The prepared pet food market in Belgium saw significant fluctuations from 2013 to 2023. Starting at €65.2 million in 2013, the market experienced an initial decline before substantial growth phases, notably peaking at €533.8 million in 2023. Highlighting the volatility, the segment recorded a significant year-on-year increase in 2016 (297.77%) but faced a notable drop in 2020 (-20.4%). However, growth momentum was regained with a 10.22% year-on-year growth in 2023. Over the past five years, the market saw an average annual increase of 6.93% CAGR.
Future trends to watch include:
- Continued growth forecasted with an average annual growth rate of 3.75% over the next five years.
- Expected increase of 20.22% in overall market size by 2028, reaching €676.5 million.
- Potential impact of shifting consumer preferences towards premium and specialized pet food products.
- Influence of economic factors such as inflation and changes in disposable income on consumer spending in this segment.
