The prepared animal feeds sector in Sweden has experienced a fluctuating trend from 2013 to 2023, starting with a value of 6.88 billion SEK in 2013 and decreasing to 3.65 billion SEK in 2023. The years leading up to 2023 have shown volatility, with significant drops in value, such as a 36.26% decline in 2015. However, intermittently, there was recovery as seen by the 9.04% increase in 2019. Over the last two years, the sector saw consecutive reductions with -3.61% in 2022 and -3.71% in 2023. The 5-year CAGR leading up to 2023 was -0.34%, suggesting a steady downward trend.
Looking ahead, the forecast data from 2024 to 2028 indicates a continued decline in production value, projecting a decrease to 2.97 billion SEK by 2028. The forecasted 5-year CAGR stands at -3.3%, pointing towards an estimated overall reduction of 15.46% over this period.
Future trends to watch for:
- Technological advancements in feed production that could reduce costs and boost efficiency.
- Changes in regulatory frameworks impacting feed quality standards.
- Shift in consumer preferences towards organic and sustainably produced animal feeds.
- Impact of global economic conditions on raw material prices and availability.
