The Austrian prepared pet food market showed significant variability from 2013 to 2023, with values expressed in million euros. In 2023, the market stood at 595.2 million euros. Between 2013 and 2014, the turnover dropped by 7.78%, followed by fluctuating yet primarily positive year-on-year growth rates, peaking at 10.55% in 2017. From 2019 to 2023, the year-on-year growth rates steadily decreased from 4.91% to 2.09%. The annual CAGR has shown a generally declining trend, dropping from an 8.22% spike in 2019 to 3.4% in 2023. The forecasted CAGR over the next five years from 2024 to 2028 is expected to be 0.84%, with a total growth rate of 4.25% over the same period.
Future trends to watch for include:
- Adoption of premium and specialized pet foods driven by changing consumer preferences.
- Increased focus on sustainability and eco-friendly products.
- Impact of regulatory changes and economic conditions on consumer spending.
- Technological advancements in pet food production and packaging.
