Pet Food - Serbia

Serbia

Revenue in the Pet Food market amounts to US$93.01m in 2024. The market is expected to grow annually by 4.37% (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$13.11 are generated in 2024.
In the Pet Food market, volume is expected to amount to 42.16m kg by 2029. The Pet Food market is expected to show a volume growth of 1.7% in 2025.
The average volume per person in the Pet Food market is expected to amount to 5.6kg in 2024.

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

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Analyst Opinion

In Serbia, the Pet Food market in The Food market is seeing minimal growth due to factors such as low consumer awareness and limited availability of online services. Despite this, the market is slowly growing as the country's economy continues to improve.

Customer preferences: Consumers in Serbia are becoming more conscious of their pet's health and well-being, leading to a rising demand for premium and organic pet food options. This trend is driven by the increasing importance placed on pets as family members and the growing focus on pet nutrition and wellness. Additionally, there has been a shift towards online shopping for pet food, fueled by the convenience and safety of home delivery during the pandemic. As a result, e-commerce platforms and subscription-based services for pet food have seen significant growth in the market.

Trends in the market: In Serbia, the Pet Food Market is experiencing a shift towards natural and organic pet food products, as pet owners become more conscious about their pets' health. This trend is expected to continue, with pet food manufacturers increasingly focusing on developing premium and specialized products to cater to this demand. This presents opportunities for industry stakeholders to innovate and differentiate their offerings, but also poses challenges in terms of production and pricing. Additionally, with the rise of e-commerce and online shopping, pet food sales are expected to see a significant increase in the coming years, providing convenience for pet owners and expanding the market reach for pet food companies. Overall, these trends indicate a growing demand for high-quality, health-conscious pet food products, highlighting the importance of staying competitive and adapting to changing consumer preferences.

Local special circumstances: In Serbia, the Pet Food Market is heavily influenced by the country's agricultural landscape and cultural traditions of pet ownership. The majority of pet food products are locally sourced, with a strong emphasis on natural and organic ingredients. Additionally, the market is regulated by strict import and labeling laws, ensuring the safety and quality of pet food products. These unique factors contribute to a growing demand for premium pet food options among Serbian pet owners.

Underlying macroeconomic factors: The Pet Food Market within The Food market in Serbia is affected by macroeconomic factors such as consumer spending power, trade policies, and economic stability. The country's stable economic growth and increasing disposable income have led to a rise in pet ownership and spending on high-quality pet food products. However, trade policies and import regulations can impact the availability and pricing of pet food in the market. Additionally, the country's economic stability and fiscal policies can influence overall consumer confidence and purchasing behavior in the pet food market.

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.