Analysis of the sold production of dog or cat food in Finland in terms of value (in Million Euros) shows a variable yet upward trend between 2013 and 2023. In 2023, the sold production stood at 23.517 Million Euros. Specifically, the year-on-year variation for the last two years was significant, with a 26.52% increase in 2022 and a 17.56% increase in 2023. The Compound Annual Growth Rate (CAGR) over the last five years averaged at 8.56%, underlying notable growth.
From 2024 onwards, predicted data points towards continued growth with a 5-year forecasted CAGR of 3.45%, and an overall escalation of 18.47% by 2028. These projections reflect consistent positive momentum.
Future trends to watch for include:
- Advancements in pet nutrition and specialized diet products.
- Increasing consumer spending on premium pet food brands.
- The growth of online retail platforms boosting market accessibility.
- Potential regulation changes affecting production standards and costs.
