The wages and salaries in the prepared pet food sector in Spain have shown a steady increase from 2013 to 2023, reaching 86.0 million euros in 2023. The year-on-year variation indicates that the growth rate has fluctuated, with notable increases in 2015 and 2018 at 7.38% and 12.24%, respectively. The last two years, 2022 and 2023, observed a moderate growth rate of 4.29% and 4.12%, respectively. The compound annual growth rate (CAGR) over the past five years was 4.29%, demonstrating consistent sector expansion.
Future trends to monitor include:
- Technological advancements in pet food production that may influence productivity and wage structures.
- Changes in pet ownership demographics which could impact demand and, by extension, wages.
- Economic factors, such as inflation and labor market dynamics, that could affect salary adjustments.
- Forecasted slower growth rate, with an expected CAGR of 2.85% over the next five years, indicating more stable but less aggressive expansion in wages and salaries.
