The prepared pet food market in Sweden experienced a declining trend from 2013 to 2016, reaching 74.1 million euros in 2016. Between 2017 and 2019, the market showed slight fluctuations and a modest recovery, followed by a significant growth of 11.44% in 2020. The market value stabilized around 85.7 million euros from 2020 onwards, reaching 86.0 million euros in 2023. The compound annual growth rate (CAGR) over the last five years was 2.72%. Moving forward, the market is forecasted to maintain a marginal growth rate with an estimated value of 86.2 million euros by 2028, reflecting a forecasted five-year CAGR of 0.02%.
Future trends to watch for:
- Innovation in premium pet food offerings
- Increasing demand for organic and natural products
- Growth in e-commerce and direct-to-consumer sales channels
- Impact of economic conditions on consumer spending
- Potential regulatory changes affecting product formulations and labeling
