Hyderabad, July 17, 2023 (WORLD NEWSWIRE) — According to a brand-new marketing research report entitled “Europe Pet Food Market Report (2023-2028),” the marketplace is approximated at USD 37.59 billion in 2023. It is anticipated to sign up a CAGR of 4.50% throughout the projection duration.
Pet humanization indicates owners attempting to include animals into more elements of their human lives. Pet humanization is a substantial driver behind the development of the European pet grocery store. Consumers are likewise aiming to plug the familial space with a family pet buddy, leading to a family pet market led by little animals, such as cats and dogs. Growing customer awareness of the animal food types and active ingredients utilized has actually likewise been driving the need for premium animal food throughout the area.
Report Summary:
|
Report Attribute |
Details |
|
Market Size (2023) |
USD 37.59 billion |
|
Market Size (2028) |
USD 46.85 billion |
|
CAGR (2023-2028) |
4.50% |
|
Study Period |
2018-2028 |
|
Forecast Units |
Value (USD billion) |
|
Report Scope |
Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
|
Key Market Drivers |
Growing customer awareness of animal food types. |
|
Increasing pattern of animal humanization. |
Who are the Top Companies in the Europe Pet Food Market?
The European pet grocery store is relatively combined.
The notable gamers holding the European pet grocery store are:
-
Mars Inc.
-
Nestle SA (Purina Petcare)
-
Colgate Palmolive (Hill’s Pet Nutrition)
-
Archer Daniels Midland
-
Heristo AG
-
Tiernahrung Deuerer GmbH
-
Clearlake Capital Group (Wellpet LLC)
-
United Petfood
-
SCHELL & KAMPETER INC (Diamond Pet Foods)
-
General Mills (Blue Buffalo)
-
Sunshine Mills Inc.
Other Reports That Might Be of Your Interest:
-
Mexico Pet Food Market Report – The Mexican pet grocery store size is approximated at USD 2.52 billion in 2023 and is anticipated to reach USD 3.28 billion by 2028 at a CAGR of 5.40% throughout the projection duration (2023-2028).
-
South Korea Pet Food Market Report – The South Korean pet grocery store size is approximated at USD 1.13 billion in 2023 and is anticipated to reach USD 1.69 billion by 2028 at a CAGR of 8.38% throughout the projection duration (2023-2028).
Key Highlights from the Europe Pet Food Market Report:
Increasing Trend of Pet Humanization
-
The broadening population of elderly individuals living alone, decreased interaction with family, and monetary stability are important aspects accountable for increasing animal adoption and the establishing interest in appropriate animal nutrition amongst the elderly population.
-
With the increased parenting of animals, animal food producers are extending premium items targeted towards animal owners. This is anticipated to add to substantial market development throughout the projection duration.
Cat Segment to Hold a Significant Market Share
-
The approval of cats has actually continued to increase in the area. The variety of cat owners has actually increased more than that of dog owners, which shows the relative ease of having a cat as a family pet in the contemporary modern-day way of life.
-
With the increased ownership of cats in the area, cat food continues to be the most popular animal food. Various business are using an increasing variety of premium items and marketing brand-new items as customers are prepared to spend more on animal food that is healthy, healthy, and enhances their living conditions.
What are the Latest Developments in the Europe Pet Food Market?
-
In April 2022, United Pet Food obtained the ‘la Braconne’ commercial system of Neodis Group in Mornac, France. This enhanced United Pet Food’s position as a full-service private-label animal food manufacturer in the European market.
-
In March 2022, Dogs Plate presented a brand-new variety of wet dog food with insect protein for the Poland market. It is preparing to export sales to other European markets.
Mordor Intelligence has Segmented the Europe Pet Food Market Based on Type, Animal Type, Ingredient Type, Sales Channel, and Geography:
-
By Type
-
Dry Pet Food
-
Wet Pet Food
-
Veterinary Diet
-
Treats/Snacks
-
Organic Products
-
-
By Animal Type
-
Dogs
-
Cats
-
Birds
-
Other Animal Types
-
-
By Ingredient Type
-
By Sales Channel
-
Specialized Pet Shops
-
Internet Sales
-
Hypermarkets
-
Other Sales Channels
-
In a nutshell, the Mordor Intelligence marketing research report is a must-read for start-ups, market gamers, financiers, scientists, specialists, business strategists, and all those who are aiming to comprehend this market. Get a look at the Europe Pet Food Market Report (2023-2028).
Mordor Intelligence continuously tracks market patterns. Some pertinent market reports from the experts that may be of interest to you:
-
Pet Dietary Supplements Market Report – The animal dietary supplements market size is anticipated to grow from USD 2 billion in 2023 to USD 3.20 billion by 2028 at a CAGR of 5.90% throughout the projection duration (2023-2028).
-
Russia Pet Food Market Report – The Russian pet grocery store size is anticipated to grow from USD 3.72 billion in 2023 to USD 4.83 billion by 2028 at a CAGR of 5.40% throughout the projection duration (2023-2028).
-
North America Pet Food Market Report – The North American pet grocery store size is approximated at USD 28.94 billion in 2023 and is anticipated to reach USD 34.66 billion by 2028 at a CAGR of 3.67% throughout the projection duration (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory company. At Mordor Intelligence, our company believe in forecasting butterfly results that have the possible to alter or considerably effect market characteristics.
Our marketing research reports are extensive and offer unique information, realities and figures, patterns, and the market’s competitive landscape.
Attachment
CONTACT: Company Name: Mordor Intelligence Email: [email protected] Phone: +1 617-765-2493 Location: Hyderabad, Telangana Country: India
