Europe’s Growing Love for Dogs and Cats to Boost Pet Food Industry

Published Date : Feb 04, 2016

The billion dollar pet food industry is mainly fueled by the rising purchasing power of consumers and growing urbanization in developed regions of Europe and North America. While North America is the largest market for pet food, Europe is projected to witness remarkable growth in the coming years.

Rising Number of Pet Owners Driving Europe Pet Food Market 

The European Pet Food Industry Federation, in a 2012 report, stated that the number of households in Europe with at least one pet was estimated to be a whopping 72 million. In the next decade or so, this number is anticipated to rise at a rapid pace. In terms of volume, the Europe pet food market is projected to total 4,602.5 kg by the year 2021 and in terms of value, this market is forecast to reach US$28.1 bn by the same duration. 

Here’s a look at the major determinants for the pet food market in Europe. 

  • The demand for organic pet foods in Europe is rather high, given the growing awareness about pet health among pet owners in the region. The rising incidence of obesity in pets has also had a positive impact on the demand for healthy pet food products.
  • Pet companionship is a rising preference, which is likely to drive the global pet care and pet food industry. Pets provide protection, companionship, and affection and for a lot of pet owners, pets are cared for like children and are given just as much love and protection as kids. This growing association with pets such as dogs and cats has driven consumers to increase spending on pet care in terms of medical attention and food. 
  • The cat and dog population in Europe is extremely high compared to other pets such as aquatic animals, small mammals, birds, and reptiles. This greater preference for dogs and cats as pets is estimated to boost the pet food market in the region.