The import of prepared pet foods to Spain has shown a generally increasing trend over the past decade, albeit with some fluctuations. Notably, there was a significant spike in imports in 2021, which was followed by a dip in 2022, and a rebound in 2023 where the volume stood at 724.38 million kilograms. Looking at year-on-year variations, the imports increased significantly by 19.64% in 2023 compared to 2022. Over the past five years, the compound annual growth rate (CAGR) has averaged 32.14%, showcasing robust growth, despite occasional dips.
Forecasts from 2024 indicate a steady growth trend with a five-year CAGR of 9.1%, expecting import volumes to reach 1301.4 million kilograms by 2028. This growth rate implies a substantial rise of 54.54% over the next five years, continuing the upward trend from recent years.
Future trends to watch for include potential changes in consumer preferences towards premium and specialized pet foods, as well as the impact of economic factors on pet ownership rates. Additionally, sustainability trends and regulatory changes around pet food imports could also influence future import volumes.
