Spain Compound Feed Market Size, Share, and COVID-19 Impact Analysis, By Animal Type (Cattle, Swine, Poultry, Aquaculture, and Others), By Ingredient (Feed Cereals, Cakes & Meals, Animal By-Products, and Others), and Spain Compound Feed Market Insights, Industry Trend, Forecasts to 2033

Spain Compound Feed Market Insights Forecasts to 2033

• The Spain Compound Feed Market Size was valued at USD 23.0 Billion in 2023.
• The Spain Compound Feed Market Size is Growing at a CAGR of 4.17% from 2023 to 2033
• The Spain Compound Feed Market Size is expected to reach USD 34.6 Billion by 2033

The Spain Compound Feed Market Size is anticipated to exceed USD 34.6 Billion by 2033, growing at a CAGR of 4.17% from 2023 to 2033. The growing meat consumption & demand for animal protein and emphasis on animal nutrition & health are driving the growth of the compound feed market in the Spain.     

Market Overview

The compound feed market refers to the industry emphasizing production and sale of balanced, mixed feeds for livestock, that are designed to meet the specific nutritional needs of different animal types and stages of production. Compound feed is produced based on animals’ different stages including different physiological requirements and different production uses. Customized compound feed solutions address the specific health and welfare concerns of diverse animal species as per the farmer's needs and livestock producers. There is a high demand for compound feed due to demand for Spain meat as well as urbanization, demographics, incomes, prices, and environmental and health concerns. The rising emphasis on livestock feeding practices and the development and promotion of feed formulations for animals' overall well-being are bolstering lucrative market growth opportunities for compound feed.

Report Coverage

This research report categorizes the market for the Spain compound feed market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Spain compound feed market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Spain compound feed market.

Driving Factors

The growing meat consumption propels the market demand for compound feed. Spanish households spent over 6.4 billion euros on fresh meat in 2022, as per Statista report. The increasing demand for animal protein due to the development of fitness-oriented lifestyles and awareness about the role of protein in post-workout recovery among health-conscious consumers is propelling the compound feed market demand. The surging emphasis on animal nutrition and health is also propelling the market demand for compound feed. In addition, the increased awareness about the quality of meat and dairy products is surging the need for livestock to receive necessary nutrients for optimal growth and production, thereby propelling the market.

Restraining Factors

The shift towards a vegan-based diet limits the number of meat-consuming consumers, thereby restricting the compound feed market. In addition, the fluctuation in raw material prices is challenging the compound feed market.

Market Segmentation

The Spain compound feed market share is classified into animal type and ingredient.

• The swine segment dominates the market with a major market share and is anticipated to grow at a significant CAGR growth during the projected period.

The Spain compound feed market is segmented by animal type into cattle, swine, poultry, aquaculture, and others. Among these, the swine segment dominates the market with a major market share and is anticipated to grow at a significant CAGR growth during the projected period. Spain is a major European pork producer, having a robust swine feed market, with compound feed for pigs being the most significant. The growing demand for pork as well as food safety concerns and animal health & welfare are propelling the market demand in the swine segment.

• The feed cereals segment is expected to hold the major market share and is anticipated to grow at a significant CAGR during the forecast period.

The Spain compound feed market is segmented by ingredient into feed cereals, cakes & meals, animal by-products, and others. Among these, the feed cereals segment is expected to hold the major market share and is anticipated to grow at a significant CAGR during the forecast period. Feed cereals including corn, wheat, and rice, are some of the major cereals that are present in compound feed for providing a balanced and completed diet to the animals. The widespread availability and strong nutritional profile of feed cereals are driving the market in the feed cereals segment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Spain compound feed market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Cargill Inc.
• Alltech Inc.
• Trouw Nutrition Espana SA
• ForFarmers
• De Hues
• Archer Daniels Midland
• Miratorg Agribusiness Holding
• DeKalb Feeds
• Land O Lakes Purina
• Nutreco NV
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In June 2022, Innovafeed and Cargill extended their partnership to bring healthy novel ingredients to aquafarmers. Expanding from three years to ten, the global partnership would jointly develop and market insect meal to help aqua feed customers raise more sustainable seafood with less environmental impact.

Market Segment

• This study forecasts revenue at Spain, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Spain compound feed market based on the below-mentioned segments

Spain Compound Feed Market, By Animal Type

• Cattle
• Swine
• Poultry
• Aquaculture
• Others

Spain Compound Feed Market, By Ingredient

• Feed Cereals
• Cakes & Meals
• Animal By-Products
• Others