Pet Food - Sweden

Sweden

Revenue in the Pet Food market amounts to US$0.58bn in 2024. The market is expected to grow annually by 2.31% (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$54.78 are generated in 2024.
In the Pet Food market, volume is expected to amount to 217.10m kg by 2029. The Pet Food market is expected to show a volume growth of 0.5% in 2025.
The average volume per person in the Pet Food market is expected to amount to 20.0kg in 2024.

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

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Analyst Opinion

The Pet Food market in Sweden has seen minimal growth, influenced by factors such as changing consumer preferences, increasing competition, and the impact of pet health and wellness trends. This has led to a slow growth rate in the overall Food market, with a focus on quality and natural ingredients driving market growth.

Customer preferences: There is a growing trend among Swedish consumers to prioritize the health and wellness of their pets, resulting in an increased demand for natural and organic pet food products. This shift is driven by a cultural preference for sustainability and ethical treatment of animals, as well as a growing awareness of the potential health benefits of a more natural diet for pets. Additionally, with a rise in pet ownership among younger demographics, there is a growing demand for pet food options that cater to specific dietary needs and preferences, such as grain-free or plant-based diets. This has led to an increase in innovative and niche pet food products in the market.

Trends in the market: In Sweden, the Pet Food Market is seeing a shift towards more sustainable and organic products, driven by consumer demand for healthier, ethically-sourced options. This trend is expected to continue as the market expands, with companies investing in research and development to meet this demand. These developments offer opportunities for industry stakeholders to differentiate themselves and tap into a growing market segment. However, there may also be challenges in terms of cost and supply chain management, as well as potential regulatory changes to address sustainability concerns.

Local special circumstances: In Sweden, the Pet Food Market is heavily influenced by the country's strong emphasis on sustainability and animal welfare. This has led to a rise in demand for organic and environmentally-friendly pet food options. Additionally, Sweden has strict regulations on pet food ingredients, with a focus on quality and safety. This has created a unique market where consumers are willing to pay a premium for products that align with their values. Furthermore, the country's high pet ownership rates and the trend towards humanization of pets have also contributed to the growth of the Pet Food Market in Sweden.

Underlying macroeconomic factors: The Pet Food Market within The Food market in Sweden is significantly impacted by macroeconomic factors such as consumer spending power, government policies, and overall economic health. With a stable and growing economy, Swedes have higher disposable incomes and are willing to spend on premium pet food products. Moreover, the government's supportive policies towards animal welfare and the rising trend of pet humanization are driving the demand for high-quality pet food in the country. Additionally, the increasing aging population and the growing awareness of pet health and nutrition are also influencing market growth.

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.