Report : Europe Animal Feed Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Form (Pellets, Crumbles, Mash, Others); Livestock (Poultry, Ruminants, Swine, Aquaculture, Others), and Country
Pellet Segment to Dominate Europe Animal Feed Market during 2018–2027
According to a new market research study on “Europe Animal Feed Market to 2027 – COVID-19 Impact and Regional Analysis - By Form (Pellets, Crumbles, Mash, Others); Livestock (Poultry, Ruminants, Swine, Aquaculture, Others), and Country is expected to reach US$ 1, 35,038.39 Million by 2027 from US$ 98,934.86 Million in 2018. The market is estimated to grow at a CAGR of 3.4% from 2018 to 2027. The report provides trends prevailing in the Europe animal feed market along with the drivers and restraints pertaining to the market growth. The increase in the production of industrial livestock and also the sudden surge in demand for protein rich animal feed are the major factors driving the growth of the Europe animal feed market. However, issues associated with implementation of stringent regulations on animal husbandry may hinder the growth of Europe animal feed market.
The market for Europe animal feed market is segmented into form, livestock, and country. Based on form, the market is segmented into pellets, crumbles, mash and others. In 2018, the pellets segment held the largest share in Europe animal feed market. Based on livestock the Europe animal feed market is divided into poultry, ruminants, swine, aquaculture and others. Poultry is expected to be the fastest growing segment over the forecast period. Furthermore in this present scenario of COVID 19 pandemic, the Europe animal feed market has been facing difficulties as most of the industries are facing severe impacts by the outbreak of COVID-19, and the virus critically affected several countries such as Italy, Spain, the UK, France, and Germany, among others. The majority of the countries have imposed lockdown or restricted human movement causing the industries to face a severe impact on production as a result of less labor footfall.
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. are among the leading companies in the Europe animal feed market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Archer Daniels Midland Company announced that it had successfully completed its US$ 1.75 billion acquisition of Neovia Sarl, creating a global leader in value-added products and solutions for both production and companion animals
Europe Animal Feed Market, By Country, 2018 and 2027 (%)
The report segments the Europe Animal Feed Market as follows:
Europe animal feed market – By Form