The production in the prepared animal feeds industry in the UK has exhibited significant fluctuations over the past decades. From a high of 217.1 million pounds sterling in 2013, the market saw a notable decline until 2016. Post-2016, the industry experienced a mixed recovery with both peaks and troughs, culminating in a value of 189.8 million pounds sterling in 2023.
Key variations in percentage over the period show substantial year-on-year changes: a notable peak with a 48.48% increase in 2019 and a sharp decline of 21.23% in 2018. On an average annual basis, the Compound Annual Growth Rate (CAGR) for the last five years leading to 2023 was 7.1%.
Future trends are optimistic, projecting a modest but steady increase in production, with an average annual growth rate of 0.77% over the next five years, resulting in a forecasted value of 199.3 million pounds sterling by 2028.
Future trends to watch for include shifts in consumer preferences towards organic and specialty feeds, advances in feed technology, and potential impacts of regulatory changes in the agricultural and food sectors. Monitoring these factors will be crucial for stakeholders in this market.
