Spain Animal Feed Market Outlook

The spain animal feed market is expected to witness considerable growth in the next few years, owing to the increased consumption of animal-based products coupled with the rising agriculture and fish farming activities in the country. according to the latest market report, published by market research future (mrfr), the spain animal feed market is forecasted to register 7.2 % cagr from 2018 to 2032. the spanish livestock industry is quite sizable and extensive as it is the largest source of income for the farmers and fisherman in the country. this has created greater demand for animal feed by farmers in order to maximize output. besides, the presence of advanced technology and r&d has increased the production of animal feed products and ingredients in spain. the growing popularity of animal feed in the spanish agricultural industry has accelerated the growth of the market. the spanish government is equally focused on offering various support to the farming sector in order to increase the country’s agricultural output. for instance, the development of the agri-food sector in the country has enabled the government to provide incentives to livestock producers who can make use of the latest innovations in the production of animal feed. this augmented focus of the government is likely to steer the growth of the spain animal feed market. in addition, the flourishing seafood industry has led to the emergence of marine-based animal feed products such as fish feed. growing consumption of fish-based animal feed and its associated ingredients has considerably boosted the spain animal feed market growth. moreover, the changing dietary habits among consumers lower meat-intake accompanied with the rising demand for plant-based proteins has led to the rising popularity of vegetarian feed products. furthermore, factors such as growth in the pet meals industry along with emerged alternative proteins and growing animal welfare awareness has widened the scope of the spain animal feed market. however, the current tight supply-demand situation and the recent livestock-related diseases present in the country could hinder the growth of the market to an extent. nonetheless, manufacturers in the spain animal feed market are expected to seek potential opportunities in the organic and natural animal feed sector to compensate the losses caused by the current situations.