Market Trends of France Compound Feed Industry
This section covers the major market trends shaping the France Compound Feed Market according to our research experts:
Growing Animal Export Market
The demand for meat is increasing rapidly as more and more people are becoming aware of the health benefits of meat consumption. According to Eurostat, in 2018, the country accounted for 11.4% of the total EU poultry meat production.
French animal breeds are highly popular and preferred internationally for meat and other related products. According to ITC Trade, in 2019, live animals worth USD 2.4 billion were exported compared to USD 2.1 billion live animals in 2016. Among all animal types, in 2019, bovine export amounted highest with the value of USD 1.68 billion. The growing consumer appetite toward meat is expected to drive production in the country which in turn, impacts the compound feed market positively during the study period.
Increasing Demand for Feed is Driving the Market
The increasing large-scale livestock production trend will drive the feed market further leading to higher production. According to the Food and Agriculture Organisation (FAO), in 2018 the poultry bird population was 210 million as compared to 213 million in 2017. To cater the growing meat consumption, the production has to be increased. It can be achieved by providing quality feed to the livestock which will increase the yield.
According to the European Feed Manufacturers' Federation (FEFAC), in 2018, the production of compound feed was 20.84 million metric tons as compared to 20.64 million metric tons during the previous year. Among all the segments, poultry feed production was the highest which accounted for 8.6 million tons, followed by cattle feed production which accounted for 5.4 million tons.
