Between 2013 and 2023, the UK market for prepared pet foods experienced periods of growth and contraction. From 2013 to 2015, there was a strong upward trend, with a peak year-on-year growth of 16.28% in 2015. However, the market then fluctuated, showing noticeable declines in 2016, 2017, and 2018, with the sharpest drop of 13.73% in 2018. A recovery followed, with slight increases in 2019 and 2020, subdued by minor growth in 2021 and 2022, and a stabilization at 2.0278 billion Euros in 2023. The CAGR over the last five years (2019-2023) stood at 1.5%.
For the years ahead (2024-2028), the market is projected to grow moderately. The forecast indicates incremental annual increases in sold production, with a 5-year forecasted CAGR of 0.17%, leading to an anticipated value of 2.0496 billion Euros by 2028.
Future trends to watch for include:
- Innovations in premium and organic pet foods
- Increased consumer focus on pet health and nutrition
- Expansion of e-commerce channels for pet food distribution
- Potential impacts of regulatory changes and economic conditions
