Pet Owners Spent More Than €182bn Worldwide Last Year

By: Trademagazin editor Date: 2024. 05. 08. 09:53

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, 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).

About Interzoo

Interzoo’s 2024 edition features 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.

ESM