The market for preparations for animal feeds (excluding dog or cat food) in Hungary has shown a steady increase from 2013, beginning at 914.83 million euros and reaching 1347.4 million euros by 2023. The market exhibited variability, with a notable dip in 2017 and 2020 but strong recoveries thereafter. The compound annual growth rate (CAGR) over the past five years stood at 2.67%. Year-on-year variations indicate the market's resilience, particularly highlighted by the sharp growth of 16.26% in 2018.
Future trends to watch for include:
- Technological advancements in feed production that could enhance efficiency and reduce costs.
- Increased emphasis on sustainable and environmentally friendly feed solutions driven by policy changes and consumer preferences.
- Potential impacts of geopolitical factors and economic policies on the availability and pricing of raw materials.
How does Hungary rank in Preparations for Animal Feeds (Excluding Dog or Cat Food) Market Size Value?
| # | 20 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Spain | 11,894,000,000 | 2023 | +1.11% | +1.79% | View data |
| 2 | 2 Germany | 10,140,000,000 | 2023 | +1.24% | +0.75% | View data |
| 3 | 3 France | 9,272,400,000 | 2023 | +0.76% | -0.41% | View data |
| 4 | 4 United Kingdom | 7,928,600,000 | 2023 | +0.88% | +0.49% | View data |
| 5 | 5 Italy | 7,248,700,000 | 2023 | +0.72% | +0.73% | View data |
| 9 | 9 Denmark | 2,917,300,000 | 2023 | +1.17% | +0.7% | View data |
| 10 | 10 Portugal | 2,001,000,000 | 2023 | -0.24% | +0.57% | View data |
| 11 | 11 Hungary | 1,347,400,000 | 2023 | +3.33% | +2.67% | |
| 12 | 12 Sweden | 1,327,900,000 | 2023 | -0.29% | +2.29% | View data |
| 13 | 13 Czech Republic | 1,073,000,000 | 2023 | +1.09% | +1.72% | View data |
