Europe Pet Food Market

Description

Worldwide changes in sociocultural aspects, lifestyle and increased humanization of animals have enhanced the potential for Global Pet Food market. Europe is no exception to it. The market of Pet food in the region is currently accounted for US$XX Million and is expected to grow to US$XX Million by 2022, at a CAGR of XX% during the forecast period. Currently, Europe generates around 30% of world’s pet food and pet care sales. The reason for the anticipated growth is increased rates of divorce, growing number of nuclear families and a rapid increase in the educated and socially aware population.

Market Dynamics:

The market is driven by frequent product launches and increased awareness about the specific nutrition required by different breeds. Innovation in products, targeting specific age groups, sizes and medical conditions are gaining popularity in the industry. A trend of premiumisation and growing popularity of natural and organic products has also affected the industry. Customers are also interested in the origins of the products, to ensure authenticity. For instance, the most progressive research areas in the industry find insects as a feasible source of proteins. Many industries are launching products which are therapeutic, hypo allergic in nature. A trend for insect protein was clearly observed in recent years. A demand for convenience has made the single-serve products, in particular very popular. The increased attention to the health issues, in both, humans and pets, is fueling the trend of functional food. The ‘functional’ ingredients present in pet foods have special nutritional benefits, in terms of general well-being and health issues such as digestion, immune system strength joint & cartilage function, or dental health in pets.

Market Segmentation:

The pet food market in Europe is segmented into wet/canned food, snacks/treats, dry food, nutraceuticals, and others – on the basis of food type. The segment of dry food has the biggest share in the European Pet food market. The segment of nutritious food is the most swiftly developing segment during the forecast period. Recently, when it comes to choosing a pet, Europeans have been giving their first preference to Cats, followed by Dogs, Small Mammals, Fishes and Reptiles. Thus, Cat food is the largest market segment, on the basis of pet type.

Geographical Analysis:

Germany has the largest proportion of pet humanization in Europe. However, The United Kingdom is the biggest consumer of pet foods, followed by Germany, Russia, Poland, Spain and France. The difference between the market share of Germany and U.K. is not huge and the scenario is expected to change, with Germany taking the lead, due to sluggish growth of the market, presently in the U.K., The market is expected to grow most rapidly in Italy and Spain, followed by Germany and France.

Key Players

Some of the key players in the industry include Husse, Nestle (Swiss), Colgate-Palmolive, Affinity Petcare, Big Heart Pet Brands, Purina, Pedigree Whiskas Cesar, and Nutro.