Portugal: Animal Feed Market 2024

Animal Feed Market Size in Portugal

The Portuguese animal feed market soared to $X in 2022, surging by 35% against the previous year. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Animal Feed Production in Portugal

In value terms, animal feed production soared to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Animal Feed Exports

Exports from Portugal

Animal feed exports from Portugal reduced markedly to X tons in 2022, with a decrease of -15.8% against the year before. Over the period under review, total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -21.9% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 22% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, animal feed exports surged to $X in 2022. Overall, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of 30% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for animal feed exports from Portugal, accounting for a 50% share of total exports. Moreover, animal feed exports to Spain exceeded the volume sent to the second major destination, Israel (X tons), fourfold. Sao Tome and Principe (X tons) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain totaled -1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+192.9% per year) and Sao Tome and Principe (+12.2% per year).

In value terms, Spain ($X) remains the key foreign market for animal and pet feed exports from Portugal, comprising 46% of total exports. The second position in the ranking was taken by Mauritius ($X), with a 6.1% share of total exports. It was followed by the Netherlands, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value to Spain amounted to +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mauritius (+25.9% per year) and the Netherlands (+127.6% per year).

Export Prices by Country

The average animal feed export price stood at $X per ton in 2022, surging by 37% against the previous year. Overall, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, animal feed export price increased by +78.8% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Animal Feed Imports

Imports into Portugal

In 2022, purchases abroad of animal and pet feed decreased by -8.9% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 26% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, animal feed imports reduced modestly to $X in 2022. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 36% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of animal feed to Portugal, with a 82% share of total imports. Moreover, animal feed imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold. The third position in this ranking was held by Germany (X tons), with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+12.8% per year) and Germany (+30.4% per year).

In value terms, Spain ($X) constituted the largest supplier of animal and pet feed to Portugal, comprising 72% of total imports. The second position in the ranking was held by Belgium ($X), with a 5.9% share of total imports. It was followed by Germany, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+2.7% per year) and Germany (+13.0% per year).

Import Prices by Country

In 2022, the average animal feed import price amounted to $X per ton, picking up by 6.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2018 an increase of 18% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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