A very interesting article has been published on the website of Petfoodindustry, which deals with the pet food market in Eastern Europe. Essentially, the author discussed the following:
Despite a sharp increase in pet food prices during the first half of 2023, the Eastern European pet care market has proven remarkably resilient. In Poland, for instance, average pet food costs surged by 43% in March 2023 compared to the previous year. Concerns about potential impacts on consumer demand during the cost-of-living crisis did not materialize, with market turbulence subsiding in the latter half of 2023.
The pet care market in Eastern Europe saw a 5% increase in value in 2023, with spending per pet rising to an average of EUR$108 (US$118) annually. Notably, the shift toward premium products remains a significant trend, with premium dog and cat food growing by 6% in 2022. Despite some turning to cheaper private label offerings, both economy and premium price segments experienced growth in 2023.
Looking ahead to 2024, the industry is poised for continued growth, with a 4% increase in value and 3% in volume projected. Eastern Europe, particularly led by Poland, has solidified its position as a key exporter in the global pet food market. In 2022, Poland became the world’s fifth-largest pet food exporter, and the opening of the Chinese market in 2023 further enhances export opportunities.
In summary, the Eastern European pet care market has not only weathered rising food prices but has also displayed resilience and potential for growth, making it a notable player in the global pet food industry.
Read the original article here – petfoodindustry.com
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