Pet Food - Bulgaria

Bulgaria

Revenue in the Pet Food market amounts to €91.81m in 2024. The market is expected to grow annually by 3.44% (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 €13.87 are generated in 2024.
In the Pet Food market, volume is expected to amount to 104.50m kg by 2029. The Pet Food market is expected to show a volume growth of 2.5% in 2025.
The average volume per person in the Pet Food market is expected to amount to 14.5kg 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 Bulgaria is facing negligible growth, influenced by factors such as low consumer spending on pet products and limited availability of premium pet food options. Despite this, the market is expected to experience steady growth due to the increasing trend of pet ownership and rising disposable income. The convenience and health benefits offered by online pet food services are also driving market growth.

Customer preferences: In Bulgaria, the Pet Food Market within The Food market is experiencing a rise in demand for premium and natural pet food products. This trend is driven by a growing awareness among pet owners about the importance of nutrition for their furry companions. Additionally, with the increasing number of pet adoptions and ownership among younger generations, there is a shift towards more personalized and specialized pet food options. This is also reflected in the rise of online pet food delivery services, providing convenience and a wider variety of choices for pet owners.

Trends in the market: In Bulgaria, the Pet Food Market within The Food market is experiencing a shift towards natural and organic pet food products. This trend is driven by increasing consumer demand for healthier and more sustainable options for their pets. In addition, there is a growing interest in personalized and customized pet diets, with companies offering tailored nutrition plans and specialized diets for specific health conditions. This trend is expected to continue, with potential implications for industry stakeholders such as pet food manufacturers and retailers, who may need to adapt their offerings and marketing strategies to meet these changing consumer preferences.

Local special circumstances: In Bulgaria, the Pet Food Market is heavily influenced by the country's strong agricultural sector and its traditional farming practices. This results in a high demand for locally sourced and organic pet food products. Additionally, the country's strict regulations for pet food production ensure high quality and safety standards. These unique factors contribute to the market's overall growth and popularity, setting it apart from other markets within The Food market industry.

Underlying macroeconomic factors: The Pet Food Market within The Food market in Bulgaria is influenced by macroeconomic factors such as national economic health and fiscal policies. The country's stable economic growth and favorable fiscal policies have led to an increase in disposable income, which has contributed to the growth of the pet food market. Additionally, the rising trend of pet humanization and increasing pet ownership rates in the country have also boosted the demand for premium and specialized pet food products. Furthermore, the growing awareness of the health benefits of pet food and the increasing focus on pet nutrition have also played a significant role in driving market growth.

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.