The maize feed market in Austria has observed a consistent decline from 2014 to 2023, with the value reducing from 1.57 million metric tons in 2014 to 1.13 million metric tons in 2023. The year-on-year variation in 2023 was -1.91%, and the compound annual growth rate (CAGR) over the last five years was -2.08%, indicating a steady downward trend.
Examining the historical data:
- In 2015, the market saw a significant drop of 26.95%.
- The subsequent years experienced a mix of minor increases and decreases.
- From 2019 to 2023, the market showed a gradual decline each year.
For the future, forecasts predict a continuation of this trend with a predicted decrease to 1.02 million metric tons by 2028. The forecasted five-year CAGR through 2028 is -1.66%, equating to an overall decline of 8.05%.
Future trends to watch for include:
- Changes in agricultural policies or subsidies that could impact maize production.
- Technological advancements in animal feed that could reduce maize dependency.
- Shifts in demand due to changes in the livestock industry.
- Fluctuations in global maize prices affecting the domestic market.
