The sold production of animal feed preparations in Spain has shown a robust upward trajectory from 2013 to the present, increasing from 21.223 Billion Kilograms to 35.09 Billion Kilograms in 2023. Notably, the market experienced a significant surge of 20.33% in 2021 followed by more moderated growth rates of 1.95% in 2022 and 6.7% in 2023. The recent five-year CAGR until 2023 stood at 6.4%, indicating sustained growth. The forecast anticipates continued expansion with an estimated CAGR of 4.2% up to 2028, projecting the volume to reach 45.784 Billion Kilograms by then, reflecting a total growth rate of 22.84% over the forecast period.
As we look towards the future, key trends to watch include the increasing demand for specialized and high-quality animal feed, driven by higher standards in livestock management and stringent regulatory measures. Additionally, technological advancements in feed production and ingredients, as well as emerging preferences for eco-friendly and sustainable products, are expected to shape the market dynamics.
