Pet Food - Armenia

Armenia

Revenue in the Pet Food market amounts to €29.48m in 2024. The market is expected to grow annually by 8.39% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€54,820m in 2024).
In relation to total population figures, per person revenues of €10.61 are generated in 2024.
In the Pet Food market, volume is expected to amount to 28.69m kg by 2029. The Pet Food market is expected to show a volume growth of 5.2% in 2025.
The average volume per person in the Pet Food market is expected to amount to 8.2kg in 2024.

Key regions: Russia, Spain, Philippines, United Kingdom, India

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Región

Comparación de regiones

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Analyst Opinion

The Pet Food Market in Armenia is seeing minimal growth, influenced by factors such as low consumer awareness, limited access to digital technologies, and traditional pet feeding habits. Despite these challenges, online sales of pet food are increasing, driven by convenience and higher quality options.

Customer preferences: As pet ownership continues to rise in Armenia, there has been a noticeable shift in consumer preferences towards premium and natural pet food products. This trend is driven by a growing awareness of the importance of a healthy diet for pets, as well as a desire to provide them with the best possible care. Additionally, there has been a rise in demand for online pet food delivery services, allowing for a more convenient and efficient way to purchase pet food. This trend is further accelerated by the increasing number of pet owners who are busy with work and seek convenient options for their pet's nutrition.

Trends in the market: In Armenia, there is a growing trend in the Pet Food Market towards natural and organic pet food products, as consumers become more health-conscious and seek higher quality options for their furry companions. This trend is expected to continue as consumers prioritize the well-being of their pets and are willing to pay a premium for healthier options. This shift towards natural and organic products is also driven by the growing awareness of the negative impact of artificial ingredients and preservatives on pets' health. This trend presents opportunities for industry stakeholders to differentiate their products and cater to the growing demand for healthier pet food options. However, it also poses challenges for smaller players who may struggle to keep up with the higher costs associated with producing natural and organic pet food.

Local special circumstances: In Armenia, the Pet Food Market is influenced by the country's rich agricultural heritage and the high demand for locally sourced, natural ingredients. This has led to a strong emphasis on organic and sustainable pet food options, catering to the growing trend of pet owners seeking healthier options for their furry companions. Additionally, the pet food market in Armenia is heavily influenced by cultural preferences, with traditional recipes and ingredients often incorporated into pet food products. These unique factors contribute to a highly competitive market, with a wide range of locally produced pet food offerings.

Underlying macroeconomic factors: The Pet Food Market in Armenia is influenced by macroeconomic factors such as the country's economic stability and growth, as well as its fiscal policies and investments in the food industry. As a developing economy, Armenia has been experiencing steady economic growth, leading to an increase in consumer purchasing power and demand for high-quality pet food products. Additionally, the country's supportive regulatory environment for the food industry and investments in food production and infrastructure also contribute to the growth of the Pet Food Market in Armenia. Furthermore, the rising trend of pet ownership in the country, coupled with the increasing importance of pet health and wellness, is expected to further drive the demand for premium pet food products in Armenia.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.