The prepared pet foods market in Denmark witnessed significant growth from 2013 to 2023, reaching a market size value of 192.28 million Euros in 2023, indicating a 4.49% increase from the previous year. Between 2019 and 2023, the market maintained a steady Compound Annual Growth Rate (CAGR) of 5.4%, although the year-on-year growth rate varied, showing strong performances in certain years, such as 2019's 16%, and periods of modest growth, like 2021's 0.47%. Forward-looking data predicts the market size continuing to grow at a forecasted 5-year CAGR of 3%, eventually leading to a market value of 232.39 million Euros by 2028, which represents a 15.93% increase from 2023.
Future trends to watch for:
- Increased demand for premium and organic pet foods as consumer preferences shift towards higher quality nutrition for pets.
- Rising pet ownership, particularly among younger demographics seeking companion animals.
- Technological advancements in pet food manufacturing leading to innovative product offerings.
- Growing emphasis on sustainable and eco-friendly packaging within the pet food industry.
- Expansion of e-commerce platforms facilitating easier access to a diverse range of pet food products.