Europe Pet Insurance Market Research Report - By Policy Type, Policy and Country (United Kingdom, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029)

Updated On: January, 2024
ID: 7907
Pages: 145

Europe Pet Insurance Market Size (2024 to 2029)

The size of the Europe pet insurance market was worth USD 936.24 million in 2024. The European market is expected to grow at a CAGR of 12.8% from 2024 to 2029 and be worth USD 1928 million by 2029 from USD 1056 million in 2024

Pet Population in Europe


Numbers in Europe (millions, 2022)







Small Mammal





Y-o-Y growth in the rate of pet adoption across the European region is majorly propelling the growth of the Europe pet insurance market.

The rising adoption of preventative care, growing emphasis on veterinary healthcare by the governments of European countries, and increasing prevalence of animal diseases are contributing significantly to the European pet insurance market. For instance, to save animals from infectious diseases, the European Parliament and the Council brought a regulation on infectious animal diseases that came into effect on 21 April 2021. Also, the Department for Agriculture, Food and the Marine of Ireland announced the Animal Health Surveillance Strategy (2023-2028). In addition, the growing rate of pet adoption across Europe is boosting the growth rate of the European market. Compared to the previous decade, pets have been preferred more as companions in the present generation and this has resulted in a sharp rise in the adoption of pets registered across Europe and favouring the Europe pet insurance market.

The growing costs of veterinary healthcare, including surgeries, medications, and treatments for illnesses and injuries, are propelling the European pet insurance market.

Pet owners in Europe have been showing increased interest in seeking financial protection against unexpected expenses related to their pets' health. An increase in the per capita spending on pet care in Europe is further driving the Europe pet insurance market growth. Pet owners in Europe bought 10.5 million tonnes of pet food products from 150 pet food companies that employed 118,000 people and ran 200 facilities. Furthermore, Gen Z is three times more likely to be interested in pet insurance and as they get older, the pet insurance market is predicted to expand rapidly. Technological advancements are playing a key role in boosting the adoption of pet insurance by offering features such as data enrichment, which is expected to promote regional market growth.

Lack of awareness about the benefits and coverage options of pet insurance among European pet owners is the biggest restraint to the pet insurance market growth in Europe.

Poor awareness of the availability of customized insurance policies in remote areas is further limiting the growth rate of the European market. Lengthy and complex claims processes, limited availability of pet insurance options for older pets or those with pre-existing conditions and low reimbursement rates for veterinary fees are further inhibiting the regional market growth.

This research report on the Europe pet insurance market has been segmented and sub-segmented into the following categories.

Europe Pet Insurance Market Analysis By Policy

  • Cat Insurance
  • Dog Insurance
  • Horse Insurance
  • Rabbit Insurance
  • Exotic Pet Insurance 
  • Others

Based on policy, the dog insurance segment led the market in 2023 and is expected to hold the leading position in the European market throughout the forecast period. In Europe, dogs are among the most favored and extensively owned pets. The growing focus of dog owners regarding their pet’s health and well-being and the increasing interest of dog owners to seek financial protection against veterinary expenses are majorly driving the expansion of the dog insurance segment. The availability of advanced veterinary treatments for dogs and the expansion of coverage options to include hereditary and congenital conditions, behavioral therapy and alternative therapies across the European region are boosting the growth of the dog insurance segment in the Europe pet insurance market. France and Sweden are emerging key markets for dog insurance in Europe and are showing double-digit growth rates in policy sales observed annually.

The cat insurance segment was the second largest segment in the Europe pet insurance market in 2023 and is anticipated to grow at a prominent CAGR during the forecast period. The growth of the cat insurance segment is majorly attributed to the growing adoption of cats as pets and the rising availability of specialized veterinary services for cats. The United Kingdom and Germany are the leading markets for cat insurance in Europe and hold around 50% of the European cat insurance market share together.

Europe Pet Insurance Market Analysis By Policy Type

  • Lifetime Cover
    • Accidental Cover
    • Illness Cover
  • Non-lifetime Cover
    • Accidental Cover
    • Illness Cover

The Lifetime cover segment is gaining traction over the market shares. The average lifetime cost of raising a dog is more than $27,000; due to the high expense of pet ownership, the demand for pet insurance has grown in recent years. Non-lifetime policies may be preferred by pet owners for affordable options, particularly those opting for coverage for acute or transient medical issues over chronic or long-term illnesses. Therefore, high cost is boosting the demand for the lifetime insurance segment.

Europe Pet Insurance Market Analysis By Region

  • United Kingdom
  • France
  • Spain
  • Germany
  • Italy
  • Russia
  • Sweden
  • Denmark
  • Switzerland
  • Netherlands
  • Rest of Europe

The UK held the major share of the Europe pet insurance market in 2023.

The UK market is also anticipated to hold the leading position throughout the forecast period due to the high premium and cost of veterinary care. The UK's pet market is largely unexplored, with 70% of dogs and more than 80% of cats lacking health insurance. The UK has a high pet ownership rate and a mature insurance industry, which are offering high growth potential for the market participants to tap the UK market. For instance, according to the statistics of the Pet Food Manufacturers Association (PFMA), an estimated 12 million households in the UK own pets.

The German market accounted for a substantial share of the European market in 2023.

The German market is also expected to witness a prominent CAGR during the forecast period due to encouraging laws and regulations towards pets. The presence of a large pet population and increasing awareness of the benefits of pet insurance in Germany are majorly propelling the German pet insurance market. An increase in the interest among pet owners in taking insurance coverage for their pets against veterinary expenses has been noticed, and this trend is likely to accelerate during the forecast period and boost the German market growth. For instance, as per the data published by Gesamtverband der Deutschen Versicherungswirtschaft, an expected 20% of dogs and 10% of cats in Germany are insured and this highlights the growing interest of pet owners in opting for pet insurance and the market potential for pet insurance providers in Germany.

Sweden is a key regional segment in Europe for pet insurance.

The Sweden pet insurance market is predicted to hold a considerable share of the European market during the forecast period. Sweden has a strong culture of pet ownership. Pet owners in Sweden have been prioritizing comprehensive healthcare for their pets, which is resulting in the increasing adoption of pet insurance policies. Agria, which is one of the largest pet insurance companies in Sweden, says an estimated 90% of dogs, 60% of horses, and 50% of cats in Sweden are insured.

France is likely to witness a healthy CAGR during the forecast period owing to the growing pet ownership and increasing awareness of needs of pet healthcare among the pet owners.

Spain is anticipated to expand further in the coming years due to the latest progress in the schemes and initiatives for pet insurance and services. As of now, the spending on pets' health has exceeded the expenditure on children.

Italy is anticipated to grow at a notable CAGR during the forecast period due to the growing adoption of pets in the country. Over 22% growth in online searches for pet insurance was noticed in January 2023, according to a recent survey report. 


Petplan Pet Insurance, Embrace Pet Insurance Agency, Royal & Sun Alliance (RSA), Pethealth Inc., Agria Pet Insurance, Petfirst Healthcare, Nationwide Pet Insurance, PetSure Pty Ltd., Petsecure Pet Health Insurance and Hartville Group are some of the notable companies in the Europe pet insurance market.


  • In October 2023, A real-time pet insurance service was announced by the CRIF in the United Kingdom with aggressive prices and faster claim settlements.

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