Sweden Pet Insurance Market Size & Outlook, 2023-2030
Sweden pet insurance market, 2018-2030 (US$M)
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Sweden pet insurance market highlights
- The Sweden pet insurance market generated a revenue of USD 601.7 million in 2023 and is expected to reach USD 1,488.1 million by 2030.
- The Sweden market is expected to grow at a CAGR of 13.8% 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 601.7 million |
| Market revenue in 2030 | USD 1,488.1 million |
| Growth rate | 13.8% (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, Sweden accounted for 5.2% 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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Sweden 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 84.28% in 2023. Horizon Databook has segmented the Sweden pet insurance market based on accident & illness, accident only covering the revenue growth of each sub-segment from 2018 to 2030.
Pet insurance penetration in Sweden is high as compared with other countries in Europe. High companion animal population and willingness of pet owners to spend on their pets are key factors driving the market. Furthermore, Sweden is the original animal welfare nation with the first animal insurance policy written in 1890, focused on livestock and horses at the time.
Since then, the business of pet insurance has progressively grown in the country. Dogs, like humans, are susceptible to injuries and illnesses that necessitate medical attention. An excellent strategy to lower the expense of high veterinary bills is purchasing dog insurance. Over a million dogs were kept as pets in Sweden in 2021, and 90% had insurance.
Dog insurance is voluntarily purchased by hundreds of thousands of pet owners in Sweden, with annual premiums averaging USD 536. In Sweden, where pet insurance was first offered in 1924, animals have long been seen as members of the family.
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Our clientele includes a mix of pet insurance market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Sweden pet insurance market , including forecasts for subscribers. This country databook contains high-level insights into Sweden pet insurance market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Sweden pet insurance market size, by coverage type, 2018-2030 (US$M)
Sweden Pet Insurance Market Outlook Share, 2023 & 2030 (US$M)
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