Germany Pet Insurance Market Size & Outlook, 2023-2030
Germany pet insurance market, 2018-2030 (US$M)
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Germany pet insurance market highlights
- The Germany pet insurance market generated a revenue of USD 719.4 million in 2023 and is expected to reach USD 2,046.5 million by 2030.
- The Germany market is expected to grow at a CAGR of 16.1% 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 719.4 million |
| Market revenue in 2030 | USD 2,046.5 million |
| Growth rate | 16.1% (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, Germany accounted for 6.2% 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 Europe, France pet insurance market is projected to lead the regional market in terms of revenue in 2030.
- Italy is the fastest growing regional market in Europe and is projected to reach USD 984.1 million by 2030.
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Pet Insurance Market Scope
Pet Insurance Market Companies
| Name | Profile | # Employees | HQ | Website |
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Germany 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 81.61% in 2023. Horizon Databook has segmented the Germany pet insurance market based on accident & illness, accident only covering the revenue growth of each sub-segment from 2018 to 2030.
Germany is one of the key pet insurance markets. Growing pet population and expenditure are some of the key factors driving the market. According to FEDIAF estimates, 25% of German households owned at least one dog in 2023, while 26% owned at least one cat. According to a 2020 survey by Coya, an insurance provider for pets in Germany, the country has some of the best cities in the world to own and raise a pet.
Dogs/capita, the number of veterinarians/dogs, the number of pet stores, and dog-friendly hotels, restaurants, & parks were among the infrastructure category characteristics taken into account in the study. The cost, regulation, and ownership category took into consideration variables such as lifetime expenditures, the number of abandoned dogs each year, dog waste fines, and dog waste surveys.
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Our clientele includes a mix of pet insurance market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Germany pet insurance market , including forecasts for subscribers. This country databook contains high-level insights into Germany pet insurance market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Germany pet insurance market size, by coverage type, 2018-2030 (US$M)
Germany Pet Insurance Market Outlook Share, 2023 & 2030 (US$M)
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