Pet insurance company offers customized policies following the people preferences. They focus on the packages as per pet lifetime and per incident. The owner needs to submit a claim to the company regarding the pet's treatment activities, and then the company will reimburse according to the policy.
The Germany pet insurance market is anticipated to experience significant development through the forecast period due to the increasing rate of pet adoption worldwide. Additionally, the growing awareness of people in developing economies of various pet insurance plans will further stimulate Germany market growth.
Furthermore, rising costs of veterinary services are another critical factor driving people to adopt pet insurance to limit these expenses to some extent and increase the market growth. Germany's pet insurance is rising quickly due to strict regulations for the pet owner to pay for any damages caused by their pets. The increasing number of companies entering the pet insurance sector is another crucial factor that supports competition in the market.
34.9 million pets (excluding fish and reptiles) live in households in Germany. 47 percent of all households own at least one pet. The COVID-19 crisis in 2020 and early 2021 has generated rising interest among German households in owning pets because of home seclusion and the shift towards working from home, which has benefitted the dog and cat populations and the other pet population, notably small mammals. Furthermore, 26% of all households having pets are cats, 21% are dogs, etc.
The increasing pet industry in Germany also can be seen from increasing revenue from pet supplies and foods. In 2020, pet food sales generated roughly 3.4 billion euros, an increase compared to the previous year, amounting to around 3.3 billion.
Companies across the world have huge investments in this segment of the market. In Germany, the Pet Insurance market has many companies fragmented over minor shares. GetSafe, Adam Riese, Bavaria Direkt, Helden, DFV, Coya are amongst the Pet Insurance Companies.
Adoption of Pet and technology leads to increased competition amongst the company. Innovation and technological advancement taking a pace as the COVID-19 and urbanization strike general people to the adoption of the new ease in payment and contactless payment gateways for pet insurance.
This product will be delivered within 2 business days.
The Germany pet insurance market is anticipated to experience significant development through the forecast period due to the increasing rate of pet adoption worldwide. Additionally, the growing awareness of people in developing economies of various pet insurance plans will further stimulate Germany market growth.
Furthermore, rising costs of veterinary services are another critical factor driving people to adopt pet insurance to limit these expenses to some extent and increase the market growth. Germany's pet insurance is rising quickly due to strict regulations for the pet owner to pay for any damages caused by their pets. The increasing number of companies entering the pet insurance sector is another crucial factor that supports competition in the market.
Key Market Trends
Pet Adoption
34.9 million pets (excluding fish and reptiles) live in households in Germany. 47 percent of all households own at least one pet. The COVID-19 crisis in 2020 and early 2021 has generated rising interest among German households in owning pets because of home seclusion and the shift towards working from home, which has benefitted the dog and cat populations and the other pet population, notably small mammals. Furthermore, 26% of all households having pets are cats, 21% are dogs, etc.
Revenue from Pet Supplies and Food
The increasing pet industry in Germany also can be seen from increasing revenue from pet supplies and foods. In 2020, pet food sales generated roughly 3.4 billion euros, an increase compared to the previous year, amounting to around 3.3 billion.
Competitive Landscape
Companies across the world have huge investments in this segment of the market. In Germany, the Pet Insurance market has many companies fragmented over minor shares. GetSafe, Adam Riese, Bavaria Direkt, Helden, DFV, Coya are amongst the Pet Insurance Companies.
Adoption of Pet and technology leads to increased competition amongst the company. Innovation and technological advancement taking a pace as the COVID-19 and urbanization strike general people to the adoption of the new ease in payment and contactless payment gateways for pet insurance.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
2 RESEARCH METHODOLOGY
4 MARKET INSIGHTS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- GetSafe
- Adam Riese
- Bavaria Direkt
- Helden
- DFV
- Coya
- PetProtect
- Barmenia*
Methodology
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