Market Size of Spain Compound Feed Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Spain Compound Feed Market Analysis
The Spain Compound Feed Market size is estimated at USD 23.14 billion in 2023, and is expected to reach USD 28.42 billion by 2028, growing at a CAGR of 4.20% during the forecast period (2023-2028).
- The technological revolution in the animal feed industry has led to an increase in the production of compound feed. According to the European Feed Manufacturers' Federation (FEFAC), in 2021, Spain was ranked first in total compound feed production for farm animals in Europe, with 25.56 million metric tons of compound feed production as compared to 25.37 million metric tons in 2020. Industrial livestock production resulting in increased feed production coupled with demand for Spain meat is leading to higher export and driving the feed market.
- The country's expanding compound feed business has pushed global giants to bolster their presence in the Spanish market. Furthermore, the market has been pushed by technical advancements in the animal feed business. Some of the leading players, like Cargill Inc, Trouw Nutrition España SA, Alltech Inc., ForFarmers, and Nutreco NV., are dominating the market.
- The business relationship between Spanish farmers and feed makers is another aspect that contributes to the industry's success. In feed manufacturing, animal protein processing, and marketing, there is a close strategic alliance of partners between large swine and chicken producers. This approach generates high-quality, low-cost Spanish animal protein, which has helped to keep hog and chicken exports competitive.
