Since the COVID-19 pandemic, Greece’s pet market has ‘taken off’, becoming a profitably industry attracting major investments and poised for additional growth.
As pets become integral to many households, the Greek pet care industry is rapidly expanding, bringing both cultural changes and significant investment opportunities, in following with the global pet market which is set to grow from $320 billion to $500 billion USD by 2030, according to Bloomberg Intelligence.
Greeks Favorite Pets
A 2022 study from the European Pet Food Industry Association (FEDIAF) reveals that there are more dogs than cats in Greece, with 655,000 dogs compared to 606,000 cats. Approximately 14% of Greek households have at least one dog, and 13% own at least one cat.
In addition to these popular pets, Greece is home to 971,000 European ornamental birds, 90,000 fish, 416,000 small mammals (ie hamsters and rabbits), and around 6,000 exotic pets (turtles, snakes, iguanas, geckos, tarantulas, and scorpions).
While these figures show a significant number of pets in Greek homes, they are still lower than in countries like Portugal and Hungary, where pet ownership reaches 39% and 50%, respectively.
Pet Care Market Growth
The majority of revenue in Greece’s pet industry comes from companion animals—pets that people consider part of their families—rather than those kept mainly for observation. With the rise of pet ownership, even Greek society has evolved, introducing pet-friendly restaurants and stores and even adopting new technologies such as smart collars.
The Greek pet care market is estimated to be worth over €500 million, growing at an annual rate of 5-7%, according to an article at OT.
Related expenses, such as for cages, treats, and pet clothing, have also risen by 15% from September 2022 to September 2024, reflecting the increasing spending on pets.
Meanwhile, the pet food market is expected to reach €287 million this year and grow by 2.42% annually until 2029, says OT, with over 50% of pet food sales come from pet shops and veterinary clinics, 40% from supermarkets, and just 4-5% from online.
Investments in Greece’s Pet Market
Investments in the Greek pet care sector highlight its potential for further growth. OT points out that Four Feet Ventures has invested over €15 million in the last two years to establish a network of clinics for companion animals across Greece. SMERemediumCap, another key player, is working on opening six clinics, hospitals, and a lab. Pet City, a well-known pet shop chain, was acquired by BC Partners, generating €53.67 million in 2023.
With increased investment, expanding ownership, and a growing focus on pets as companions, Greece’s pet market is set for continued growth, making it an attractive sector for future investments, estimates OT.
This is all part of global trends with project that the global market for pets is expected to grow from $320 billion to $500 bilion by 2030 according to bloomberb intelligence.
