Analysis of the sold production of dog or cat food in Italy reveals various cyclical trends and inconsistencies over the years. From 2013, the market saw a substantial dip until 2015, followed by a significant recovery in the 2016-2017 period. Another drop was evident in 2018 but was promptly followed by a stable rise from 2019 onward. As of 2023, the market stood at 1015.4 million euros. Year-on-year fluctuations indicate pronounced volatility, with significant declines and recoveries.
Over the last two years, the market has seen moderate growth. A year-on-year rise of 3.51% was noted in 2023, while 2022 experienced a decline of 11.39%. The Compound Annual Growth Rate (CAGR) over the last five years highlights a positive growth trend, averaging 11.42% yearly. Looking ahead, predictions suggest continued growth, with a forecasted five-year CAGR of 2.41% and an overall growth estimate of 12.66% until 2028.
Future trends to watch for include potential market saturation, evolving consumer preferences towards premium pet foods, and the impact of economic variables on production and consumption patterns. Additionally, sustainability and ingredient sourcing practices may become prominent factors influencing market dynamics.
