According to analysis by ResearchAndMarkets.com the pet food market in Europe is projected to grow at a compound annual growth rate of 7.41% during the forecast period from 2023 to 2030.
The information is taken from a new report entitled the “Europe Pet Food Market 2023-2030”.
The report evaluates the market in various European countries, including Belgium, France, Italy, Poland, the United Kingdom, Germany, Nordic Countries, and Rest of Europe.
In France, almost half of households own pets, such as dogs, cats, rabbits, birds, fish, and other animals. Concerned about the health and fitness of their pets, owners are becoming more cautious about the food they provide. This has led to a preference for premium and breed-specific pet foods. As a result, the pet food market in France is expected to witness significant growth, with increased spending on functional meals and supplements.
In the United Kingdom, the pet care market is experiencing growth due to changing lifestyle trends, positive attitudes towards pets, the rise of nuclear households, and an increase in the millennial population. Additionally, there is a growing demand for vegan pet food products as people shift towards feeding their pets plant-based diets. Market leaders are focusing on innovation and research and development (R&D) to offer high-quality products and expand their business, including opportunities for international expansion.
Market dynamics in the pet food industry include drivers such as the high demand for premium and organic pet food, increased spending on pet food, rising demand for therapeutic pet food, and the growth of e-commerce as a distribution channel.
Challenges include deceptive claims by manufacturers regarding ingredients leading to pet obesity and threats to production and the supply chain. On the other hand, market opportunities arise from the desire for sustainable and value-driven brands, the humanization of pets, growing awareness of the health benefits of supplements, and the increasing pet adoption rate worldwide.
For more information about this report visit https://www.researchandmarkets.com/r/e426vq