The consumption of cottonseed feed in Spain has shown consistent growth, moving from 2 thousand metric tons in 2014 to 24 thousand metric tons in 2023. The year-on-year growth rate shows significant variations, such as an extraordinary 700% increase in 2015, followed by a sharp 25% decline in 2016. However, there has been a steady upward trend since 2018, with year-on-year growth rates stabilizing around 4-5% in recent years. The Compound Annual Growth Rate (CAGR) for the last five years stands at 4.78%, indicating a healthy growth trajectory.
Looking forward, the forecasted data suggests a gradual increase, with an expected consumption of 30 thousand metric tons by 2028. The predicted five-year CAGR is 3.71%, with an overall growth rate of 20% over the period from 2024 to 2028.
Key future trends to watch for include:
- Market stability with moderate growth rates
- Potential impact of economic and environmental policies on feed production
- Technological advancements in agricultural practices
- Global cottonseed market fluctuations affecting local supply and demand
