From 2016 to 2023, the production value of prepared animal feeds in Spain exhibited substantial growth, reaching 10.53 billion euros in 2023. Over this period, the year-on-year growth varied, peaking in 2017 with a 7.77% increase and experiencing a steady rise in recent years with a 3.91% increase in 2023. The compound annual growth rate (CAGR) from 2016 to 2020 was 5.6%, demonstrating robust market expansion.
From 2024 onward, forecasts suggest continued positive yet slightly slowing growth, with a forecasted CAGR of 2.64% up to 2028 and an overall forecasted 13.92% growth rate for this five-year period.
Future trends to watch for include shifts in consumer demand towards more specialized and nutritionally rich animal feeds, increasing sustainability requirements, and potential regulatory changes impacting production standards. These factors are poised to shape the market dynamics significantly.
