EU-member states spend an annual €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 für 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 €10 billion (US$13.22 billion) on spending annually for dogs and cats, while spending €1 billion (US$1.322 billion) is spent on fish, small animals and birds, according to IFH Retail Consultants.