Marel Growth Strategy and Wenger Acquisition
Large and growing end markets
Total size of core end markets EUR +150 billion, with expected growth of 5-7% p.a. until 2026
Pet Food
(4-5% growth p.a. in value)
Aqua Feed
End market size
(EUR bn)
4-5%
128
106
111
117
121
2022
2023
2024
2025
2026
(5-6% growth p.a. in value)
End market size
(EUR bn)
5-6%
55
49
51
55
46
58
58
marel
Plant Based Proteins
(15-20% growth p.a. in value)
End market size
(EUR bn)
7
80
15-20%
13
11
9
2022
2023
2024
2025
2026
2022
2023
2024
2025
2026
Mature and stable market, with growth
driven by increasing pet adoption and
premiumization
Growth further augmented by
humanization of pets and increased treat
frequency
Quality and brand loyal market
•
•
Mature and stable market, with growth
driven by strong underlying growth in
aquaculture
Main trends are growing global fish
consumption, sustainability concerns, and
increasing preference for a healthy diet
Volume driven and relatively
commoditized market
Rapidly developing market with exciting
growth prospects driven by flexitarian diet
and changing consumer behavior
Improved quality, access, and price in
foodservice and retail further drives growth
Emerging growth market with high focus on
food quality and branding
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