The Bentonite market for animal feed in the US experienced several noticeable changes between 2013 and 2023. Starting from a high of 84.0 thousand metric tons in 2013, there was a consistent downward trend, with total volume falling to 48.4 thousand metric tons by 2023. The period from 2013 to 2017 saw significant fluctuations with steep year-on-year drops like -30.43% in 2016 and lower dips by 2017. Post-2017, the market demonstrated relative stability but with a clear downward trajectory.
Year-on-year percentage variations over the past two years showed slight negative trends with -1.89% in 2022 and -1.87% in 2023. The Compound Annual Growth Rate (CAGR) since 2018 was -1.88%, emphasizing a persistent decline. Looking ahead to forecasted data, the market is projected to continue this downward trend with a predicted 5-year CAGR of -1.67% from 2024 to 2028, suggesting a further cumulative decline of 8.07%.
Future trends to watch for include potential shifts in demand due to changes in livestock production practices, regulatory changes impacting animal feed formulations, and advancements in alternative feed technologies. Monitoring these factors will be crucial for understanding the dynamics of Bentonite usage in animal feed.
