The geriatric population in Europe has surprisingly turned out to a major reason driving the demand for pet care products in the region. The elderly population across the European continent is growing at a tremendous rate on account of low fertility rate and high life expectancy, among others. According to a report by Eurostat, in 2020, more than one-fifth of the regional population was aged 65 years and above.
The report also states that nearly half a million people across Europe are predicted to become centenarians by 2050. These statistics also point toward the fact that since a large part of the population is likely to suffer from loneliness and depression, the demand for pets will steadily increase year on year. It will eventually have a positive impact on the demand for pet care products, such as food, shampoos, grooming equipment, and medicines.
According to the 2018 annual figures by the European Pet Food Federation (FEDIAF), EU households had 74.4 million cats and 66.4 million dogs and remain the most popular companion pets in the region. However, while these animals play a vital role in improving their owner’s mental and physical health, they come with their own set of risks and health conditions, if not given timely medical care.
Governments across Europe are introducing plans to improve people’s awareness of the importance and benefits of timely pet care. More and more veterinary hospitals are being set up across the region to encourage owners to bring their pets for timely vaccinations and other treatments. Such initiatives can reduce the chances of transmission of diseases from pets to humans and enhance their quality of life.
Cats may become popular pets across Europe:
Based on animal, cats may capture a major share of Europe pet care market in the coming years. One of the major reasons behind this is the growing demand for cats as pets across the region. According to a 2020 report published by the European Pet Food Industry Federation (FEDIAF), around 88 million homes own at least one pet, with 110 million cats being domesticated by humans.
Since many households and factories across the region suffer from rat infestation, the demand for cats has significantly grown in recent years. Cats can protect homes and warehouses from rat invasion. They also play a vital role in keeping crops healthy and safe from rodents, thereby increasing their adoption among people.
Pet foods will gain momentum among owners:
Europe pet care industry size from pet foods will showcase a steady CAGR in the future. The need to humanize pet food is picking up the pace among customers. It has prompted several manufacturers across the region to choose and blend the right type of meat, fish, vegetables, minerals, and vitamins to ensure that pets get tasty and nutritious food that can boost their immunity.
Moreover, pet owners have several brands of pet foods to choose from, which gives them the freedom to decide what type of food is right for their pets and can meet their unique nutrition needs. Such planned efforts by organizations will augment the demand for pet foods.
E-commerce platforms highly used to sell pet care products and services:
E-commerce platforms will positively influence Europe pet care industry forecast in the future. One of the major factors contributing to this is the robust increase in the internet penetration and use of smartphones among the younger generation. It will catalyze the use of e-commerce platforms among customers.
Pet care service providers can effectively use e-commerce sites to sell their products and services, such as pet grooming equipment, medication, shampoos, food items, and many others. These platforms also give customers the freedom to choose the best products and services from a wide range of brands, which will favor their demand.
Europe pet care market outlook will be positively impacted by the strong presence of leading organizations, such as Zoetis Inc., Ancol Pet Products Limited, Idexx Laboratories Inc., Champion Petfoods, Colgate-Palmolive Company, Zooplus AG, and Nestle S.A., among many others. These organizations are entering into partnerships and merger & acquisition agreements to enhance their product and service portfolios and strengthen their customer base.
For example, in October 2020, UK-based Skinner’s announced that it had acquired wet dog food manufacturer Naturediet. The aim of this partnership is to bring together wet and dry dog food capabilities and provide all-inclusive offerings to their clients. The agreement will also help them capitalize on the increasing dog population in the UK.
The significance of owning pets has tremendously increased across Europe in recent years. With the growing elderly population being at a higher risk of falling prey to various physical and mental illnesses, such as depression, anxiety, loneliness, cardiovascular ailments, and obesity, the need to own pets to improve their physical and mental health is growing.
Movements like ‘Adopt, Don’t Shop’ are gaining momentum in the region to help stray animals get a better access to high-quality medical care and foods and enhance their mental and physical health. Such efforts will boost the use of pet care products and services among clients across Europe.