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MARKET OUTLOOK

The Italian pet food market is expected to grow with a CAGR of 2.42% by value over the forecasting period 2022-2026. It is also expected to develop with a CAGR of 1.06% by volume in this period.

The leading factors driving growth in this market include the increase in the importance of pets. In addition, the demand for healthcare products, branded clothing & cosmetic products, and natural or premium products is also on the rise. Statistics suggest that Italian pet owners tend to treat their pets with greater care – for example, they prefer special foods tailored to their pet’s specific nutritional requirements. This has resulted in a higher demand for premium and super-premium pet food.

In fact, the demand for dog and cat food is now more “specialized.” The current trend involves the use of natural and holistic pet food, which is made of either natural or biological ingredients without preservatives or artificial coloring. Numerous pet owners prefer preservative-free snacks & treats and those containing healthy ingredients like fruits & cereals.

However, the increase in the cost of raw materials used for making pet food, particularly in the first four months of 2021, has presented a major challenge for the whole industry. Even at the end of the year, the prices of these materials that provide both animal- and vegetable-origin protein remain at very high prices. This is affecting the market growth.

COMPETITIVE OUTLOOK

The biggest names in the pet food market are Affinity Petcare Inc, Royal Canin, Mars Petcare Inc, and Nestle Purina Petcare Ltd.