Pet Food - Finland

Finland

Revenue in the Pet Food market amounts to US$0.44bn in 2024. The market is expected to grow annually by 3.00% (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$78.70 are generated in 2024.
In the Pet Food market, volume is expected to amount to 89.97m kg by 2029. The Pet Food market is expected to show a volume growth of 1.5% in 2025.
The average volume per person in the Pet Food market is expected to amount to 15.0kg in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Pet Food Market in Finland has seen minimal growth due to factors such as low consumer demand, limited availability of premium pet food options, and the preference for homemade pet meals. Despite this, the market is expected to experience some growth in the future due to the increasing number of pet owners and their willingness to spend on high-quality pet food products.

Customer preferences: As pet owners become more health-conscious, there is a growing demand for natural and organic pet food products. This trend is driven by concerns over the quality and safety of traditional pet food ingredients. Additionally, with the rise of social media and influencer culture, pet owners are seeking out trendy and visually appealing pet food options that align with their own dietary preferences. This has led to the emergence of boutique pet food brands and online retailers catering to niche diets such as grain-free, raw, and vegan options.

Trends in the market: In Finland, the Pet Food Market is seeing a shift towards premium and organic pet food products, driven by increasing consumer awareness about the importance of nutrition for pets. This trend is expected to continue as pet owners become more health-conscious and seek out high-quality and natural options for their furry companions. Additionally, there is a growing demand for customized and personalized pet food, with companies offering tailored diets based on breed, age, and health conditions. These trends are expected to drive innovation and competition in the market, as well as increase the importance of marketing and branding strategies for pet food companies in Finland. Furthermore, the rise of e-commerce and online shopping is also impacting the Pet Food Market, with more consumers opting for the convenience of purchasing pet food online. This trend is expected to continue as online retailers offer a wider range of products and competitive prices. For industry stakeholders, staying up-to-date with these trends and adapting to the changing market landscape will be crucial for success in the Pet Food Market in Finland.

Local special circumstances: In Finland, the Pet Food Market is influenced by the country's strict regulations on pet food ingredients and production processes. The market is also heavily influenced by the Finnish culture, where pet ownership is seen as a significant part of people's lives. This has led to a demand for high-quality, natural, and organic pet food options. Additionally, Finland's geographical location and climate have contributed to the popularity of frozen and raw pet food products, catering to the country's outdoor lifestyle and appreciation for nature.

Underlying macroeconomic factors: The performance of the Pet Food Market within The Food market in Finland is largely impacted by macroeconomic factors such as consumer spending patterns, government policies, and economic stability. The country's high income levels and strong pet ownership culture have contributed to the steady growth of the pet food market. Additionally, the Finnish government's initiatives to promote sustainable and ethical pet food production have created opportunities for market players. However, the market is also affected by global economic trends, such as changes in commodity prices and currency exchange rates, which can impact the cost of raw materials and the price of pet food products. Moreover, fluctuations in the country's GDP growth rate and unemployment levels can also influence consumer purchasing power and ultimately, the demand for pet food products.

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.