Europe Compound Feed Market was worth $98.9 billion in 2021 and estimated to be growing at a CAGR of 1.40%, to reach $106.02 billion by 2026.
The Europe Compound Feed market is developing at a significant rate due to the increase in the livestock. Compound feed is a mix of raw materials and supplements, sourced from either plants or animals, fed to the livestock orally. Most generally used raw materials are soybean, corn, barley; wheat and sorghum. Most common additives to form compound feed are, minerals, amino acids, antibiotics and colorants. Compound feed has become an essential part of the globally increasing livestock industry and meat production industry. The end customers of the compound feed are poultry, pig, ruminants, fish etc.
Market Drivers and Restraints
The growth of the Europe Compound feed market is mainly due to the growth in the meat consumption and increasing population. Increase in consumer awareness regarding benefits of organic food and meat led to increase in consumption which in turn led to increase in demand for organic feed. Complex regulatory bodies in the European Union and increasing cost of operations are the main factors hindering the growth of this regional market. The European governments have imposed a ban on the use of antibiotics as a growth promoter. The ban has led livestock producers in these regions to identify new ways to stimulate production and deliver the same benefits provided by antibiotic growth promoters at an affordable price.
The Europe Compound Feed Market is segmented and sub-segmented into following categories:
Poultry, pork, and cattle are the largest consumers of compound feed in this region accounting for the major share of the overall compound feed market. Cereals are the most widely used ingredients in compound feed whereas Vitamins are the most widely used additives, accounting for around 25% of the total feed additives market.
The Market is Geographically divided into:
U.K leads the market in this region. The poultry segment is evolving as the foremost livestock segment for the consumption of Compound feed, trailed by swine and cattle, because of the increase in demand for poultry meat, consumer taste predilections.
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