The Europe pet food market is expected to exhibit a moderate CAGR of 1.30% within a forecast period from 2015 to 2021. The market was recorded at US$25.7 bn in 2014. By the end of 2021, the Europe pet food market is expected to reach US$28.1 bn, as stated in a research report released by Transparency Market Research, titled “Pet Food Market - Europe Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021.” The report provides an accurate analysis of the macro and micro factors that influence this market, including socioeconomic factors.
Browse the full Pet Food Market - Europe Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021 report at http://www.transparencymarketresearch.com/europe-pet-food-market.html
The pet food being manufactured in Europe is rapidly diversifying. Manufacturers are paying more attention to the increasingly diverse types of pets that people are keeping. In addition to the type of pets, more and more people are becoming aware of the differences in nutrition and food intake for different breeds of cats and dogs, thus increasing the scope of growth for the pet food market.
According to the report, the key driver of the Europe pet food market is the increasing number of dog owners in this region, coupled with the higher awareness towards pet health and nutrition. All countries in the Europe pet food market are considered major areas for growth.
The Europe pet food market is segmented according to food type, pet type, and country, for the sake of a simpler yet descriptive grasp over the market dynamics.
On the basis of food type, the Europe pet food market is being led by the dry food segment. This segment is expected to be valued at US$11.1 bn by the end of the report’s forecast period. Meanwhile, the fastest-growing food type segment is nutritious food, exhibiting a CAGR of 2.70% in the given forecast period.
In terms of pet type, the Europe pet food market was dominated by the cat food segment in 2014, when it was valued at US$11.9 bn. It is expected to maintain its leading position throughout the report’s forecast period. The others segment is expanding at the fastest CAGR of 2.0% from 2015 to 2021.
The report considers seven major regions in the Europe pet food market. Among these regions, the U.K. held the largest share in the market in 2014. The report, however, states that the U.K. pet food market is expected to show a very slow growth rate, owing to a saturated market, with most consumers opting for top and credible players.
On the other hand, Spain is showing a rapid growth rate in the Europe pet food market. It is exhibiting a CAGR of 1.90% in the given forecast period. Spain is showing a rapid growth rate due to the rapidly increasing consumer awareness about different types and brands of pet food.
Another region considered as a prime location for sales in the Europe pet food market is Italy. However, market saturation and high inflation rates are causing Italy to progress at a CAGR of just 0.1% from 2015 to 2021.
The key players in the Europe pet food market are Pedigree Whiskas, Nutro, Cesar, Big Heart Pet Brands, Purina, Colgate-Palmolive, Affinity Petcare, and Nestle S.A.
Key segments of the Europe Pet Food Market
Europe Pet Food Market: By Country
- Rest of Europe
Europe Pet Food Market: By Pet Type
- Dog Food
- Cat Food
Europe Pet Food Market: By Food Type
- Dry Food
- Wet Food/ Canned Food
- Nutritious Food
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