From 2013 to 2023, the sold production of dog or cat food in Spain exhibited a steady upward trend, reaching 1001.2 million euros in 2023. The year-on-year variations portray both minor fluctuations and significant growth periods. After hitting a notable 13.17% increase from 2020 to 2021, the market saw a deceleration in growth rate, with a year-on-year increase of 2.77% in 2023. The last five years reflected an average annual growth (CAGR) of 5.83%. The forecast from 2024 to 2028 anticipates a more moderate pace, with a five-year CAGR of 1.95% and an overall growth rate of 10.12%.
Future trends to watch for include:
- Consumer preference shifts towards premium and specialized pet food segments.
- Potential impacts of economic fluctuations and inflation on market growth.
- Growing emphasis on sustainable and natural ingredient sourcing.
- Technological advancements in production and distribution processes.
