The European market is an important pet food market occupying a market share of about 35%, major contribution being from Western Europe. In 2014, the market was valued at $14.34 Billion. It is projected to grow at a CAGR of 5.09%, maturing into a $19.23 Billion market by 2020.
The rising trend of pet humanization wherein pets are treated with utmost care and hygiene is proving to be a major driver for the market and is leading to major changes in product packing and resourcing of ethically viable products. The heavy competition from large corporations is forcing many new players to develop private label products, focusing on unique and locally sourced products, thereby providing economically viable, appealing and alternative brands. The rise of e-commerce sector giving customers more flexibility and ease in shopping is helping both small and large scale manufacturers to expand easily. The relatively stable and consolidated European market poses the threat of a high entry barrier; many emerging players are using careful product leveraging and innovation to counter this constraint. Also, the growing incidence of pet obesity is causing most consumers to limit the calorie and food content; this is proving to be a dampener for the industry.
The industry is segmented into dry food, wet food, snacks, veterinary food, liquid food, and organic food. Dry food is the largest segment accounting for a large part of total market share, followed by snacks and wet foods. Dry pet foods are more preferred because of their low cost and greater convenience. The free-from products such as grain free, soy free, and low grain products are gaining a major foothold in regard to the increasing health consciousness among consumers. The market is further segmented based on animal type, with cat food holding the largest share in 2014 because cats are more preferred over dogs as cats do not require constant care and attention from humans. The market is propelled by the large interest in pet ownership with an estimated 72 million households owing at least one pet. The market is also segmented based on the pricing mechanisms, sales mechanisms, and by geography. UK is the largest market as nutrition-conscious consumers try to improve their own diets, they simultaneously try to provide more and better nutrition for their pets, spiking sales of vitamins and dietary supplements and Spain is forecasted for high growth.
Major companies in the European pet food market are Affinity Petcare, Deuere, Nestle, Mars Inc., and Heristo AG. Major companies are all focused on mergers and joint ventures to increase their respective market shares in the industry. Huge investments are made in Research and Development sector, focusing on innovative products and pet specific or breed specific products. This provides a wide platform for growth of new players and provides opportunities for development.
In this report we offer,
1. Market Definition for the specified topic along with identification of key drivers and restraints for the market.
2. Market analysis for the Europe Pet Food Market, with region specific assessments and competition analysis on a global and regional scale.
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market on a global and regional scale.
4. Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
5. Identification and analysis of the Macro and Micro factors that affect the Europe Pet Food Market on both global and regional scale.
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Why should you buy this report?
1. For getting a comprehensive overview of the Europe Pet Food Market
2. To gain wide-ranging information about the major players in this industry and the strategies adopted by them.
3. To gain an insight about the major countries/regions in which this industry is blooming and also identify the regions, which are untapped.