The import volume of animal feed preparations to China for the year 2023 stood at 156.32 million kilograms, marking a 1.66% year-on-year increase. Over the last two years, the year-on-year percentage variations show a relatively stable trend, with a 1.72% increase in 2022 and 1.66% in 2023. Analyzing the last five-year period from 2019 to 2023, we observe a compound annual growth rate (CAGR) of 2.12%, reflecting a moderate and consistent growth pattern in import volume.
For the forecasted period from 2024 to 2028, the volume is projected to continue growing, albeit at a slower pace, with a forecasted five-year CAGR of 1.29%. By the end of 2028, the import volume is anticipated to reach 169.64 million kilograms, implying an overall growth rate of 6.61% over these five years.
Future trends to watch:
- Emerging trade policies and how they might impact import volumes.
- Shifts in domestic production capacity and its potential influence on import dependency.
- Technological advancements in animal feed formulation and their effect on import needs.
- Environmental and sustainability factors influencing both global supply chains and import strategies.
