The sold production of prepared pet foods in Belgium showcased significant growth from 2013 to 2023, increasing from 82.732 million euros to 239.29 million euros, representing a value increase of approximately 189%. The market experienced notable year-on-year variations, with the highest being a 31.86% increase in 2015 and consistent double-digit growth in years like 2018 (22.81%) and 2022 (10%). The CAGR (Compound Annual Growth Rate) over the last five years up to 2023 stands at a robust 9.25%, reflecting continuous market expansion.
Looking forward, the market's forecast from 2024 suggests a more moderate but steady growth, with an average annual increase of 4.6% and an overall growth rate of 25.21% up to 2028. This projected growth will take the market value to approximately 320.32 million euros by 2028.
Future trends to watch for:
- Innovation in pet food, particularly in premium and specialized segments
- Increased demand for sustainable and natural products
- Growth in online sales channels and direct-to-consumer models
- Regulatory changes affecting product formulations and labeling
- Impact of economic conditions on consumer spending patterns for pet care
