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 Turkey is seeing a mild growth rate, influenced by factors like changing consumer preferences, increasing pet ownership, and the convenience of online shopping for pet food. This market is experiencing significant growth within the larger Food Market in Turkey.
Customer preferences: As pet ownership continues to rise in Turkey, there has been a noticeable shift towards more natural and holistic pet food options. This is driven by a growing awareness of the importance of nutrition for pets' overall health and well-being. Additionally, there is a trend towards smaller and more specialized pet food brands, catering to specific dietary needs or preferences of pet owners. This shift towards more personalized and health-conscious choices reflects the larger trend of consumers prioritizing wellness and quality in their purchasing decisions.
Trends in the market: In Turkey, the Pet Food Market is experiencing an increase in demand for natural and organic pet food products, driven by consumer awareness of the health benefits and environmental impact of these products. This trend is expected to continue, with the market projected to grow by 7.5% annually until 2025. This presents opportunities for industry stakeholders to develop and market these products, as well as invest in sustainable production processes. Additionally, there is a shift towards e-commerce channels for pet food purchases, with online sales expected to reach 10% of the market by 2023. This trend highlights the need for companies to have a strong online presence and invest in digital marketing strategies to reach and engage with customers.
Local special circumstances: In Turkey, the Pet Food Market is heavily influenced by cultural preferences and regulations. Turkey has a strong pet culture, with many households owning cats and dogs as pets. This has led to a high demand for premium and natural pet food products. Additionally, the Turkish government has implemented strict regulations on pet food, requiring all products to be certified and approved by the Ministry of Agriculture and Forestry. These unique local factors have shaped the Pet Food Market in Turkey, making it a highly competitive and lucrative market for pet food companies.
Underlying macroeconomic factors: The Pet Food Market within The Food market in Turkey is heavily influenced by macroeconomic factors such as the country's economic health and government policies. Turkey has a stable and growing economy, with a GDP growth rate of 7.4% in 2020. This economic growth has resulted in an increase in disposable income and consumer spending, leading to a higher demand for pet food products. Additionally, the country's growing pet ownership rates, as well as the increasing trend towards humanization of pets, are also driving the growth of the Pet Food Market. However, the market is also impacted by factors such as inflation, currency fluctuations, and trade policies, which can affect the cost of production and import of ingredients used in pet food products.
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