According to the latest data, Italians are deepening their awareness of the correct feeding of their pets: there are nearly 20 million pet dogs and cats in Italy, and 65 million pets live in people's homes, together with pet categories such as rabbits, birds, fish and turtles. At the same time, pet food sales are growing steadily.
According to the latest report released by the Italian Association of Pet Breeding and Care, in 2023, the sales of pet food in the Italian market will exceed 3 billion euros. Like most consumer goods, the dog and cat food market was also affected by inflation, with turnover increasing by 13.4% to 673,000 tons, which remained stable compared to the previous year.
Specifically, feline-related products accounted for 55.3% of the total market value, with a turnover of just over 1,663 million euros. Wet pet food remains one of the most important segments, with a market capitalization of around 1.467 billion euros, accounting for 54.4% of the total market, with turnover up 13.4% and volume up 1.1%. On the other hand, the turnover of the dry food market reached 1.227 billion euros, an increase of 13.4%.
Giorgio Massoni, President of the Italian Association of Pet Husbandry and Care, commented: "In 2023, the data shows that the pet food market is a dynamic one. ”
In addition, according to estimates by market research firm Euromonitor, there are nearly 30 million pet fish, nearly 13 million pet birds, and more than 3 million pets of small mammals and reptiles in Italy. In 2023, the market value of these pet foods increased by 5.8%, with the turnover of large retailers reaching 14 million euros. Among them, bird food accounts for nearly 45% of the total market value, followed by rodent food with 34% of the total market value.
In 2023, the market for pet hygiene products, toys, and accessories (dog leashes, kennels, dog bowls, dog cages, bird cages, aquariums, turtle tanks, and various utensils) also showed positive trends. In the large retail channel, the segment was valued at 85 million euros and turnover increased by 6%. The major drivers driving the growth of this market are the hygiene products segment, such as sanitary pads, wipes, shampoos, brushes, deodorants, care and beauty products, and others, which account for more than 51%. In addition, cat litter is the most important non-food product in the large retail channel, and the market value will reach 100 million euros in 2023, an increase of 14%.
2023 was a challenging year for Italian FMCG, with the main factor being inflation, which weakened the purchasing power of Italian households, according to the survey. The energy crisis and ongoing regional conflicts have also contributed to a general increase in FMCG prices. The current economic situation means that many families have to keep a close eye on their daily expenses. In the case of pet products, the 22% VAT rate places a "heavy burden" on households, which is usually for non-essential products and services, leading to an increase in spending on pet food and veterinary treatments. Therefore, the request to reduce the VAT rate to 10% has been unanimously supported by animal welfare and consumer associations, major veterinary associations and industry. This is also in line with European legislation, which lists animal food as one of the foods subject to the subsidized rate.
(The content is from the European Times, compilation: Li Shuo, picture source: Pixabay, please indicate)