Between 2013 and 2023, the turnover for prepared animal feeds in the UK has experienced varied changes. It peaked in 2015 and then saw a significant drop in 2016, followed by a period of relative stability with minor year-on-year fluctuations. The value stood at 7.75 billion euros in 2023, with a recent trend showing small increases towards stabilization. The last two years reported minor growths of 0.26% each year, and there was an average annual variation (CAGR) of 0.41% over the past five years.
Future trends to watch for:
- The forecasted CAGR from 2024 to 2028 is expected to be modest at 0.19%, indicating limited growth potential in this period.
- Trends in raw material prices and dietary shifts in pets and livestock could influence market dynamics significantly.
- Technological advancements and sustainability practices in feed production could alter competitive landscapes.
