The market for flours, meals, and pellets of meat in Spain exhibited noticeable fluctuations from 2012 to 2022. Starting with significant growth between 2012 and 2015, the market's value peaked at 145.14 million euros in 2015. However, from 2016 onwards, a downward trend was observed, with the most dramatic decline between 2017 and 2018. This period marked a sharp year-on-year drop of 19.74%, and the downward momentum continued, albeit at a slower pace, until 2022. By 2022, the market value had reached 103.7 million euros, with consecutive minor declines year-on-year.
Key points on market trends:
- Notable growth between 2012 and 2015 with a peak in 2015.
- Significant decline from 2016 onwards, with the most substantial drop in 2018.
- Gradual decline in market value from 2018 to 2022.
The Compound Annual Growth Rate (CAGR) over the last five years from 2018 to 2022 was negative, indicating an average annual decrease of 4.95%. For the years 2022 to 2023, the market is expected to continue showing a consistent decline in value.
Future trends to watch for include potential market stabilization as companies adapt to changing demands and possibly leverage technological advancements or shifts towards alternative protein sources. Monitoring these trends will be critical in understanding the market's direction beyond 2024.
