Poultry Feed is the food offered to the farm poultry, including chicken, turkey, and other domestic birds. Poultry feed formulates from a broad range of potential ingredients mixed to meet the nutrient profile needed for animals at their different growth stages.
The Europe Poultry Feed Market is likely to grow at around 5% CAGR during the forecast period, i.e., 2021-26, says MarkNtel Advisors. Poultry feed is a crucial part of the poultry market. The market growth primarily attributes to the rise in poultry consumption coupled with the increasing consumer spending capacity.
The research report, “Europe Poultry Feed Market Analysis, 2021,” also states that the immense popularity of the Poultry Feed Market in Europe further owes to the abundant availability of wide-range & better quality products in the region. Moreover, population growth and urbanization are a few other factors that are likely to promulgate the demand for poultry products in Europe, thereby fueling the overall market growth.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Key Companies Profiled||Archer Daniel Midland Co., AG Chemi Group, Cargill Inc., Alltech, Evonik Industries AG, Trouw Nutrition, Novozyme + DSM Nutritional Products, Du Pont, BASF, Others (Nusana)|
|Unit Denominations||USD Million/Billion|
Covid-19 Impact on Europe Poultry Feed Market
The lockdown imposition, shutdown of manufacturing units, and travel restrictions have adversely affected various industries across different countries, and the Europe Poultry Feed Market was no exception. The market witnessed a negative impact on its growth rate, primarily due to volatile feed prices and foodservice sector disruptions. The supply chain & logistic disturbances severely affected the overall market growth. Further, food services closure during lockdown was another contributing factor to the declining demand for poultry products, which ultimately affected the poultry feed market.
However, with the lockdown upliftment and ease of norms for business operations, many organizations are currently going through the renewal & recovery phase. With this, the Europe Poultry Feed Market is also recovering and is likely to witness significant growth in the coming future, owing to the increasing production & demand for poultry feeds.
Burgeoning Meat Production to Boost the Market Growth
The producers have also started shifting their production trends to meet the rapidly increasing demand for meat. According to Eurostat, the EU produced 13.3 million tons of poultry meat in 2019, representing a slight increase of 0.8% in production. It pushed EU production 2.8 million tons above the level recorded in 2010, which is a cumulative rise of around 27%. Thus, based on these aspects, the meat production in the region is likely to propel in the coming years, which, in turn, would aid poultry feed production and boost the European Poultry Feed Market.
Rising Raw Material Prices Might Hamper the Market Growth
Mounting raw material prices is the biggest challenge faced by poultry feed manufacturers. Feed acids, vitamins, and antioxidants are well-extracted from natural sources, such as seeds, plant leaves, and tree bark. The surging cost of extraction from these natural sources entwined with stringent norms regarding wastewater treatment & waste biomaterials are likely to hinder the market growth.
According to MarkNtel Advisors, the leading industry players in the Europe Poultry Feed market are Archer Daniel Midland Co., AG Chemi Group, Cargill Inc., Alltech, Evonik Industries AG, Trouw Nutrition, Novozyme + DSM Nutritional Products, Du Pont, BASF, and Others (Nusana).
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Europe Poultry Feed Market is forecast to grow at a CAGR of 5% during 2021-26.
A. Archer Daniel Midland Co., AG Chemi Group, Cargill Inc., Alltech, Evonik Industries AG, Trouw Nutrition, Novozyme + DSM Nutritional Products, Du Pont, BASF, and Others (Nusana) are a few of the leading players in the Europe Poultry Feed Market.
A. Proteins are likely to attain the highest CAGR and maintain their significant market share during the forecast period.
A. Country-wise, the UK continues to grow at the highest CAGR during 2021-26, thereby presenting immense opportunities to market players of the Europe Poultry Feed Market.
A. The rise in poultry consumption, surging demand for eggs & meat, and increasing consumer spending capacity are the major factors fueling the market growth.
A. The outbreak of the COVID-19 pandemic has negatively affected the Europe Poultry Feed Market owing to the shutdown of the production units and logistic & supply chain issues.