The production value of prepared pet food in the UK has shown notable fluctuations since 2013. After peaking in 2015 at 2.69 billion Euros, a significant decline followed, bottoming out in 2018 at 1.81 billion Euros. Minor fluctuations around 1.84 billion Euros from 2019 to 2023 indicate potential market stabilization. By 2023, the production value stood at 1.84 billion Euros. Over the last two years, the market exhibited minimal variation, with a year-on-year change of -0.15%. The 5-year CAGR from 2018-2023 stands at 0.28%.
Forecasts from 2024 onwards suggest a steady production value close to 1.83 billion Euros, with a 5-year forecasted CAGR of -0.12%, indicating a slight downturn. Future trends to watch include potential market disruptions due to shifts in consumer preferences towards high-quality or premium pet food, regulatory changes, or technological advancements in production.
