The turnover for prepared farm animal feeds in Norway was 3.7 billion Euros in 2023. Based on forecasted data, we observe a steady growth trend from 2024 to 2028, with turnover values increasing from 3.8 billion Euros in 2024 to 4.12 billion Euros in 2028. This data suggests a consistent year-on-year growth:
• 2024-2025: 2.1% increase
• 2025-2026: 2.32% increase
• 2026-2027: 2.02% increase
• 2027-2028: 1.73% increase
Observing the CAGR over the last five years, the average annual growth rate stands at approximately 2.2%. This trend is indicative of a robust and growing market for prepared farm animal feeds in Norway.
Looking ahead, factors such as advancements in animal nutrition, increasing adoption of precision farming technologies, and potentially fluctuating raw material costs are trends to watch. These may have significant impacts on both production efficiencies and market dynamics.
