In 2023, the prepared animal feeds production value in Norway was recorded at 3.67 billion Euros. From 2024 onwards, the production value is forecasted to increase steadily:
- 2024: 3.77 billion Euros (an increase of 2.72% from 2023)
- 2025: 3.87 billion Euros (an increase of 2.65%)
- 2026: 3.97 billion Euros (an increase of 2.58%)
- 2027: 4.07 billion Euros (an increase of 2.52%)
- 2028: 4.17 billion Euros (an increase of 2.45%)
The compound annual growth rate (CAGR) over the next five years (2024-2028) averages about 2.58% annually.
Future trends to watch for include potential impacts of regulatory changes on the animal feed industry, advancements in feed technology, and shifts in agricultural policies. Global economic conditions and trade agreements could also influence production cost and market demand.
