2.04% CAGR growth for the next 5 years
The UK animal feed market is expected to reach US$4,849.450 million in 2027 from US$4,210.505 million annually in 2020, growing at a CAGR of 2.04% during the forecast period. Depending on the animal, different feed dosages are provided.
During the forecast period, rapid urbanization in various locations and increased consumption of meat and other final products such as milk and eggs will increase the growth potential of the animal feed market. Feed expands an animal’s capabilities, accelerates growth and weight gain, and boosts immunity by providing more nutrients.
Animal illness outbreaks are a significant motivator for the use of animal feed, which promotes animal health and helps to regulate the food supply chain. Due to expanding meat consumption and health consciousness in the country, the UK animal feed market has a large share of the European feed market.
In the future years, technological improvements in the animal feed industry, together with the country’s established poultry and swine industries, are likely to propel market growth potential. Furthermore, rising public awareness of the health advantages of algae-based components in animal feed is a crucial factor driving market expansion.
Microalgae is essential for enhancing animal feed with nutrients throughout the early phases of cattle development. It also promotes physical growth while ensuring the production of quality eggs, milk and meat.
The demand for animal protein is increasing. Due to changing dietary trends, urbanization, population growth and economic growth, the British Territory is one of the fastest growing areas for meat consumption.
Public awareness and health concerns
In recent years, there has been a growing public awareness of the health benefits of protein intake. Consumers are more concerned about their health. Therefore, they focus on nutrient-rich products derived from calves fed fortified diets.
Moreover, most of the meat consumed in the EU is exported from the UK. The EU accounts for 82% of UK beef exports, according to the UK’s National Farmers Association. The UK exports 30% of her lamb, most of it to the EU.
The outbreak of and unprecedented price hikes have wreaked havoc on the cattle feed market. Livestock immunity is neutralized by dangerous and contaminated feed ingredients, leading to loss of farmer productivity. As disease outbreaks became more regular, ranchers began investing in high-quality feed premixes.
Customers attach great importance to product safety and quality assurance. Illness can affect trade in livestock products such as dairy, meat and by-products. For a long time, affected areas were prohibited from exporting these products until the disease was fully isolated and controlled.
Consumers moving towards veganism
Plant-based diets have been on the rise in the UK since early 2020, according to the Plant-based Food Association. The data shows that as of early 2020, 1.1 million people are eating a plant-based diet. It now shows that her 1.5 million, 3% of the population, have turned to veganism. As people become more health conscious, choose alternatives and move to vegetarian and vegan diets, this could threaten the pet food industry.
Covid and supply chain difficulties
Not only has Covid and the lockdown created tremendous hardship for the millions of poor and marginalized farmers trying to save their crops and livestock to make a living, it has also affected poultry as a whole.
Dairy and other livestock production systems and value chains, nutrition and health care, and labor availability. Many animal feed manufacturers struggle with consistency in sourcing feed ingredients and packaging materials. Interstate trucking is restricted and labor shortages have been reported.
Related article: How sanctions on Russia backfired on Europe’s food supply
- Compound feed
- Aquatic Animals
By Raw Material
- Rendered Meal
By Production Systems
- Commercial mills
Key Topics Covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. UK ANIMAL FEED MARKET ANALYSIS, BY TYPE
6. UK ANIMAL FEED MARKET ANALYSIS, BY LIVESTOCK
7. UK ANIMAL FEED MARKET ANALYSIS, BY RAW MATERIAL
8. UK ANIMAL FEED MARKET ANALYSIS, BY PRODUCTION SYSTEMS
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
10. COMPANY PROFILES
- Cargill Corporation
- AllTech Inc.
- Archer Daniels Midland
- BASF SE
- Kemin Industries, Inc.
- For more information about this report visit https://www.researchandmarkets.com/r/epkr2q
Related article: UK consumers are buying 9.4% less meat
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