The prepared pet food production value in Italy has shown consistent growth from 2013 to 2023, reaching 1,050 million euros in 2023. The market experienced significant year-on-year growth, particularly in 2020 with an 18.99% increase. However, recent years have seen more moderate growth rates, with 1.96% in 2021, 1.91% in 2022, and 1.88% in 2023. The 5-year compound annual growth rate (CAGR) up to 2023 was 5.68%. Moving forward, from 2024 to 2028, the market is expected to grow at a slower pace, with a forecasted 5-year CAGR of 1.38% and an overall growth rate of 7.09%.
Future trends to watch for include:
- Increased demand for premium and organic pet food products.
- Growing focus on sustainability and eco-friendly packaging.
- Technological advancements in pet food production and formulation.
- Potential market saturation and increased competition from international brands.
- Regulatory changes and their impact on production costs and market dynamics.
