Portugal: Market for Preparations Used In Animal Feeding 2024

Market Size for Preparations Used In Animal Feeding in Portugal

The Portuguese preparations for animal feeding market skyrocketed to $X in 2022, increasing by 35% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Preparations Used In Animal Feeding in Portugal

In value terms, preparations for animal feeding production soared to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Preparations Used In Animal Feeding

Exports from Portugal

In 2022, approx. X tons of preparations used in animal feeding were exported from Portugal; dropping by -10.7% on 2021 figures. Overall, exports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 25%. 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, preparations for animal feeding exports rose notably to $X in 2022. In general, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 38%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Spain (X tons) was the main destination for preparations for animal feeding exports from Portugal, accounting for a 53% share of total exports. Moreover, preparations for animal feeding exports to Spain exceeded the volume sent to the second major destination, Israel (X tons), sevenfold. Angola (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume to Spain stood at +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+194.2% per year) and Angola (+12.0% per year).

In value terms, Spain ($X) remains the key foreign market for preparations used in animal feeding exports from Portugal, comprising 55% of total exports. The second position in the ranking was held by Angola ($X), with a 6% share of total exports. It was followed by Greece, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain stood at +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (+11.6% per year) and Greece (+3.1% per year).

Export Prices by Country

In 2022, the average preparations for animal feeding export price amounted to $X per ton, jumping by 26% against the previous year. Overall, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preparations for animal feeding export price increased by +63.6% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 30%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: 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 the Netherlands (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Preparations Used In Animal Feeding

Imports into Portugal

In 2022, purchases abroad of preparations used in animal feeding decreased by -3.9% 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; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, preparations for animal feeding imports rose sharply to $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +23.0% against 2018 indices. The pace of growth was the most pronounced in 2021 with an increase of 24%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Spain (X tons) constituted the largest preparations for animal feeding supplier to Portugal, accounting for a 70% share of total imports. Moreover, preparations for animal feeding imports from Spain exceeded the figures recorded by the second-largest supplier, France (X tons), sevenfold. Germany (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+1.0% per year) and Germany (+4.7% per year).

In value terms, Spain ($X) constituted the largest supplier of preparations used in animal feeding to Portugal, comprising 60% of total imports. The second position in the ranking was taken by France ($X), with a 13% share of total imports. It was followed by Germany, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+2.7% per year) and Germany (+7.1% per year).

Import Prices by Country

The average preparations for animal feeding import price stood at $X per ton in 2022, surging by 9.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2018 an increase of 13%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: 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 (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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