Market Trends of Italy Feed Additives Industry
A shift in Commercial Production of Livestock
Growing consumption of meat and other animal-sourced products has resulted in increased livestock production in the country. In 2022, the poultry sector dominated the Italian feed additive market, accounting for 57.1% of the market share, followed by the swine segment with 29.2%. Growers tend to increase productivity using feed additives, leading to a 4.4% increase in poultry feed production and a 3.4% increase in swine feed production from 2020 to 2022. The increasing mass production of livestock and growing demand for quality meat has resulted in the inclusion of feed additives thus driving the market.
Increasing Feed Production Drives the Market
The industrialization of the livestock sector and increasing concern over animal health is creating the demand for quality feed which in turn influences the feed additives market positively. According to the European Feed Manufacturers' Federation (FEFAC), in 2018 the feed production was 13.98 million metric tons as compared to 13.63 million metric tons in 2016. The poultry feed production was the highest in 2018 which amounted to 5.8 million metric tons.
Additionally, in 2019 the feed production in Italy amounts to over 14 million tons from around 420 plants across the country including various species (poultry, cattle, pigs, rabbits, sheep, horses, horses, fish, pets, etc.). The total turnover is accounted to USD 6.51 billion for the same year. The rising demand for compound feed in the country is expected to provide an impetus to the growth of feed additives during the forecast period.
