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.
As the number of pets being adopted climbs, pet parents are becoming increasingly concerned about the health of their companion animals. Consequently, the increased public awareness of animal mistreatment is a result of the extensive usage of social media.
European animal shelter adoption is becoming more popular among millennials, who are also strong proponents of animal rights. Consequently, local governments are implementing very stringent regulations that defend the rights of animals.
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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 seek out food items with higher nutritional values. They choose numerous kinds of pet foods to give their animals daily nutrients and strengthen their immune systems.
To fulfil the rising demand for healthy foods, major pet food manufacturing companies in Europe are introducing new fortified pet foods. According to FMI, increased customer interest in nutritious and healthy pet food products will be advantageous for companies who produce pet food in Europe.
However, the market is being negatively impacted by the significant capital expenditures required for pet food production, the spread of fake food items, and rigorous regulatory frameworks. With the support of these factors, the demand for pet food in Europe is anticipated to reach a value 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 industry
- By product type, kibble/dry segment holds a considerable market share of 25.0% of the Europe pet food industry
- 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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Get More Valuable Insights
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.
About Future Market Insights, Inc.
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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