Australia Pet Insurance Market Size & Outlook, 2023-2030
Australia pet insurance market, 2018-2030 (US$M)
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Australia pet insurance market highlights
- The Australia pet insurance market generated a revenue of USD 239.8 million in 2023 and is expected to reach USD 814.4 million by 2030.
- The Australia market is expected to grow at a CAGR of 19.1% from 2024 to 2030.
- In terms of segment, accident & illness was the largest revenue generating coverage type in 2023.
- Accident & Illness is the most lucrative coverage type segment registering the fastest growth during the forecast period.
Pet insurance market data book summary
| Market revenue in 2023 | USD 239.8 million |
| Market revenue in 2030 | USD 814.4 million |
| Growth rate | 19.1% (CAGR from 2023 to 2030) |
| Largest segment | Accident & illness |
| Fastest growing segment | Accident & Illness |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Accident & Illness, Accident only |
| Key market players worldwide | Trupanion Inc, Allianz SE, Direct Line Insurance Group PLC, MetLife Inc, Deutsche Familienversicherung, Anicom, Animal Friends Insurance, Figo Pet Insurance, Nationwide Mutual Insurance, Embrace Pet Insurance, Ipet Insurance, Pumpkin Insurance Services |
Other key industry trends
- In terms of revenue, Australia accounted for 2.1% of the global pet insurance market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan pet insurance market is projected to lead the regional market in terms of revenue in 2030.
- Thailand is the fastest growing regional market in Asia Pacific and is projected to reach USD 19.2 million by 2030.
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Pet Insurance Market Scope
Pet Insurance Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Australia pet insurance market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to pet insurance market will help companies and investors design strategic landscapes.
Accident & illness was the largest segment with a revenue share of 85.07% in 2023. Horizon Databook has segmented the Australia pet insurance market based on accident & illness, accident only covering the revenue growth of each sub-segment from 2018 to 2030.
Australia held a substantial share of Asia Pacific pet insurance market. An increase in awareness and high per capita income are the driving forces for the market. According to Pet Circle Insurance, in 2022, thousands of Australian households adopted a pet into their home due to the pandemic, and living expenses were also increasing.
The company provides various insurance products, including insurance for dogs, puppies, kittens, and cats. Trupanion, Petplan Pet Insurance, Bow Wow Meow, Woolworths, and Pet Insurance Australia are some of the local market player.
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Target buyers of Australia pet insurance market databook
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Our clientele includes a mix of pet insurance market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Australia pet insurance market , including forecasts for subscribers. This country databook contains high-level insights into Australia pet insurance market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia pet insurance market size, by coverage type, 2018-2030 (US$M)
Australia Pet Insurance Market Outlook Share, 2023 & 2030 (US$M)
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