Pet Food - Baltics

Baltics

Revenue in the Pet Food market amounts to US$270.90m in 2024. The market is expected to grow annually by 3.50% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$59,740m in 2024).
In relation to total population figures, per person revenues of US$46.53 are generated in 2024.
In the Pet Food market, volume is expected to amount to 108.30m kg by 2029. The Pet Food market is expected to show a volume growth of 1.1% in 2025.
The average volume per person in the Pet Food market is expected to amount to 17.6kg in 2024.

Key regions: Russia, Spain, Philippines, United Kingdom, India

Market

Region

Region comparison

Currency

Analyst Opinion

The Pet Food Market in the Baltics has seen limited growth due to factors such as low consumer spending on pet food, lack of awareness about the benefits of premium pet food, and the presence of low-cost alternatives. Despite this, the market is expected to see a modest increase in demand in the coming years.

Customer preferences: As consumers in the Baltics become more health-conscious, there is a growing trend towards pet owners seeking natural and organic pet food options. This is driven by a desire for transparency and a belief that natural ingredients are more beneficial for their pets' overall well-being. Additionally, with the increasing popularity of plant-based diets among humans, there is a rise in demand for vegetarian and vegan pet food options, catering to the growing number of pet owners who follow the same dietary preferences.

Trends in the market: In the Baltics, the Pet Food Market is experiencing a rise in demand for natural and organic pet food products, as pet owners become more health-conscious for their furry companions. This trend is expected to continue as consumers prioritize the quality and nutritional value of their pets' food. Additionally, in line with the overall growth of e-commerce in the region, there is also a growing trend of purchasing pet food online. This presents opportunities for industry stakeholders to capitalize on digital channels and innovative marketing strategies to reach a wider customer base and stay ahead of the competition.

Local special circumstances: In the Baltics, the Pet Food market is heavily influenced by the region's unique geographical traits, such as its cold weather and vast forests. This has led to a demand for specially formulated pet foods that cater to the dietary needs of pets in this climate. Additionally, cultural factors, such as the high pet ownership rates and the strong attachment to pets in these countries, have contributed to the growth of the market. Furthermore, the regulatory environment, which prioritizes animal welfare and quality standards, has led to the development of premium pet food products in the Baltics. This combination of local factors has created a distinct market landscape for pet food in the region.

Underlying macroeconomic factors: The Pet Food Market in the Baltics is heavily influenced by macroeconomic factors such as consumer spending, disposable income, and overall economic growth. As the region continues to experience economic stability and growth, consumers are becoming more willing to invest in premium pet food products for their beloved pets. However, any changes in national economic health, such as fluctuations in currency exchange rates or changes in consumer confidence, can have a significant impact on the purchasing power of consumers and ultimately affect the performance of the Pet Food Market. Fiscal policies, such as taxes and import/export regulations, also play a crucial role in the market's growth and profitability. Therefore, companies operating in the Pet Food Market must closely monitor and adapt to these macroeconomic factors to remain competitive and sustain growth in the Baltics.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.