Market Trends of Germany Pet Insurance Industry
This section covers the major market trends shaping the Germany Pet Insurance Market according to our research experts:
Pet Adoption
About 34.9 million pets (excluding fish and reptiles) live in households in Germany. About 47 percent of all households own at least one pet. The COVID-19 crisis in 2020 and early 2021 has generated rising interest among German households in owning pets because of home seclusion and the shift towards working from home, which has benefitted the dog and cat populations and the other pet populations (small mammals). Furthermore, 26% of all households having pets are cats, 21% are dogs, etc.
Revenue from Pet Supplies and Food
The increasing pet industry in Germany also can be seen in the increased revenue from pet supplies and foods. In 2020, pet food sales generated roughly EUR 3.4 billion, an increase from the previous year, amounting to around EUR 3.3 billion.
