Key Market Indicators
Iceland's animal feed sales are projected to decline to €76 million by 2028, down from €86 million in 2023. This represents an average annual decrease of 1.8%. Since 2019, the market has been shrinking at a rate of 5.5% per year. In the 2023 rankings, Iceland was positioned at number 29, overtaken by Croatia at €86 million. Germany, France, and the Netherlands secured the second, third, and fourth spots, respectively. In contrast, Iceland's animal feed imports are on the rise. By 2028, imports are expected to reach approximately 76 million kilograms, up from 62 million kilograms in 2023. This marks a compound annual growth rate (CAGR) of 3.2%. Since 1993, the country's demand for animal feed has increased by 5% annually. On the export front, Iceland saw a significant jump in animal feed exports, reaching 324,000 kilograms in 2018, up from 184,000 kilograms in 2017—a 75.6% increase. However, since 1993, the nation's supply has decreased by an average of 5% per year.
