The production value of prepared farm animal feeds in Belgium showed significant fluctuations between 2013 and 2023, reaching €3.47 billion in 2023. Key variations were noted: a notable decline in 2016 by 30.27% followed by minor recovery phases. Noteworthy, the Compound Annual Growth Rate (CAGR) over the last 5 years displays a moderate rise of 1.92%. Looking ahead, the forecast through 2028 predicts minor and steady increments with an average annual growth rate of 0.34%, suggesting a stable but gradual upward trajectory.
Future trends to watch for:
- Innovation in feed composition to enhance nutritional value.
- Sustainability initiatives impacting production methods.
- Regulatory changes influencing production and consumption patterns.
- Market consolidation and the entrance of new players.
