The sold production of prepared pet foods in Finland has shown a fluctuating trend over the past decade. Between 2013 and 2018, the market experienced declines and moderate growth, with notable peaks and troughs. A significant surge occurred in 2019, with a 60.09% year-on-year increase, followed by a sharp decline in 2020. In recent years, the market recovered, reaching 11.89 million kilograms in 2023, reflecting a 9.21% year-on-year growth. The Compound Annual Growth Rate (CAGR) for the period from 2019 to 2023 is 7.85%.
Forecasts suggest a steady upward trend from 2024 onwards, with an expected CAGR of 2.06% over the next five years, reaching 13.536 million kilograms by 2028. This indicates a positive long-term outlook with a forecasted 10.72% growth rate over the same period.
Future trends to watch for include advancements in pet nutrition, the impact of economic conditions on pet ownership, and the increasing demand for premium and specialized pet foods, which may drive market growth further.
