Published Date: 2021-01-22
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According to the Graphical Research new growth forecast report titled “Europe Pet Care Market Size By Type (Pet Food {Nutritional, Medicated}, Pet Care Products {Veterinary Care Products, Supplies/OTC Medications}, Service {Pet Grooming/Boarding, Live Animal Purchase), By Animal (Dogs, Cats, Birds, Fishes, Horses), By Distribution Channel (Stores, E-Commerce), Industry Analysis Report, Regional Outlook (Germany, UK, France, Spain, Italy, Russia, Austria, Belgium, Netherlands, Poland, Portugal, Switzerland)”, Estimated To Surpass USD 46.6 Billion By 2027
Rise in adoption of pets will augment the demand for pet products and services in Europe, thereby uplifting the market growth. According to the European pet food industry, approximately 85 million European households own at least one pet animal. This can be attributed to the humanization of animals that has led to adoption of more dogs and cats, thereby leading to an increase in number of pet owners opting for pet products and services. Moreover, increasing disposable income in the region has compelled European population towards pet adoption that is further contributing to the increased demand for pet products. Furthermore, owning a pet can aid in boosting immune system and encourages towards regular exercise and a healthy lifestyle. This factor is additionally augmenting the demand for pet care services. Hence, the above-mentioned factors will significantly propel the Europe pet care market growth in the coming years.
However, lack of awareness in developing and under-developed regions and low out of pocket expenditure on pet healthcare are some of the major factors restraining the market growth.
Based on type, the Europe pet care market is segmented as pet food, pet care products and service. Pet food segment held significant market share in 2020 and was valued at more than USD 24 billion. The higher market share is owing to pet food being the essential and necessity for pets that compels the pet owners to buy good quality pet food in order to provide nutritious food to their pets. In addition, rising adoption of therapeutic weight loss food due to the rising awareness pertaining to the obesity. Several brands are attempting to offer natural, organic and non-processed food due to the growing demand for grain-free pet product and the demand for organic food, thereby contributing to the market growth. Hence, the above-mentioned factors will significantly foster the segmental growth that in-turn will propel the overall market growth in the coming years.
Based on animal, the Europe pet care market is segmented as the market is bifurcated as dogs, cats, birds, fishes, horses and others. Birds segment is anticipated to expand at 1.9% CAGR from 2021 to 2027. Companionship, pet birds’ aesthetic sense and security and social comfort are the major factors contributing towards adoption of birds. Moreover, the increasing urbanization drives the need to bring home pet birds. For instance, Italy tops the European region pertaining to the adoption of birds. Therefore, increasing bird adoption is anticipated to drive the market for food products of pet birds. Hence, the above-mentioned factors will significantly propel the market growth in the coming years.
Based on distribution channel, the Europe pet care market is segmented as stores and E-commerce. Stores segment held majority market share in 2020 and was valued at more than USD 27 billion. The higher market share is owing to the growing customer preference for shopping on stores. Pet owners are focusing towards providing more attention in choosing pet products that is augmenting the preference for stores. Furthermore, easy and rapid accessibility and availability of pet products such as veterinary care supplies and OTC medications in case of urgency is a major factor uplifting the number of people option for stores. Hence, the above-mentioned factors will significantly fuel the segmental growth that in-turn will propel the overall market growth in the coming years.
UK pet care market is anticipated to expand at 4.5% CAGR and foresee a similar growth trend in the coming years. The higher market growth in the country is owing to the changing lifestyle leading to growing adoption of pets. In addition, rising number of pet care foundations in the country including the Pet Care Federation is contributing to the market growth. Moreover, pet food has made the largest contribution in the UK. For instance, as per a published article, pet owners in the UK do not have time to spare for their pets that compels the pet owners to prefer commercial pet food with other pet products and services. Furthermore, presence of well-established market players in the country and growing awareness pertaining to the adoption of dogs is contributing to the market growth. Hence, the above-mentioned factors are fostering the pet care market growth in UK.
Some of the major industry players involved in Europe pet care market include Ancol Pet Products limited, Champion Petfoods, Heristo akteingesellschaft, Colgate-Palmolive Company, Zoetis Inc., Idexx Laboratories Inc., Nestle S.A., Zooplus AG among others. These market players are adopting various strategies in order to strengthen their industrial position. In addition, the investments made by these players is creating opportunities for global expansion of the market. For instance, in February 2017, Zoetis Inc. announced the European commission approval for Stronghold Plus, a topical combination of parasiticides. The strategic move assisted the company in enhancing their product portfolio and expanding their customer base.
Europe pet care market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Europe Pet Care Market, By Type, 2016-2027 (USD Million)
Europe Pet Care Market, By Animal, 2016-2027 (USD Million)
Europe Pet Care Market, By Distribution Channel, 2016-2027 (USD Million)
The above information is provided for the following region and countries:
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