Germany Compound Feed Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Germany Compound Feed Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The German compound feed market is projected to register a CAGR of 3.1% during the forecast period, 2022-2027.

Most companies in Germany reported a disruption in demand and supply of compound feed and ingredients amid the COVID-19 pandemic. The animal feed industry had been badly affected by the closure of restaurants in the country. The dramatic shift in consumers' consumption patterns in the light of the COVID-19 outbreak compelled manufacturers to rethink their policies and strategies. During the initial phase of the lockdown, intensified purchases of the ingredient were witnessed by German feed producers. Amid concerns over suspension of production, feed makers engaged in panic buying in various parts of Germany.

Germany's compound feed industry has an increasing demand for red meat. Meat and meat products consumption is growing rapidly due to consumer inclination toward a protein-rich diet and less cost of meat in the country. The consumers' purchasing power in the meat segment is driven by the low prices of meat. The low prices have helped augment the domestic demand for meat. The rising demand for animal products and processed meat has created an opportunity for feed manufacturers to enhance animal productivity, driving the market growth during the forecast period.

Some of the major companies in the studied market include ForFarmers, Cargill Inc., Trouw Nutrition Deutschland GmbH, Alltech Inc., and Royal Agrifirm Group.

The German compound feed industry is driven by the increasing demand for red meat. The consumers’ purchasing power in the meat segment is currently being driven by the low prices of meat. The low prices have helped augment the domestic demand for meat, thus subsequently raising the demand for compound feed from the livestock producers.

Farmers are relying on feed to obtain high performance and quick weight gain in animals over a short period of time. To satisfy the demand for the meat processing industry, livestock farmers need to produce high-quality and hygienic meat, which is a big challenge. The expansion of the meat products industry has created an opportunity for compound feed to spur the market, as these feeds boost immunity and enhance the performance of animals by stabilizing the rumen environment.

The German compound feed market is consolidated with a few major players in the market. The key major players in the studied market are ForFarmers, Cargill Inc., Trouw Nutrition Deutschland GmbH, Alltech Inc., and Royal Agrifirm Group. Leading companies are focused on acquiring feed mills and small manufacturers to expand their business in local and foreign markets. They are also focused on setting up new plants along with increasing the already existing plants' capacity to increase production and have more products.

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