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The Italy Feed Additives Market is segmented By Additives Type (Antibiotics, Vitamins, Antioxidants, Amino Acids, Enzymes, Mycotoxin Detoxifiers, Prebiotics, Probiotics, Flavours and Sweeteners, Pigments, Binders, and Minerals), By Animal Type (Ruminant, Poultry, Swine, and Others).
The Italy feed additives market is projected to grow at a CAGR of 4.3% during the forecast period (2020-2025). Feed additives are essential for animal nutrition, as they improve the quality of feed, and thereby improve animals’ performance and health. Industrialization of the livestock and meat sector is an important factor driving the demand for feed additives. Food safety concerns in the country, especially about the meat and dairy products, have led to increased demand for feed additives BASF SE, Cargill Inc., Alltech Inc., Centafarm SRL, Elanco Italia Spa, Adisseo, ADM Co., and Nutreco N.V, etc. are few among the many leading players in the market. In October 2019, the Italian Esseco Group has acquired the Addcon group of companies a Germany based feed company. This move will help Esseco Group to increase its product portfolio and also expand into a new sector such as animal feed.
With the industrialization of the sector, the use of feed additives has been increasing over the years. The price volatility of natural feed sources during the past decade leads to an increment in the usage of different feed additives in the animal feed industry. Industrialization of the livestock, feed, and processed meat industry has necessitated the application of feed additives, as they act as a supplement, nutrient enhancer, feed conditioner, etc., with all required essential elements for optimum growth of the animals.
|Flavors and Sweeteners|
|Other Animal Types|
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Growing consumption of meat and other animal-sourced product has resulted in increased livestock production in the country. According to the Italian National Institute of Statistics (ISTAT), in 2016 pig population was 8.47 million heads to 8.57 million heads in 2017 whereas cattle population in 2016 was 5.93 million to 5.94 million in 2017. According to the Food and Agriculture Organisation (FAO), in 2016, the poultry bird production was 167.39 million heads which increased to 175.29 million heads in 2018. The increasing mass production of livestock and growing demand for quality meat is resulted in the inclusion of feed additives thus driving the market.
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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.
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The Italy feed additives market is fragmented with the market being competitive. The leading players in the market studied are focused on business expansion, by either investing in new production units or acquiring established small players in the region. BASF SE, Cargill Inc., Alltech Inc., Centafarm SRL, Elanco Italia Spa, Adisseo, ADM Co., and Nutreco N.V, etc. are few among the many leading players in the market.
1.1 Study Assumptions & Market definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Additive Type
5.1.4 Amino Acids
5.1.6 Mycotoxin Detoxifiers
5.1.9 Flavors and Sweeteners
5.2 Animal Type
5.2.4 Other Animal Types
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Competitor Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Cargill Inc.
6.3.2 Alltech Inc.
6.3.3 BASF SE
6.3.4 Elanco Animal Health
6.3.5 Danisco Animal Nutrition
6.3.6 Archer Daniels Midland
6.3.7 Centafarm SRL
6.3.9 Lallemand Inc
6.3.11 Nutreco NV
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19