In 2023, the turnover of prepared pet food in Norway stood at 45.3 million Euros. Forecasted data for the years 2024 to 2028 show a consistent upward trend:
- 2024: 47.1 million Euros
- 2025: 48.9 million Euros
- 2026: 50.7 million Euros
- 2027: 52.5 million Euros
- 2028: 54.3 million Euros
Year-on-year variations indicate steady growth: from 2024 to 2025 (3.8%), from 2025 to 2026 (3.7%), from 2026 to 2027 (3.6%), and from 2027 to 2028 (3.4%). The compound annual growth rate (CAGR) over the five-year forecast period is approximately 3.6%.
The upward trend in prepared pet food turnover can be attributed to rising pet ownership and increasing expenditure on pet care. Future trends to watch include innovations in pet food formulations, heightened focus on sustainable and organic products, and the growth of e-commerce channels.
