Pet Food - Portugal

Portugal

Revenue in the Pet Food market amounts to €347.30m in 2024. The market is expected to grow annually by 2.35% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€55,400m in 2024).
In relation to total population figures, per person revenues of €33.97 are generated in 2024.
In the Pet Food market, volume is expected to amount to 0.42bn kg by 2029. The Pet Food market is expected to show a volume growth of 0.9% in 2025.
The average volume per person in the Pet Food market is expected to amount to 39.8kg 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 Portugal is facing negligible growth, influenced by factors such as rising competition, shifting consumer preferences, and the impact of the COVID-19 pandemic on purchasing behavior. Despite this, the convenience and health benefits of pet food are still driving some growth in the market.

Customer preferences: With the rise in pet ownership and increasing concern for animal welfare, consumers in Portugal are gravitating towards ethical and sustainable pet food options. This includes a preference for all-natural and organic ingredients, as well as products that are free from artificial additives and preservatives. In addition, there is a growing trend towards personalized and customized pet food, with owners seeking out specialized diets tailored to their pet's specific needs and preferences. This shift reflects a larger cultural shift towards mindful consumption and a desire for transparency in the food industry.

Trends in the market: In Portugal, there is a growing trend in the Pet Food Market towards natural, organic, and sustainable products. With increasing awareness about the health benefits of these products, consumers are willing to pay a premium for them. This trend is expected to continue, with companies investing in research and development to cater to the demand. This could have significant implications for industry stakeholders, as they will need to adapt their production processes and marketing strategies to stay competitive in the market. Additionally, this trend could also lead to the emergence of new players in the market, further intensifying competition.

Local special circumstances: In Portugal, the Pet Food Market is heavily influenced by the country's strong cultural connection to domestic animals, with a high percentage of households owning pets. As a result, the demand for premium and organic pet food products is on the rise, driven by the increasing awareness of pet health and wellness. Additionally, the country's strict regulations on animal welfare and food safety standards contribute to the quality and diversity of pet food options available in the market. These factors make Portugal a unique and attractive market for pet food companies.

Underlying macroeconomic factors: The Pet Food Market within The Food market industry in Portugal is largely influenced by macroeconomic factors such as consumer spending habits, economic stability, and government policies. As Portugal's economy continues to grow, the demand for pet food products is also increasing, as consumers have more disposable income to spend on their furry companions. Additionally, favorable government policies and investments in the pet care industry are further driving market growth. With an increasing pet ownership rate and a growing awareness of the importance of pet nutrition, the pet food market in Portugal is expected to see continued growth in the coming years.

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.