Between 2013 and 2023, the sold production of farm animal feed premixtures in Italy exhibited significant fluctuation. The sector experienced sharp drops in 2013 and 2014 by 20.97% and 19.74% respectively. A notable decline occurred in 2015 by 30.77%, followed by a recovery in 2016 with a 51.55% increase. Growth continued in 2017 and 2018 with increases of 45.86% and 20.32% respectively. From 2019, the market displayed robust growth with 33.82%, except for a dip in 2020 by 30.21%. Recovery resumed in 2021 with minor reduction of 9.79%, whereas a drastic rise in 2022 by 59.48%. The last recorded value for 2023 shows a 13.29% increase with the market standing at 754.54 Million Euros.
Looking forward, the forecasted data suggests a steady increase, with a predicted value of 976.34 Million Euros by 2028. The future Compound Annual Growth Rate (CAGR) for the next five years is expected at 4.07%, indicating a moderate yet consistent growth phase. The total growth rate over this period is anticipated to be 22.07%.
Future trends to watch for include:
- Continued technological advancements in feed production
- Increasing demand for high-quality animal nutrition
- Impact of regulatory changes and sustainability initiatives on production processes
- Market consolidation and strategic mergers and acquisitions among key players
