News Pet Industry Revenue Grows Beyond 40bn

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Pet industry revenue grows beyond €40bn
29th June 2020

By Karen Pickwick

The number of pet-owning households across the UK and Europe has reached 85 million with turnover of pet food products at €21 billion and pet-related products and services worth a further €19.7bn – and rising!

Releasing the European Pet Food Federation’s annual overview of the pet population today, secretary general Thomas Meyer, said: “We are delighted – although not surprised – to read this positive pet data.

“Pets are wonderful companions and enhance our lives in so many ways. In addition to offering unconditional love and companionship, science has proven the numerous ways pets are good for our health.
 
“During recent months, we have faced unprecedented challenges to our physical and mental health.  Through these tough times, 85 million European households (about 195.5 million people) will have been grateful for the love their pets provided.”
 
SPENDING

Looking at these figures in more detail, Joeri Van den Bergh of InSites Consulting, said: “The term ‘pet’ has frequently been replaced by ‘companion’ over recent years, with their value recognised throughout the world. Moreover, it is clear that owners have no intention of cutting back spending on their companions.

“I was interested to read that in addition to a massive €21bn turnover for pet food, €8.7bn is spent on accessories and €11bn on services. Our latest research at InSites shows that we care for them as members of the family.”
 
Key European statistics in the overview include:
* Annual sales of pet food products 8.5 billion tonnes
* Annual growth rate of the pet food industry 2.6%
* Pet-related services and products valued at €19.7bn
* 85 million households own a pet (38% of all households)
* Annual turnover of pet food products €21bn.

FEDIAF represents the European pet food industry with about 200 production sites. It is an umbrella organisation of national pet food industry associations plus direct company members.