The turnover in prepared animal feeds in Denmark displayed fluctuations over the past decade, peaking at 2.69 billion Danish Krones in 2017 and reaching a low of 1.7 billion in 2015. As of 2023, turnover stood at 2.22 billion Danish Krones. Year-on-year variations were significant, with extremes like a 49.2% increase in 2016 and a 24.74% decrease in 2018. In the last two years, the growth rates were relatively stable, 0.86% in 2022 and 0.83% in 2023. The 5-year CAGR was 1.8%, indicating modest annual growth.
Key future trends to watch for:
- Market stabilization with forecasted growth of 0.58% CAGR from 2024 to 2028.
- Increased consumer demand for premium and sustainable animal feed products.
- Technological advancements in feed production enhancing efficiency and quality.
