Market Trends of Italy Compound Feed Industry
This section covers the major market trends shaping the Italy Compound Feed Market according to our research experts:
Increased Compound Feed Production
The per capita consumption of red meat and poultry products around the world has increased rapidly, as it is actively considered as an important source of nutrition/protein by the consumers under different demographics, thus, resulting in increased production of meat products. According to a survey conducted by OECDFAO in the year 2018, meat production increased from 317.17 million metric tons in 2016 to 327 million metric tons in 2018. According to AllTech Feed survey, Italy has a total of 417 feed mills and is estimated to produce a feed of 14.5 million metric tons in 2019 and pork feed production accounts for the major share of 3.731 million metric tons of feed production followed by poultry feed production of value 2.940 in 2019. Hence the increasing production denotes the increasing demand for the compound feed in the country,
Growing Inclination Towards Animal Sourced Food
The demand for higher value and quality foods, such as meat, eggs, and milk, has increased compared to plant-originated foods, such as cereals, owing to the rising demand for greater food varieties and protein intake. These changes in consumption, together with sizeable population growth, have led to large increases in the total demand for animal products in many developing countries. According to the analysis by Coldiretti, total meat sales in the country increased by more than 5% in 2018, as compared to 2017, with pork and poultry sales increasing by 4% each, and beef recorded the largest consumption growth by 5%. Furthermore, this trend is expected to continue in the coming years. The United Nations Food and Agriculture Organization (FAO) estimates that the demand for food will grow by 60% between 2010 and 2050. Furthermore, it also estimated that the production of animal proteins is expected to grow by around 1.7% per year, with meat production projected to rise by nearly 70%, aquaculture by 90%, and dairy by 55%. The increased consumption of animal protein eventually results in increased industrial livestock production accounting for a higher demand for compound feed in the country.
