The Spain animal feed market is expected to grow at a CAGR of 1.81% from the market value of US$6874.026 million in 2020 and to grow at the market value of US$7795.53 million in 2027.
The growth is attributed to the growing consumption of meat in the country. Spain is one of the largest meat-consuming countries in Europe.
Industrial livestock production has increased the demand for meat in Spain. And the growth in the export of Spain's meat has also resulted in the growth of the animal feed market in Spain. Animal feeds are a mixture of raw materials and sources from animals or plants that are to be fed to the animals or livestock. The most commonly used raw materials are soybeans, barley, corn, and wheat.
Many other countries prefer to import animal feed from Spain as it is one of the largest producers of animal feed in Europe. Hence, export is one of the major driving factors for the animal feed market in Spain. According to the International Trade Center in 2019, Spain’s export value of meat was around US$8.33 billion. The high demand for meat from Spain comes mostly from Germany, France, Italy, and Portugal. Apart from poultry, Spain is the largest exporter of swine meat as well. In 2019, Spain was valued at US $ X.X billion in swine meat exports in 2019.
According to the European Feed Manufacturers Federation, the capacity of Spain’s feed production is at the top as compared to other countries. As per the report by the World Bank, the total population of Spain increased to 47,351,567 in 2020. The rising population is predicted to drive up the demand for meat consumption. Moreover, advancements in technology have also been a driving factor for the animal feed market in Spain.
Seeing the profit from the animal feed industry, many businesses prefer to invest in the animal feed market in the country. Several budding industrialists look at animal feed manufacturing as an opportunity for the future. Some key market players focus on the expansion of their business and setting up new plants. For instance, In April 2021, Nueva Pescanova, a Spain-based seafood producer, announced plans to expand its company in Peru with an investment of US $ 8.4 million. The new plant has a capacity of 12,700 tonnes of cephalopods, which includes octopus and squid. Whereas the leading key market is showing interest in acquiring the animal feed market in Spain. For instance, Royal De Heus, in 2019, announced plans to acquire Evialis Galicia, a Spanish animal feed plant.
According to the European Feed Manufacturers Federation (FEFAC), Spain is the second-largest meat-consuming country in Europe. However, several campaigns are leading to lower consumption of meat in Spain. For instance, in July 2021, the Ministry of Spain started a campaign called “Eat Less Meat”. Moreover, due to health concerns, people are inclined to avoid meat consumption, and this is projected to raise the number of vegan populations. Additionally, advancements in technology have introduced plant protein products and products that contain the same supplements that are contained in meat. These factors are expected to hamper the growth of the animal feed market in Spain.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market size value in 2020 | US$6874.026 million |
| Market size value in 2027 | US$7795.53 million |
| Growth Rate | CAGR of 1.81% from 2020 to 2027 |
| Base year | 2020 |
| Forecast period | 2022–2027 |
| Forecast Unit (Value) | USD Million |
| Segments covered | Type, Livestock, And Raw Materials |
| Companies covered | PURINA Animal Nutrition, Alltech, Cargill, Covap, Archer Daniels Midland, De Hues, AG Chemi Group |
| Customization scope | Free report customization with purchase |
Spain Animal Feed Market Segmentation