Pet owners spent €182.7 billion on their pets last year – a 6% increase on the previous year – on a global level, despite the challenging economic climate.
In addition, a growth rate of 4.7% is forecast for 2024, Euromonitor data showed.
The figures were released to coincide with Interzoo (pictured), which got under way in Nuremberg, Germany, on 7 May and runs until Friday (10 May).
Other interesting takeaways from the data include that North America is the largest global market for pet supplies, valued at €84.8 billion, while Western Europe accounts for €37.9 billion, and Asia-Pacific €26 billion.
German Market
In Interzoo’s home market of Germany, meanwhile, the pet supply market (in traditional bricks-and-mortar channels) was valued at €5.6 billion last year – a 9.5% increase. Pet food accounted for €4.5 billion, and pet accessories €1.1 billion.
Separately, online sales in Germany accounted for €1.3 billion last year. Some 7% of pet shoppers buy pet food and 11% buy pet accessories exclusively online.
A third only shop in physical stores, which is where specialist retailers can gain a competitive edge, according to Norbert Holthenrich, president of the ZZF (German Pet Trade and Industry Association).
“In specialist pet stores, pet owners can try out products, buy special pet food, and use the many services offered, such as pet-grooming, access to affiliated vets, or aquarium support,” Holthenrich commented.
About Interzoo
Interzoo’s 2024 edition featured more than 2,100 exhibitors from 68 countries, while trade visitors are expected from over 120 countries over the days of the event. Some 86% of the exhibitors hail from outside Germany.
“A distinguishing feature of Interzoo is that so many companies present their new products at the world-leading fair,” commented Dr Rowena Arzt, director of exhibitions at Interzoo organiser WZF GmbH.
“In this way, Interzoo offers trade visitors a unique worldwide opportunity to experience first-hand and in one place a fascinating array of new products and inspiring companies and gain exclusive market insights and sector-specific information.”
