Large potential for the Nordic markets
The common narrative about Nordic markets being fundamentally impacted by humanization is relevant. But there is also a surprisingly
large potential for growing volume.
Pet food
The relationship between the retail volume of pet food has a strong linear correlation to disposable income, according to a recent analysis of markets in North America, Europe and Australasia made by Euromonitor International. By excluding culturally distinct regions like Asia, Middle East, Africa and South America, we found an approximation that could predict how high a market’s demand for pet food per capita should be by looking at the disposable income per capita.
The analysis shows that the Nordic retail volumes of pet food are below the expected demand, using only disposable income per capita as the explanation. This indicates an opportunity to drive pet population.