The export of vegetable animal feed from the US to China has experienced significant fluctuations over the past decade. Notably, values peaked in 2017 at $16.32 million but saw dips in subsequent years, with the lowest yearly value recorded in 2014 at $1.45 million. In 2023, the US exported $10.26 million worth of feed, indicating a relatively stable yet inconsistent trend with a 2.32% year-on-year increase, compared to 2.4% in 2022.
Looking at the average annual growth rate (CAGR) over the last five years, the data shows an upward trend at 4.29%. The forecast for the next five years (2024-2028) projects a slower CAGR of 1.66%, with an overall growth rate of 8.58% by 2028.
Future trends to watch for include:
- Potential impacts of evolving trade policies between the US and China.
- The influence of global agricultural production and feed demand.
- Technological advancements in feed production improving efficiencies and costs.
These factors could significantly alter export dynamics, requiring close monitoring for strategic adjustments.
