The UK prepared pet food turnover has seen fluctuating trends from 2013 to the present. Starting at 2.34 billion euros in 2013 with a slight dip, it peaked in 2015 at 2.99 billion euros. However, a significant drop followed in 2016, continuing a downward trend to reach 2.07 billion euros in 2018. A slight recovery was seen starting in 2019, stabilizing at 2.13 billion euros from 2020 to 2023. The year-on-year variations reflect these fluctuations, with a notable decrease in 2016 and smaller, more stable percentages in recent years. The Compound Annual Growth Rate (CAGR) trend mirrors these fluctuations, with growth peaking and then stabilizing at lower rates in later years.
- Year-on-year variations have been inconsistent, with a significant dip in 2016 and minimal changes from 2020 onward.- The average growth per year over the last 5 years (CAGR) indicates a stabilization trend, particularly since 2019.- Forecasts suggest a flat growth rate through 2028, maintaining the turnover at 2.13 billion euros annually.
Future trends to watch for include:- Potential market saturation limiting growth in the prepared pet food sector.- Influences from raw material costs and how they impact pricing and profitability.- Consumer preferences shifting towards premium or specialized pet food products that could alter market dynamics despite flat overall growth predictions.
