EU-member states spend an annual â‚¬25 billion (US$33.05 billion) on pet necessities such as petfood, according to a study conducted by IFH Retail Consultants, a subsidiary of the Institut fÃ¼r Handelsforschung.
Nearly three-quarters of the total European pet owner expenditure goes to petfood, with the amount spent on pet accessories and pet care products much less in contrast, the report found. Dogs and cats dominate the European pet sector, with more than â‚¬10 billion (US$13.22 billion) on spending annually for dogs and cats, while spending â‚¬1 billion (US$1.322 billion) is spent on fish, small animals and birds, according to IFH Retail Consultants.
New shelter data casts doubt on whether the pet population and pet ownership are truly growing.
While the pandemic caused unprecedented suffering worldwide in 2020, the disruptions to dogs, cats and other pets adoption numbers may normalize in 2021.