Europe Vegan Pet Food Market
No. of Pages: 105 | Report Code: TIPRE00023591 | Category: Food and Beverages
No. of Pages: 105 | Report Code: TIPRE00023591 | Category: Food and Beverages
European continent comprises of economies such as Germany, Russia, France, the UK, and Italy, among others. Veganism trend, the practice of abstaining from the use of animal products, particularly in diet is becoming more popular in the region. More and more people are learning about the damage they are causing to the environment and animal species. The number of vegan population in Europe is increasing at a faster rate. Additionally, easy availability of vegan pet food products having same nutrient content of traditional meat-based pet foods enables pet owners to choose vegan diet over conventional. This is fuelling the demand for vegan pet food products in the Europe region. Easy availability and accessibility to vegan pet food coupled with increase in disposable income has led to an increase in demand for premium pet food products, driving the growth of the European vegan pet food market. According to the European Pet Food Industry in 2019, approximately 85 million households that have at least one pet animal as well as 25% of the households have cat as a pet animal and 24% of the households have dog as a pet. Thus, the factors such as increasing pet ownership, increase in spending on premium pet food products, more awareness about vegan food etc. are providing growth opportunities for the vegan pet food market in coming years.
In Europe, currently, the France and Russia, followed by UK, Italy, Spain, and Germany, are the hardest-hit countries by the COVID-19 pandemic. These countries are estimated to suffer an economic hit due to the lack of revenue from various industries. Other member states have implemented drastic measures and travel restrictions, including partial closing of their border. The COVID-19 outbreak has also affected the supply chain of raw materials required for animal feed industry to a greater extent, which has eventually hampered the overall manufacturing processes and research and development activities, thereby impacting the vegan pet food market growth.
Strategic insights for the Europe Vegan Pet Food provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 4,153.55 Million |
| Market Size by 2028 | US$ 6,851.32 Million |
| Global CAGR (2021 - 2028) | 7.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Vegan Pet Food refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The vegan pet food market in Europe is projected to reach US$ 6,851.32 million by 2028 from US$ 4,153.55 million in 2021. The market is estimated to grow at a CAGR of 7.4% from 2021 to 2028. People value their pets and are also ready to spend significant money on keeping them healthy. The pet owners who are vegan prefer to feed vegan food to their pets. Most of the pet owners always opt for products that have clean labels, sustainability claims, and functional nutrition. Pet lovers also increasingly look for labels and packaging that reflect their personal food choices and demands. Majority of the Europe population consider their pet as a family member. Out of other pets such as birds, rabbits, fish, and others, dogs and cats are the most preferred owing to their friendly nature. Dogs are known for their loyalty and bravery. In addition, some of the families own more than just one dog, making them an integral part of the household. Moreover, the number of pet-friendly workplaces in are increasing at a significant rate across the Europe. Many children are asked by their parents to take care of their pets by themselves. It provides companionship and helps them develop a sense of responsibility. Some young couples also decide to start their family by adopting a dog and treating it like their own child. In every family, pets play a different role as they are trained in a different manner in different countries. This growing humanization of pets increases the awareness regarding the quality and ingredients of the pet food provided by the owners, which propels the demand for the vegan pet food. Furthermore, people are more concerned about the slaughter of defenseless creatures and the decimation of the environment because of animal agriculture. Some people adore their pet so much and they understand that the animals also have emotions such as pain, hunger, love, joy, fear, thirst, and loneliness, like humans. Hence, they prefer vegan diet both for themselves and for their pets, which bolsters the growth of the vegan pet food market.
Europe vegan pet food market is segmented based on product type, pet type, and distribution channel. The Europe vegan pet food market based on product type is segmented into dry food, wet food, and others. Dry food segment accounted for the highest share in the market in 2020 is expected to be fastest growing during forecast period. Based on pet type, is segmented into dogs and cats. The dogs segment accounted for the highest share in 2020 and is expected to be the fastest growing during forecast period. Based on distribution channel, is segmented into supermarkets and hypermarkets, specialty stores, online retail and others. The supermarkets and hypermarkets segment accounted for the highest share in 2020 and online retail segment is expected to be the fastest growing during forecast period.
A few major primary and secondary sources referred to for preparing this report on vegan pet food market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Antos B.V.; Benevo; V-dog; Soopa Pets; Vegan4dogs; Yarrah; and Halo Pets among others.
The Europe Vegan Pet Food Market is valued at US$ 4,153.55 Million in 2021, it is projected to reach US$ 6,851.32 Million by 2028.
As per our report Europe Vegan Pet Food Market, the market size is valued at US$ 4,153.55 Million in 2021, projecting it to reach US$ 6,851.32 Million by 2028. This translates to a CAGR of approximately 7.4% during the forecast period.
The Europe Vegan Pet Food Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Vegan Pet Food Market report:
The Europe Vegan Pet Food Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Vegan Pet Food Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Vegan Pet Food Market value chain can benefit from the information contained in a comprehensive market report.
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