The prepared animal feeds sector in Finland has seen a significant decline in production value from 2013 to 2023. In 2013, the sector's value stood at 623.1 million Euros and witnessed a peak growth of 13.37% in that year. However, the following years were marked by a continuous decline, shrinking to 328.4 million Euros by 2023, representing a significant negative year-on-year variation of -6.2%. The compound annual growth rate (CAGR) over the last five years was -6.21%, signifying a steady contraction in this period.
Looking ahead from 2024 to 2028, the forecasted data indicates a continuing downward trend but at a slower pace. The forecasted 5-year CAGR is -2.79%, with an overall anticipated decline of 13.18% by 2028, bringing the sector's production value down to 270.1 million Euros.
Future trends to watch for:
- Emerging technological innovations aimed at improving production efficiencies.
- Changes in consumer preferences towards sustainably produced animal feeds.
- Potential regulatory shifts that could impact the sector's operational dynamics.
- Economic factors influencing feed livestock demand and agricultural productivity.