Europe Pet Foods Market Overview:
There are approximately 70 million households in Europe excluding Russia owning at least one pet, according to the findings by the Pet Food Manufacturers' Association. Furthermore, the annual figures released by the European Pet Food Industry translated to more than 140 million cats and dogs in Europe in 2017. This is leading to growth prospects in the Europe pet foods market which had a opportunities worth $21.5 billion as of 2018. Furthermore, the demand for pet foods in Europe is estimated to increase at a tepid compound annual growth rate (CAGR) of 2.1% during the forecast period of 2019 to 2025.
The People's Dispensary for Sick Animals documents that 49% of the adults in the UK own a pet that attributes to 11.1 million pet cats and 8.9 million pet dogs. This also includes 1 million rabbits. Evidently, the density of pets in the UK is more compared to other regions in Europe, which happens to be the reason the UK is identified as the leading region in the Europe pet food market in 2018 with the market share of 22%.
Europe Pet Foods Market Outlook:
Pet foods are plant or animal materials that are consumed by pets. These include fish food, bird food, cat food, dog food, raw feeding, and hypoallergenic dog food. Pet foods are consumed by a gamut of pet animals that include dog, cat, bird, and fish. Owing to the growing number of dog pets coupled with their higher appetite as compared to other pets, the consumption of pet foods by dogs in Europe will observe a moderate CAGR of 2.9% through to 2025.
Europe Pet Foods Market Growth Drivers:
1. The Humanization of Pets:
The burgeoning animal welfare programs organized across the world have a prevalent theme of humanization of pets. Furthermore, on an emotional level, the owners consider their pets as a part of the family and are now very considerate about the nourishment of their pets. This makes the owner look for some quality meals for their pets, and they don't dither to walk that extra mile in terms of money so that their pets get proper nutritional food. Nowadays, pets are also consuming high-quality premium food which is expensive. However, as a matter of fact, the disposable personal income (DPI) in countries of Europe is poised to grow between annual growth rate that ranges from 0.9% to as much as 7.0, according to the estimations made by the Organization for Economic Co-operation and Development (OECD). So, owing to this healthy DPI, pet owners are now able to afford the expenditure on pet foods, which is leading to better Europe pet foods market revenue.
2. The Growing Concern Pertaining to Obesity in Pets:
Akin to humans, pets are also highly susceptible to the ramifications of obesity. Not only in Europe but in the world, there is an enormous number of pets, especially dogs that suffer from conditions attributable to overweight and obesity. Subsequently, there is a growing concern that is leading to a dire need to control the weight of the pets, thereby eliminating the possibility of repercussions that can also lead to deaths. The growing awareness is making the owners more particular about the weight of their pets, and they are now opting for the expensive therapeutic weight loss foods. The obese pets in the region are creating a special Europe pet foods marketplace for the vendors to explore business opportunities.
3. The Diverse Distribution Places for Pet Foods in Europe:
Previously, the pet foods were only sold at retail shops, but now the market has slithered into the supermarkets, hypermarkets, and convenience store. Furthermore, special or healthy pet foods are now also provided in veterinary clinics. The diverse distribution channels are spreading the Europe pet foods marketplace which is creating a better revenue avenue for the vendors.
Europe Pet Food Market Trends:
1. Natural and Organic Pet Foods -
There is a discernible growth in the natural and organic food and beverages market which is attributable to the growing awareness about the same in people. This trend is tangibly replicating in the pet foods as pet owners want the same safety when it comes to what their pets consume on a daily basis. This potential arcade of organic pet foods is creating business opportunities in the Europe pet foods market.
2. The Veganism Wave Influencing the Europe Pet Food Market -
Many cities in Europe that include Milan, Berlin, Amsterdam, and others are evolving as vegan-friendly cities. This is also impacting the Europe pet food market because the owners are also looking to inculcate vegan food in the diet of their pets.
Europe Pet Food Market Challenges:
While the aforementioned trends are leading to new horizons in the Europe pet food market, the producers have a problem in identifying the demand for the normal pet food and the organic ones. Moreover, the customers of the vendors in the pet food business are demanding more transparency in terms of ingredients and processing. However, the companies are striving to retain their customer-base by providing information about their products.
Europe Pet Food Market Key Players Perspective:
The key players identified in the Europe pet food market are Monge & C., Versele-Laga NV, Vitakraft Pet Care GmbH & Co., Affinity Petcare SA, Neovia, C & D Foods, Agrolimen SA, Heristo AG, and Deuerer.
Europe pet food Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Europe pet food market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the specific applications segments in Europe pet foods on the basis of consumption by dog, cat, bird, and fish. The report analyses the product demand influx in the Europe pet food market by the type of pet foods that include dry food, wet food, and snacks & treats.
Key Questions Addressed in the Europe pet food Market Report
Is the market demand for Europe pet food growing? How long will it continue to grow and at what rate?
Which type of home security system presents the major growth opportunities?
Is there a possibility for change in the market structure over time?
Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
What are the short-term, long-term, and medium-term growth drivers for the market?
What are the short-term, medium-term, and long-term challenges for the market?
What are the short-term, medium-term, and long-term opportunities for the market
Who are the top players/companies of the market?
What are the recent innovations in the market?
How many patents have been filed by the leading players?
What are the types of patents filed by the leading players?
What is our Vision 2030 for the Europe pet food market?
A Few Focus Points Of This Research Are Given Below:
Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
Provide an overview of the product portfolio, including product planning, development, and positioning
Discuss the role of technology companies in partnerships
Explore the regional sales activities
Analyze the market size and giving the forecast for current and future global Europe pet food market during the forecast 2019–2025Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures