The number of employees in the UK prepared animal feeds sector stood at 16.39 thousand in 2023. From 2013 to 2023, the workforce experienced uneven growth, with notable spikes and drops such as a 14.14% rise in 2017 and a 7.71% drop in 2018. In recent years, from 2021 to 2023, the year-on-year growth remained modest between 0.92% and 0.99%. The 5-year CAGR leading up to 2023 was 1.36%, indicating a steady but slow growth trend. Forecasted numbers suggest incremental yearly growth, culminating in a 3.39% increase over the next five years, translating to a 0.67% annual growth rate.
Future trends to watch for:
- Technological advancements in production and supply chain efficiencies
- Impact of regulatory changes on the industry
- Shifts in consumer preferences towards sustainable and organic animal feeds