Italy animal feed market is estimated to be valued at US4,856.806 million in 2020.
Introduction
Animal feeds are products that are used to help animals stay healthy. Different feed dosages are supplied depending on the animal. Over the projected period, rapid urbanization and increased meat and other end-product consumption, such as milk and eggs, in various locations will fuel the animal feed market growth potential. The feed aids in the expansion of the animal's capacity, accelerating growth and weight gain, and enhancing immunity by supplying greater nutrients. Animal illness outbreaks are a significant motivator for the use of animal feed, which promotes animal health and helps to regulate the food supply chain.
Market Trend
Due to expanding meat consumption and increased health awareness, the Italian animal feed market has a large portion of the European feed market. Despite issues such as corruption and a high unemployment rate, the country's retail sector is booming. In the future years, technological improvements in the animal feed industry, together with the country's established poultry and swine industries, are likely to propel market growth potential. Furthermore, rising public awareness of the health advantages of algae-based components in animal feed is a crucial factor driving market expansion. Microalgae are essential for enhancing animal feed with nutrients throughout the early phases of cattle development. It also promotes physical growth while ensuring the production of high-quality eggs, milk, and meat. Concerns about food safety in the country, particularly concerning meat and dairy products, have increased the demand for feed additives.
The connection between food quality and sustainability is one of the most important legacies Italy received from Expo Milano 2015. The reuse of non-consumed foodstuffs for animal feed is a good example. It is the polar opposite of sustainable production to destroy or burn them. As a result, they're paying more attention to animal nutrition's long-term sustainability.
Growth Factors
Due to a significant rise in the consumption of poultry, aquaculture species and their importance to health is increasing the demand for animal feed in the country. According to the global pet industry, cat and animal food created the highest value for sale during COVID-19 as well the demand for cat and dog food didn’t subside. Due to shifting dietary trends, urbanization, population increase, and economic growth, people in Italy are shifting towards healthy meat consumption.
Restraints
Farm animals' immunity is neutralized by unsafe and contaminated feed ingredients, resulting in a loss of productivity for farmers. As disease outbreaks have become more regular, livestock producers have invested in high-quality feed premixes. Customers have placed great value on product safety and quality assurance. Diseases can impact the trade of livestock goods like dairy, meat, and by-products. For a long time, the illness-affected areas have been prohibited from exporting these products until the disease has been entirely isolated and managed.
According to the vegan society, in 2020, 2.6% of the population claimed to be vegan taking the sales volume of plant-based food estimated to be 425 euros million. Also, 35% of Italians are reducing their intake of meat. This can be a threat in the future to the animal feed industry. With 94.4% growth, Italy is the fastest-growing meat-free nation. Consumers in Italy are rapidly inclining toward high-quality meat and meat products, with 45 percent choosing domestically sourced meat.
Impact of COVID-19 Pandemic:
Since Italy was the first few countries to be drastically hit by COVID-19, the market crashed, resulting in a downfall for all industries. The animal feed industry was majorly hit during the period as one-third of the population was hit by COVID-19. Not only has the pandemic and its accompanying lockdown caused enormous distress to millions of poor and marginal farmers who were attempting to save their crops and/or livestock to ensure their livelihoods, but it has also had an impact on the overall poultry, dairy, and other livestock production systems and value chains, nutrition, and health care, as well as labor availability. Many livestock feed manufacturers are experiencing difficulties obtaining feed raw materials and packing ingredients consistently. Truck traffic between states has been restricted, and there were reports of labor shortages.
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