Pet Food - Greece

Greece

Revenue in the Pet Food market amounts to €286.80m in 2024. The market is expected to grow annually by 2.42% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€55,400m in 2024).
In relation to total population figures, per person revenues of €27.84 are generated in 2024.
In the Pet Food market, volume is expected to amount to 191.00m 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 18.1kg in 2024.

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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Pet Food Market in Greece has seen minimal growth, influenced by factors such as low consumer awareness and limited online services. Despite this, the market is expected to gradually expand due to increasing adoption of digital technologies and changing consumer preferences.

Customer preferences: There has been a notable increase in demand for premium, natural and organic pet food products in Greece, driven by a growing awareness of the importance of pet nutrition among pet owners. This trend is further amplified by the rise of pet-humanization, with owners treating their pets as part of the family. As a result, there has been a shift towards more specialized and customized pet food options, catering to specific dietary needs and preferences. This trend is expected to continue as pet ownership continues to rise in Greece.

Trends in the market: In Greece, the Pet Food Market is experiencing a rise in demand for natural and organic pet food products, driven by the increasing awareness of pet owners about the importance of proper nutrition for their pets. This trend is expected to continue, with more pet food companies expanding their offerings to cater to this demand. Additionally, e-commerce is gaining momentum in the Greek market, with online sales of pet food products expected to grow significantly in the coming years. This presents opportunities for industry stakeholders to tap into the growing online consumer base and expand their distribution channels. Furthermore, the trend towards humanization of pets is also influencing the pet food market, with pet owners seeking premium and specialized products for their beloved companions. This shift in consumer behavior has opened up avenues for innovation and differentiation within the industry, allowing companies to cater to the evolving needs and preferences of pet owners.

Local special circumstances: In Greece, the Pet Food Market is heavily influenced by the country's strong cultural ties to pet ownership. Greeks have a deep love for their furry companions and are willing to spend a significant amount of money on their pets' food. Additionally, Greece's geographical location as a Mediterranean country has resulted in a traditional diet for pets that is rich in fish and olive oil. This has led to the emergence of premium pet food brands that cater to this specific dietary preference. Furthermore, Greece's strict regulations on pet food quality and safety have created a high standard for pet food products, ensuring that they meet the nutritional needs of pets.

Underlying macroeconomic factors: The growth of the Pet Food Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending, disposable income, and economic stability. In countries with increasing disposable income and a strong economy, the demand for high-quality pet food products is on the rise. Moreover, government initiatives promoting pet ownership and the humanization of pets are also contributing to the growth of the market. On the other hand, economic downturns and financial instability can have a negative impact on the market, as consumers may cut back on non-essential expenses such as premium pet food. Additionally, changes in trade policies and tariffs can also affect the import and export of pet food products, further influencing market performance.

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.