Europe Pet Care Products Market, Expected to Soar at a CAGR of 7.2%...

Europe Pet Care Products Market, Expected to Soar at a CAGR of 7.2% by 2033: Insights from Industry Experts

Postado 2024-05-27 10:46:58

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The Europe pet care products market is forecasted to experience significant growth, with a projected compound annual growth rate (CAGR) of 7.2% from 2023 to 2033. The market value is expected to rise from US$ 11,440.8 million in 2023 to US$ 23,026.7 million by 2033.

In 2022, the Europe pet care products industry was valued at US$ 10,737.3 million. It is expected to demonstrate year-on-year (Y-o-Y) growth of 6.2% in 2023.

The pet care products market in Europe has seen an influx of brands, including foreign and international players, in recent years. This trend can be attributed to the growing demand for pet care products in the region.

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Another factor is the increasing popularity of premium and organic pet care products.

Several new brands are offering innovative and specialized products. It includes all-natural food and treats, CBD-infused products, and smart pet technology.

Online sales channels can play a crucial role in boosting demand. These are marketplaces specifically focused on pet care products. Few key names include Chewy, Zooplus, and PetSmart. These platforms attract pet owners looking for a wide range of products, providing the ideal opportunity to expand.

Brands are also leveraging social media platforms such as Facebook, Instagram, and Twitter to promote pet care products. They do so by creating engaging content, sharing product updates, and interacting with potential customers. Target advertisements and collaborations with influencers in the pet care niche would provide novel outlets for pet care brands

Existing brands are improving their offerings and pricing strategies to remain competitive. There has been a growing trend in Europe’s market towards investing more in research and development (R&D).

For example, in 2021, Nestle Purina PetCare announced that it will be investing US$ 110 million in a new pet food manufacturing facility in Poland that will focus on R&D and innovation. The facility will feature state-of-the-art technology and equipment to develop new pet food formulations and improve existing ones.

As well as in 2021, Royal Canin, a leader in pet health nutrition, announced the launch of a new range of wet food for cats in Europe. It is formulated with a specific nutrient profile designed to support cats’ urinary tract health. This investment reflects a broader trend in the pet care industry, as companies seek to differentiate themselves. They are offering innovative, high-quality products that meet the evolving needs and preferences of pet owners.

Key Takeaways from the Europe Pet Care Products Market Study

Based on product type, pet toys division is anticipated to surpass at a robust rate with a CAGR of 13.6% in the Europe market.
By pet type, the dog segment is estimated to increase at a CAGR of 8.3% and hold a share of 49.9% of the Europe market by 2033.
On the basis of cat litter box, the self-cleaning litter box held the dominant position with a revenue share of 33.7% of the Europe market in 2022.
By sales channel, online retailers segment is expected to exhibit a CAGR of 10.9% during the forecast period.
Germany is set to hold a mammoth share in the Europe market and own 18.7% of shares by 2033.

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“Rise of e-commerce has significantly influenced the pet care market. The ease of online shopping has contributed to the increased demand for pet care products which will aid the market’s growth over the forecast period.” – says a lead FMI analyst

Who is winning?

Key companies in the pet care market in Europe are actively investing in research and development to create innovative products and expand their distribution channels. Alongside key manufacturers, there are also small firms offering more affordable Europe pet care products.

Key manufacturers are increasingly focusing on e-commerce platforms and direct-to-customer sales. They are investing in user-friendly websites, online marketplaces, and subscription models to enhance customer engagement.

Nestle Purina
Trixie Heimtierbedarf GmbH & Co. KG
Josera petfood GmbH & Co. KG
Robert Bosch GmbH
Fressnapf Tiernahrungs GmbH
Ancol Pet Products Ltd.
Danish Design Pet Products Ltd.
The Clorox Company
Spectrum Brands Holdings, Inc.
Gor Pets Ltd
Rosewood Pet Products Ltd
Happy Pet Products Ltd
Dogtra Europe
SportDOG Europe
Garmin Europe
Num’axes
PACDOG
Sure Petcare (SureFlap)
Ferplast S.p.A.
Closer Pets
Catit
Zolux
Ruffwear
Others (as requested)

For instance,

In June 2022, the goal of Mars Pet Nutrition, a branch of Mars Petcare, to source all of the seafood used for its pet products sustainably from Europe in accordance with Mars’ sourcing standards, has been accomplished.
In October 2020, Spectrum Brands Holdings, Inc. announced the acquisition of Armitage Pet Care, a leading provider of pet treats and accessories in the United Kingdom. This acquisition is expected to expand Spectrum’s presence in the European pet market.

Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the Europe pet care products market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study divulges compelling insights on the Europe pet care products market by product type (bark collar, carrier backpacks, cat litter, litter box, {bowl, feeders & waterers}, pet containment, pet doors, harness & leashes, pet toys), by pet type (dog, cat), by sales channel (modern trade, convenience stores, pet stores, multi-brand stores, online retailers, other sales channel) and country.

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