Between 2013 and 2023, the production value of prepared farm animal feeds in Finland has shown a consistent decline. Beginning at 595.4 million euros in 2013, the value dropped to 323.5 million euros in 2023. The year-on-year variations reveal significant annual drops, notably since 2015, reflecting a continuous downward trajectory. In the recent two years, the decline has been relatively moderate, with -5.81% in 2022 and -4.94% in 2023. The five-year CAGR, from 2019 to 2023, stands at -5.19%, emphasizing a substantial average annual decrease.
The forecasted data from 2024 to 2028 indicates that the decline will persist, though at a slower rate compared to the past decade. The average annual decline (forecasted 5-year CAGR) is expected to be -2.13%. By 2028, the projected production value will be 278.3 million euros, reflecting an overall decline of 10.23% from 2023.
Future trends to watch for in the prepared farm animal feeds market in Finland include potential shifts due to technological advancements in feed production, changes in agricultural policies, and evolving dietary trends in livestock. Additionally, environmental sustainability concerns could drive innovation and efficiency improvements in the industry.