Market Trends of Italy Feed Additives Industry
This section covers the major market trends shaping the Italy Feed Additives Market according to our research experts:
A shift in Commercial Production of Livestock
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.
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.
