The turnover in the Prepared Animal Feeds sector in Italy has shown variability over the years. Since 2013, fluctuations have been evident, with a significant dip in 2014 followed by a relatively stable period. Notably, there was a marked increase in 2020. However, from 2021 onwards, the value has seen a steady decline or stabilization, with 2023 standing at 5.42 billion euros. The sector experienced a modest compounded annual growth rate (CAGR) of 0.28% over the past five years.
Forecasted data from 2024 to 2028 show a slight decrease in turnover, reflecting a forecasted 5-year CAGR of -0.07% and an overall growth rate of -0.34%. This suggests a stagnation in the market, highlighting the need for innovation and adaptive strategies.
Future trends to watch for include:
- Increasing demand for sustainable and organic animal feeds.
- Technological advancements in feed production.
- Potential impact of regulatory changes on the market.
- Market consolidation and the emergence of key players.
- Shifts in consumer preferences towards higher quality and specialty feeds.
