The production in the prepared animal feeds sector in Italy stood at 5.13 billion Euros in 2023. The sector saw variations over the previous years, with a notable decline in 2014 followed by gradual increases and minor fluctuations until 2020. The period from 2021 to 2023 saw slight decreases and has stabilized at 5.13 billion Euros. The year-on-year variations show minor fluctuations recently with a significant drop in 2021.
Key year-on-year variations over the last two years:
- 2022: -0.018%
- 2023: -0.02%
The average annual variation (CAGR) over the last five years (2019-2023) is marginally positive at 0.09%. Looking forward, from 2024, the production is expected to have a slight downward trend with an annual decrease of approximately 0.01%, based on forecasted data up to 2028.
Future trends to watch for:
- The influence of economic conditions on production costs and demand.
- Technological advancements in production efficiency.
- Potential shifts in consumer preferences towards alternative pet nutrition products.
- Regulatory changes impacting animal feed production standards and practices.
