after three years of decline. This figure reflects the total revenues of manufacturers and importers (excluding logistics costs, retail marketing costs and retailers' margins, which will be included in the final consumer price).
The level of consumption peaked at $59.6B in 2013; however, from 2014 to 2019, consumption failed to regain the momentum. In 2015, the market value decreased significantly, which was caused by a drop in raw materials and energy costs against the background of falling world oil prices. Over the past three years, the market value has been growing only slightly, despite a more pronounced growth in physical terms.
The COVID-19 pandemic is having a powerful impact on many markets and the economy as a whole, incl. and on the economy of the European Union. Against the background of the introduction of quarantine restrictions, production in entire sectors of the economy has decreased and international transport activity has practically stopped, as a result of which consumer incomes have sharply decreased and consumer behavior patterns have changed.
However, the livestock sector is less affected by these short-term shocks, as quarantine measures have not led to a sharp reduction in the number of farm animals. Thus, in March-July 2020 in the EU there is no sharp drop in the production of feed for farm animals compared to last year. No pronounced growth has been observed either, but frankly speaking, it was not expected due to the rather stable performance of the livestock sector and the absence of prerequisites for a sharp increase in demand for livestock products, whether it be an increase in the population or their incomes.
Market Analyst, Editor
For over 10 years now, IndexBox has been conducting market research, completing consulting work, and selling reports.
Poultry Operations Manager
National Poultry Company is a leading Jordanian Poultry Company that was established in 1994
The Viscofan Group is the world leader in artificial casings for meat products which it distributes in over 100 countries worldwide.
Phodé was born from the conviction that the sense of smell is our primary sense, and one of the driving forces behind the behavior and well-being of living beings.
Director - Investments
Proterra Investment Partners LP is an alternative asset management company providing institutional investors with private equity investment strategies.