The prepared animal feeds sector in Denmark saw variable growth from 2013 to 2023, with the actual value standing at 16.43 billion Danish Krones in 2023. The sector experienced notable fluctuations, such as a significant rise in 2017 and sharp declines in 2019 and 2020. From 2021 onwards, the sector started recovering moderately, reaching an average annual growth (CAGR) of -2.68% over the last five years leading to 2023.
Looking forward, forecasts suggest a steady increase, with the sector expected to grow at an average annual rate (5-year CAGR) of 2.62%, ultimately reaching a value of 19.38 billion Danish Krones in 2028, with a total growth of 13.79% over the forecast period from 2023 to 2028.
Future trends to watch for:
- Technological advancements in animal feed production for improved efficiency and sustainability.
- Increasing demand for specialized feeds driven by trends in pet ownership and livestock farming.
- Regulatory changes affecting the composition and production processes of animal feeds.
- Impact of global supply chain dynamics on feed ingredient availability and prices.
