Poultry feed is the food given to farm animals, mainly chickens, turkeys, or others that provide meat. A healthy poultry feed contains lots of protein & carbohydrates and an adequate amount of vitamins, minerals, & water.
The Europe Poultry Feed Market is projected to grow at around 5% CAGR during the forecast period, i.e., 2023-28. The growth of the market is projected to be driven mainly by the rapidly rising meat & egg consumption, the abundant availability of wide-range & protein-rich feed in region, relatively low & competitive prices of poultry than other meat, and high disposable incomes of most Europeans.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|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|
The EU (European Union) is amongst the largest poultry meat producers in the world and a net exporter of poultry products. It imports high-value poultry products, including breast pieces & poultry preparations, mainly from Brazil, Thailand, & Ukraine. The rising consumption of chicken in hotels, restaurants, & cafes is promoting market acceleration. Furthermore, ever-increasing consumer awareness of the health benefits of protein-rich foods and growing population levels & urbanization are also surging the consumption of meat, thereby spurring positive flow in the market.
Key Driver: Ever-Increasing Meat Production to Cater to Evolving Consumer Demand
The per capita income of Europeans is pretty high as most of the residing countries are developed. Rising urbanization and increasing population levels are accelerating the demand for animal protein, mainly meat & eggs, which, in turn, is augmenting the demand for poultry feed & additives across the region. Moreover, the growing consumer interest in eating outside at fancy restaurants is another aspect leading to ever-increasing demand for meat, i.e., spurring hike in the industry.
Challenge: Ban on the Use of Antibiotics to Promote Animal Growth
Governments of several residing countries have imposed a ban on the use of antibiotics as a growth promoter, which, in turn, has instigated livestock producers across the region to look for new ways to stimulate production and deliver the same benefits provided by antibiotic growth promoters at affordable prices. The imposition of this ban by regulatory bodies is the prime aspect that might hamper the industrial expansion through 2028.
Based on Animal Type:
Of these three, Broilers held a prominent share of the market in the previous few years. Broilers or chickens are efficient terrestrial animals raised solely for meat production and require a good amount of energy & protein to sustain their rapid growth. They have an excellent FCR (Feed Conversion Ratio) and hence need more protein & calories to grow more quickly than native chickens & layers.
More & more companies across Europe are massively investing in new broiler construction projects in order to suffice the ever-growing requirements. Hence, the high demand for feed for broiler chickens to help them gain weight, coupled with the mounting demand for chicken as it has protein-rich content available at low costs, are the most prominent aspects contributed to the dominance of broilers in the industry across Europe in the previous years.
Based on Nutrients:
Here, Proteins acquired a significant market share in the previous few years. Protein plays a vital role in growth, egg production, immunity, adaptation to the environment, and many other biological functions of poultry animals, owing to which its demand is constantly substantial. Amino acid is witnessing immense demand as it is one of the most crucial protein sources, which is why it is required highly in poultry nutrition. It also helps in the digestion of animal bodies and, thus, is added to poultry feed. Moreover, the high protein content in amino acids helps reduce the inclusion level of soybean meal in a monogastric animal’s diet. Hence, based on these aspects, protein as a nutrient holds a prominent share of the Poultry Feed Market in Europe.
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Frequently Asked Questions
A. The Europe Poultry Feed Market is likely to register around 5% CAGR during 2023-28.
A. The burgeoning meat & egg consumption, high disposable incomes of the consumers, and the extensive availability of wide-range & protein-rich feed are the prime aspects projected to drive the Europe Market during 2023-28.
A. Archer Daniel Midland Co., AG Chemi Group, Cargill Inc., Alltech, Evonik Industries AG, Trouw Nutrition, Novozyme + DSM Nutritional Products, Du Pont, BASF, and Nusana are the key companies participating in the Europe Poultry Feed Market.
A. Broilers would continue creating lucrative prospects for the leading players in the Europe Poultry Feed Market during 2023-28.