The sold production of farm animal feed premixtures in Austria showed a mixed trend over the years from 2013 to 2023. In 2023, the volume stood at 773.1 million kilograms. There were periods of fluctuations with notable declines, such as in 2016 with a -3.5% year-on-year variation. However, there were also significant growth periods, particularly between 2020 and 2022, with year-on-year increases of 3.93%, 1.17%, and 6.37% respectively. The compound annual growth rate (CAGR) over the last 5 years up to 2023 was 4.77%, indicating a resilient growth trend overall despite short-term volatilities.
Looking forward, the forecasted data from 2024 to 2028 suggests a steady increase in the production of farm animal feed premixtures, with an average annual growth rate (CAGR) of 3.78% and a forecasted 5-year growth rate of 20.41%. This positive trend reflects an expected sustained demand in the market, likely driven by factors such as growing population, increased animal farming activities, and advancements in feed premixture formulations.
Future trends to watch in this market include the impact of innovations in feed technology, increasing regulatory standards on feed quality, and the influence of sustainability practices on production processes. Additionally, fluctuations in global agricultural economies and consumer preferences towards healthier animal products could significantly shape market dynamics.
