Definition:
The Pet Food market covers food that has been specifically created to meet the nutritional requirements of domesticated animals, including dogs, cats, as well as feed products for other less common house pets such as rodents and reptiles. Various components that supply vital nutrients for the animal’s health and wellness are often included in pet food.
Additional Information:
The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.
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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Pet Food Market in CIS is facing negligible growth due to factors such as declining consumer spending, changing consumer preferences, and increasing competition. Despite this, the market is still expected to experience slight growth due to the rising demand for premium pet food products.
Customer preferences: As pet ownership continues to grow in the CIS region, there is an increasing demand for premium and organic pet food products. This trend is driven by a shift towards healthier lifestyles and a growing awareness of the importance of nutrition for pets. Additionally, there is a rising preference for personalized and customized pet food options, catering to specific dietary and health needs of individual pets. This is influenced by a growing emphasis on pet wellness and the humanization of pets as family members.
Trends in the market: In the CIS region, the Pet Food Market is experiencing a shift towards more premium and natural pet food products. This trend is driven by the increasing awareness of pet owners towards the health and well-being of their pets. In addition, there is a growing demand for personalized and customized pet food options, as well as a rise in online pet food sales. This trajectory is significant as it reflects the changing preferences of consumers and their willingness to spend more on their pets. It also presents opportunities for industry stakeholders to tap into the growing market and cater to the evolving needs of pet owners through innovative and high-quality products and services. However, this trend can also pose challenges for traditional pet food manufacturers who may struggle to keep up with the changing demands and compete with newer, more specialized players in the market. Overall, the current trends in the CIS Pet Food Market highlight the importance of staying updated and adapting to changing consumer preferences in order to thrive in the competitive landscape.
Local special circumstances: In the CIS region, the Pet Food Market is heavily influenced by the region's large population of pet owners and their increasing disposable income. Moreover, cultural factors, such as the high demand for natural and organic pet food, drive market growth. Additionally, regulatory measures, such as mandatory labeling for pet food ingredients, play a significant role in shaping consumer preferences. These local factors make the CIS market unique compared to other regions and contribute to the dynamic growth of the Pet Food Market.
Underlying macroeconomic factors: The Pet Food Market within The Food market is also affected by macroeconomic factors such as consumer spending patterns, inflation rates, and government policies. Countries with strong economic growth and high disposable incomes tend to have a higher demand for premium pet food products. On the other hand, countries with high inflation rates may see a decline in pet food consumption as consumers cut back on non-essential expenses. Government policies, such as import regulations and taxes, can also impact the availability and affordability of pet food products, thus affecting market performance. Furthermore, the rise in pet ownership and humanization of pets globally is driving the demand for high-quality and specialized pet food products, leading to market growth.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights