Europe Pet Insurance Market To Reach $17.84 Billion By 2030

Europe Pet Insurance Market Growth & Trends

The Europe pet insurance market size is expected to reach USD 17.84 billion by 2030, registering a CAGR of 15.45% from 2025 to 2030, according to a new report by Grand View Research, Inc. The increasing number of pet owners across Europe is a significant driver. According to the European Pet Food Industry Federation (FEDIAF), approximately 80 million European households have pets. With rising disposable incomes, pet owners are willing to invest more in their pets' health, including comprehensive insurance coverage. In an article published in September 2023 by the Pet Food Industry, in 2022, cats were the most popular pets in Europe, accounting for 127 million or 26.0% of all pet households. Dogs followed closely, with 25% of European homes owning a pet dog.

The pet population has been steadily increasing, driven by various factors such as changing demographics, urbanization, and lifestyle trends. As more people adopt pets, the overall pet population is anticipated to expand over the forecast period. This growth in pet ownership directly correlates with increased demand for pet-related products and services, including veterinary care & pet insurance. A larger pet population provides a larger pool of potential customers for pet insurance companies, thereby driving market growth.

Advancements in veterinary medicine have expanded the range of treatment options available for pets, enhancing their health and longevity. However, these advanced treatments come with significant costs, which can burden pet owners. High-tech procedures like MRI scans, chemotherapy, orthopedic surgeries, and ongoing treatments for chronic conditions can be prohibitively expensive. Pet insurance is a crucial financial safety net, enabling owners to afford these cutting-edge treatments without enduring financial strain or making difficult choices about their pets' care. Covering a substantial portion of these costs, pet insurance ensures that pets receive the best medical attention while protecting owners from unexpected financial hardships.

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Europe Pet Insurance Market Report Highlights

• Based on animals, the market is segmented into dogs, cats, and others. In 2024, the dogs segment dominated the market with a substantial share of 50.35% due to the growing pet adoption, expansion of service offerings by insurance companies, and growing disposable income.

• In 2024, the accident and illness segment dominated the European pet insurance market, accounting for over 84.07% of the total share.

• Based on sales channel, the direct channel segment held the largest share of 34.88% in 2024. This can be attributed to the high usage of direct sales strategies by key pet insurance providers.

Europe Pet Insurance Market Segmentation

Grand View Research has segmented Europe pet insurance market report based on animal, coverage, sales channel, and country:

Europe Pet Insurance Animal Outlook (Revenue, USD Million, 2018 - 2030)

• Dogs

• Cats

• Others

Europe Pet Insurance Coverage Outlook (Revenue, USD Million, 2018 - 2030)

• Accident & Illness

• Accident only

• Others

Europe Pet Insurance Sales Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Agency

• Broker

• Direct

• Bancassurance

• Others

Europe Pet Insurance Regional Outlook (Revenue, USD Million, 2018 - 2030)

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

  • Austria

  • Hungary

  • Poland

  • Romania

  • Czech Republic

  • Switzerland

  • Luxembourg

  • Portugal

  • Belgium

  • Rest of Europe

List of Key Players in the Europe Pet Insurance Market

• Trupanion, Inc.

• Deutsche Familienversicherung AG (DFV)

• Petplan (Allianz)

• Getsafe GmbH

• Jab Holding Company

• Direct Line (U K Insurance Limited)

• EQT Group

• Waggel Limited

• ProtectaPet

• Perfect Pet Insurance

• Feather Insurance (Popsure Deutschland GmbH)

• Agria Pet Insurance Ltd