The turnover of prepared farm animal feeds in the UK stood at 5.62 billion Euros in 2023. The sector experienced significant fluctuations between 2013 and 2016, with values peaking at 6.49 billion Euros in 2014 before dropping drastically in 2016. From 2017 onwards, the market showcased a stabilization trend with very minimal variations year-on-year, averaging around 0.35% annual growth from 2020 to 2023. The compound annual growth rate (CAGR) from 2018 to 2023 was a modest 0.35%, indicating a period of consolidation after earlier volatility.
Future outlook from 2024 to 2028 suggests a continuation of this stable growth pattern with an anticipated CAGR of 0.25% and a forecasted turnover growth of 1.28% over the next five years.
Future trends to watch for include:
- Increasing demand for specialized and nutrient-enriched feeds.
- Technological advancements in feed production and distribution.
- Greater focus on sustainable and eco-friendly feed ingredients.
- Potential impacts of regulatory changes on feed quality and safety standards.
- Market consolidation as smaller players may merge with larger firms to achieve economies of scale.
