The UK Prepared Animal Feeds Sector has experienced fluctuations in production over the past decade. Notably, production saw a peak at 7.23 billion pounds in 2019 but slightly declined to 6.97 billion pounds in 2020. Following this, the sector recovered and steadily grew, reaching 7.40 billion pounds in 2023. The year-on-year variation for 2022 and 2023 was 2.01% and 1.93% respectively, indicating a consistent upward trend. Over the last five years, the sector's CAGR stood at around 4.78%, reflecting moderate but stable growth.
Looking forward, the forecast from 2024 shows a positive trend, with the sector's production expected to climb gradually to 8.13 billion pounds by 2028. The forecasted CAGR for the next five years is 1.48%, revealing a slower but continuous growth rate compared to previous years.
Future trends to watch for include:
- Impact of new nutritional advances and regulations on production processes.
- Shift towards sustainable and eco-friendly ingredients feeding new product developments.
- Technological innovations improving efficiency in feed production.
- Potential disruptions from global supply chain issues and market demands.
