The sold production of prepared pet foods in Austria experienced significant growth from 2013 to 2023, with the value rising from 189.35 million Euros in 2013 to 468.64 million Euros in 2023. Over the past decade, the market has shown a consistent upward trend, highlighting robust demand and an expanding market for pet foods. Year-on-year growth rates have fluctuated throughout the years, with particularly notable increases in 2018 (12.71%) and 2020 (12.94%). Recent years have shown slightly more moderate but still strong growth, with 9.49% in 2022 and 8.59% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years stands at 10.03%. Looking ahead, the market is forecasted to continue its growth trajectory, reaching 648.47 million Euros by 2028, albeit at a slightly slower CAGR of 5.11% over the next five years.
Future trends to watch for include:
- Consumer preferences shifting towards premium and specialized pet foods, which could drive higher value sales.
- Increased humanization of pets leading to greater spending on pet nutrition and care.
- Technological advancements in pet food production, including sustainability and health-focused innovations.
- Potential market impacts from economic changes or regulatory developments affecting the pet food industry.
