The UK prepared animal feeds sector has shown fluctuations in turnover over the past decade. In 2023, the turnover reached £8.49 billion, reflecting an annual growth of 1.96% from the previous year. Over the last two years, the sector saw moderate increases of 2.04% and 1.96% respectively. The CAGR for the past five years stands at 4.57%. From 2024 onwards, the forecast suggests a stable growth trend with a projected 5-year CAGR of 1.51%, culminating in a turnover of £9.35 billion by 2028.
Future trends to watch for include:
- Increasing focus on sustainable and organic ingredients in animal feeds.
- Technological advancements in feed production and nutrition optimization.
- Regulatory changes affecting animal feed formulations and market dynamics.
- Potential impacts of Brexit on ingredient imports and overall supply chain.
