The Finnish dog and cat food market has displayed fluctuations in volume over the years, with 2020 experiencing a notable dip of 10.04%. However, the market has rebounded since then, reaching 88.375 million kilograms in 2023. The year-on-year variations for the past two years were 6.34% in 2022 and 2.87% in 2023. The compound annual growth rate (CAGR) over the last five years stands at 1.11%. Future projections indicate a steady volume increase, growing at a forecast five-year CAGR of 0.6%, resulting in a 3.06% growth rate by 2028.
Future trends to watch for include:
- Rising consumer preferences for premium and specialized pet food.
- Potential impacts of economic fluctuations on pet ownership and expenditures.
- Technological advancements in pet food production and distribution.
