Analyzing the turnover of prepared farm animal feeds in Finland from 2013 to 2023, we observe a significant decline from 658.3 million Euros in 2013 to 461.7 million Euros in 2023. The initial years saw substantial downturns, notably -16.18% in 2017 and -8.28% in 2016. The sector reached a low in 2020 with 401 million Euros. However, a recovery trend is evident starting 2021, showing positive year-on-year growth leading to 2023 with a 2.94% increase.
From 2024, forecasts suggest a steady albeit modest growth with an average CAGR of 0.29% over the next five years, reaching a turnover of 471.3 million Euros by 2028. This indicates stabilization and slight growth after past volatility.
Future trends to watch for:
- Increasing focus on sustainable and organic farm feeds.
- Technological advancements in feed production.
- Impact of climate change on feed ingredient availability.