Global Animal Feed Market 2024

Animal Feed Market Size

The global animal feed market was estimated at $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when the market value increased by 9.7% against the previous year. Over the period under review, the global market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Animal Feed Production

In value terms, animal feed production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 14%. Over the period under review, global production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Animal Feed Exports

Exports

For the eighth year in a row, the global market recorded growth in overseas shipments of animal and pet feed, which increased by 1.6% to X tons in 2022. The total export volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 5% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, animal feed exports rose sharply to $X in 2022. In general, total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +58.9% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

In 2022, the Netherlands (X tons), distantly followed by Germany (X tons), Belgium (X tons), China (X tons), the United States (X tons) and France (X tons) represented the key exporters of animal and pet feed, together creating 54% of total exports. The following exporters - Turkey (X tons), Spain (X tons), the UK (X tons), Italy (X tons), Austria (X tons), Malaysia (X tons) and Hungary (X tons) - together made up 16% of total exports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +16.3%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and the United States ($X) were the countries with the highest levels of exports in 2022, together comprising 33% of global exports. China, Belgium, France, the UK, Spain, Italy, Turkey, Austria, Malaysia and Hungary lagged somewhat behind, together comprising a further 37%.

Italy, with a CAGR of +17.9%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average animal feed export price stood at $X per ton in 2022, picking up by 5.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2021 when the average export price increased by 12%. The global export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.1%), while the other global leaders experienced more modest paces of growth.

Animal Feed Imports

Imports

After two years of growth, purchases abroad of animal and pet feed decreased by -2.7% to X tons in 2022. The total import volume increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 5.5%. As a result, imports attained the peak of X tons, and then fell modestly in the following year.

In value terms, animal feed imports amounted to $X in 2022. Over the period under review, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +57.2% against 2015 indices. The pace of growth appeared the most rapid in 2021 with an increase of 14%. Global imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

The countries with the highest levels of animal feed imports in 2022 were the Netherlands (X tons), Belgium (X tons) and Germany (X tons), together accounting for 22% of total import. South Korea (X tons), France (X tons), Ireland (X tons), the United States (X tons), Norway (X tons), Vietnam (X tons), the UK (X tons), Poland (X tons), Thailand (X tons) and Russia (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Norway (with a CAGR of +23.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and the United States ($X) constituted the countries with the highest levels of imports in 2022, with a combined 14% share of global imports. Norway, Belgium, France, Vietnam, the UK, Russia, Poland, Thailand, South Korea and Ireland lagged somewhat behind, together comprising a further 27%.

Among the main importing countries, Norway, with a CAGR of +22.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average animal feed import price amounted to $X per ton, growing by 6.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2018 when the average import price increased by 8.4%. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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