According to Future Market Insights’ latest report, the Europe pet food market is anticipated to reach US$ 36.4 billion by 2033. Overall pet food sales across Europe are set to increase at a moderate CAGR of 5.3% over the forecast period of 2023 and 2033. One of the key factors facilitating the pet food demand in the region is growing trend of pet humanization.
With growing adoption rate of pets, pet parents are becoming increasingly conscious regarding the health of their companion animals. Subsequently, penetration of social media platform is also aiding in the rising awareness towards animal cruelty.
Millennials across Europe are inclining towards adopting shelter animal and are fighting for the animal rights. Consequently, governments across the region are imposing several stringent regulations favorable for the animal rights.
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As per the study, over the years, there has been a sharp increase in the adoption of dogs and cats across European countries such as the United Kingdom and Germany. For instance, as per the UK Pet Food, around 34% of households across the United Kingdom had dogs.
Similarly, about 28% of households had cats. High adoption of these pets is eventually elevating demand for pet food across Europe and the trend is expected to continue during the projection period.
Rising focus on pet health and growing knowledge of the advantages of protein intake for animals are expected to boost pet food sales across Europe during the projection period.
Pet owners are looking for food products that have higher nutritional value. They are opting for various types of pet foods to provide daily nutrition to their pets as well as improve their immune systems.
Key pet food manufacturing companies across Europe are launching new fortified pet food to meet growing demand for healthy foods. FMI predicts that Europe-based pet food manufacturers will benefit from growing consumer interest in high nutritional and healthy pet food products.
However, significant capital expenditures necessary for pet food production, penetration of counterfeit per food products, and strict regulatory frameworks are negatively influencing the market. Backed by these factors, the pet food demand across Europe is set to surpass a valuation of US$ 61.2 billion by the end of 2033.
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Key Takeaways from Market Study
- Europe’s pet food market is estimated to be valued at US$ 36.4 billion in 2023.
- By nature, the conventional segment holds a significant market share of 67.0% of the Europe pet food market.
- By product type, kibble/dry segment holds a considerable market share of 25.0% of the Europe pet food market.
- In terms of pet type, dog segment holds a share of 55.0% in the Europe pet food industry.
- The United Kingdom pet food market is poised to exhibit a steady growth rate during the next ten years.
- With increasing pet adoption rates, demand for pet food across Germany is expected to rise at a moderate CAGR between 2023 and 2033.
“Key players are making significant investments in research and development to introduce new products with eco-friendly packaging to strengthen their presence across Europe”, says a lead analyst at Future Market Insights.
Who is Winning?
Leading companies offering pet food include Mars Incorporated, Evanger’s Dog & Cat Food Company, Inc., Mc Adams Pet Foods Limited, Nestle Purina Pet Care, Affinity Petcare SA, Symrise, Roll Over Pet Food Ltd., The Pet Food Market, Canagan Group, Mera Pet Food Family, and Wagg Foods Ltd., Sabre Pet Food.
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Future Market Insights, in its new offering, provides an unbiased analysis of Pet Food presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights into the Europe Pet Food Market based on Product Type (Kibble/Dry, Dehydrated Food, Freeze Dried Food, Freeze Dried Raw, Wet Food, Frozen, Raw Food, Powder, and Treats & Chews), Nature (Organic, Mono protein and Conventional), Distribution Channel (Store-based Retailing, Online Retailers), Source (Animal derived, Plant derived, and insect-derived), Pet Type (Cat, Dog, Birds, and Others(Rabbits, Hamster, etc.)), and Packaging (Pouches, Bags, Folding Cartons, Tubs & Cups, and Can) across various European countries.
About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations- the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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