The import of animal feed preparations into Austria saw varied growth rates from 2013 to 2023. Initially, there was significant growth, marked by a notable increase of 15.46% from 2013 to 2014. Despite experiencing some declines in 2015 and 2016, the trend generally moved upwards, with significant growth peaking in 2017 at 27.2%. Between 2018 and 2023, the imports steadied with moderate year-on-year increases averaging around 2.8%. Standing at 163.24 million USD in 2023, the market displayed resilience. The past 5-year CAGR before 2023 was around 2.86%.
Forecasts from 2024 to 2028 project a steady growth with a CAGR of 1.91%, predicting the market to hit 184.21 million USD by 2028. The predicted growth rate over the forecasted five years stands at 9.9%, indicating sustained market expansion albeit at a slower pace compared to historical trends.
Future trends to watch:
- Potential impacts of global trade policies on import dynamics.
- Shifts in demand due to changes in livestock farming practices and dietary preferences.
- Technological advancements in animal feed formulations and production processes.
- Environmental regulations influencing the sourcing and composition of animal feed.
