The Germany animal feed market is projected to grow at a CAGR during the forecast period.
Germany is one of the major animal feed markets in Europe. The rising awareness regarding the nutritional intake of animals and the diseases associated with the deficiencies is projected to be one of the prominent factors propelling the market growth of the Germany animal feed market during the forecast period. However, the rise in the vegan trend in the country and the consequent reduction in the consumption of meat is expected to have a negative impact on the market in the coming years. Although the consumption of pork has been declining in Germany, it is still the highest consumed meat in Germany and hence the swine feed segment is projected to have the largest share throughout the forecast period, due to widespread livestock farming of swine in the country.
The recent outbreak of the novel coronavirus disease had a negative impact on the Germany animal feed market. Lockdown and travel restrictions implemented to spread the curb of the coronavirus led to a supply chain disruption issue in the animal feed market and consequently led to a decline in the market growth in 2020. However, as the restrictions are being eased and the vaccination drive has started, the animal feed market is expected to recover and continue at its normal pace from 2021 onwards.
Rising awareness of animal diseases
According to a study published in 'Animals', a journal from MDPI, in June 2021, Selenium deficiency is widespread in sheep herds in Germany. It stated that more than one-third of the investigated herds showed Se deficiency. Hence, if no mineral feed is provided or the Se content of the mineral feed is low then there is a risk for Se deficiency in grazing sheep herds. The study showed that the deficiencies of Selenium, Copper, Cobalt, among various others, are prevalent in animals in Germany. The awareness regarding the required nutritional intake of animals has increased over the years among German livestock farmers. This is expected to further increase the focus on animal feed for proper nutritional intake of animals in Germany, and hence is projected to propel the growth of the Germany animal feed market during the forecast period.
Decreased meat consumption trend to hamper growth
According to data from Germany's Federal Agricultural Information Centre (BZL), the consumption of meat has been declining in Germany over the years. It shows that the total meat consumption has decreased from 62.4 kilograms per person in 2010 to 57.3 kilograms per person in 2020. Pork consumption has been witnessing a sharp decline, diminishing from 40.2 kilograms per person in 2010 to 32.8 kilograms per person in 2020. This trend of reduced meat consumption is expected to continue in the future as the vegan trend has been gaining popularity in Germany, and hence is expected to harm the Germany animal feed market in the coming years.
Segmentation