The market for animal feed preparations in Austria showed mixed trends from 2014 to 2023. Initially, there was a downward trend from 2014 to 2016, with production value declining by 3.23% in 2015 and 5.85% in 2016. However, the market rebounded with a significant increase of 13.14% in 2017 and continued its growth trajectory through 2018, increasing by 10.67%. The growth moderated in subsequent years, with a slight dip in 2019 (-0.7%). Despite minor fluctuations, the market maintained a positive CAGR, particularly peaking at 7.93% in 2021.
The year 2023 recorded a value of 845.42 million Euros, showing a 3.92% increase from the previous year. Looking ahead from this benchmark year, the forecast data for 2024 to 2028 predicts a steady growth with a 5-year CAGR of 2.66%, resulting in a projected market value of 1000.2 million Euros by 2028, reflecting a 14.05% growth over five years.
Future trends to watch for include increasing demand for sustainable and organic animal feed products, regulatory changes in agricultural practices, and advancements in feed technology that could further boost the market.
