PUBLISHER: Grand View Research | PRODUCT CODE: 1750806
PUBLISHER: Grand View Research | PRODUCT CODE: 1750806
Germany Pet Insurance Market Size, Share & Trends Analysis Report By Coverage Type (Accident & Illness, Accident Only), By Animal Type (Dogs, Cats), By Sales Channel (Agency, Broker, Direct, Bancassurance), And Segment Forecasts, 2025 - 2030
Germany Pet Insurance Market Growth & Trends:
The Germany pet insurance market size is estimated to reach USD 2.74 billion by 2030, registering a CAGR of 15.4% from 2025 to 2030, according to a new report by Grand View Research, Inc. The key factors driving the growth include increasing pet ownership rates, rising awareness about benefits of pet insurance, and growing costs of veterinary care. According to the European Pet Food Industry Federation (FEDIAF) pet population in Germany in 2022 was reported to be 34.4 million, consisting of 15.2 million cats, 10.6 million dogs, 4.9 million small animals, and an unspecified number of ornamental birds. As the number of pets in households increases, so does the demand for pet insurance to cover veterinary expenses. Variety of policies available in the market caters to the different requirements of pet owners. As veterinary expenses continue to increase, pet insurance has become a crucial investment for numerous individuals and families in Germany.
The competitive landscape of the pet insurance market in Germany encourages insurers to innovate and differentiate their products and services. This competition drives the development of new features, benefits, and pricing strategies, ultimately expanding the market, and attracting more pet owners to purchase insurance. In June 2023, DFV Deutsche Familienversicherung AG introduced a new line of pet health insurance products. DFV Deutsche Familienversicherung's new generation of pet health insurance products brings innovation to the market, potentially setting new standards for coverage and benefits. The company's sustained successful growth and introduction of new products may lead to increased competition in the German pet insurance market as other insurers strive to match or surpass DFV's offerings.
The pet insurance market in Germany is competitive, with several established players competing for market share. The competition often leads to innovation, improved coverage options, and better customer service, benefiting pet owners by providing a range of choices to suit their needs and preferences. Companies are expanding their reach by acquiring small companies with existing operations or customer bases in Germany. This strategic move enables them to enter new markets, enhance revenue diversification, and leverage growth prospects beyond their primary markets. For example, in September 2022, Trupanion's acquired Smart Paws, a pet insurance company experiencing rapid growth in both Germany and Switzerland. This acquisition marks company's expansion into Europe. This acquisition allows Trupanion to tap into the European market, diversify its revenue streams, and capitalize on growth opportunities in the market.
Germany Pet Insurance Market Report Highlights:
- By coverage type, the accident & illness segment dominated with a revenue share of about 81.74% in 2024 and is anticipated to grow at fastest CAGR of 16.60% over the forecast period
- By animal type, the dogs segment held the largest market share of 49.57% in 2024. The others segment, which includes small mammals, horses, reptiles, and birds, is projected to grow at the fastest CAGR from 2024 to 2030.
- By sales channel, the direct sales segment held the highest revenue share of 35.23% in 2024. The others sale channel segment is estimated to grow at the fastest CAGR over the forecast period.
- The rising number of pet adoptions is a major factor driving the market growth. Additionally, the growing awareness and concern among pet owners about their pets' health, leading to an increased demand for pet insurance.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.2.1. Information Procurement
- 1.3. Information or Data Analysis
- 1.4. General Methodology
- 1.5. Research Scope & Assumptions
- 1.6. Market Formulation & Validation
- 1.7. Model Details
- 1.7.1. Commodity Flow Analysis
- 1.7.2. Bottom-Up & Hybrid Model
- 1.7.3. CAGR Calculation
- 1.8. List of Secondary Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Related/Ancillary Market Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Market Opportunity Analysis
- 3.2.4. Market Challenge Analysis
- 3.3. Industry Analysis
- 3.3.1. Porter's
- 3.3.2. PESTEL Analysis
- 3.4. Estimated Pet Population, 2018 - 2024, by Key Species
- 3.5. Estimated Pet Insurance Average Annual Premium (USD), by Key Species (2024)
- 3.6. Estimated Pet Insurance Penetration Rate, by Key Species (2024)
- 3.7. Case Study Analysis
Chapter 4. Germany Pet Insurance Market: Coverage Type Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Germany Pet Insurance Market: Coverage Type Movement Analysis, 2024 & 2030 (USD Million)
- 4.3. Accident & Illness
- 4.3.1. Accident & Illness Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Accident Only
- 4.4.1. Accident Only Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Others
- 4.5.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Germany Pet Insurance Market: Animal Type Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Germany Pet Insurance Market: Animal Type Movement Analysis, 2024 & 2030 (USD Million)
- 5.3. Dogs
- 5.3.1. Dogs Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Cats
- 5.4.1. Cats Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.5. Other Animal Type
- 5.5.1. Other Animal Type Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Germany Pet Insurance Market: Sales Channel Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Germany Pet Insurance Market: Sales Channel Movement Analysis, 2024 & 2030 (USD Million)
- 6.3. Agency
- 6.3.1. Agency Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. Broker
- 6.4.1. Broker Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Bancassurance
- 6.5.1. Bancassurance Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6. Others
- 6.6.1. Others Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Market Participant Categorization
- 7.2. Company Market Position Analysis/ Heap Map Analysis
- 7.3. Estimated Company Market Share Analysis, 2024
- 7.4. Strategy Mapping
- 7.4.1. Product/Service Launch
- 7.4.2. Expansion
- 7.4.3. Mergers & Acquisitions
- 7.4.4. Partnerships & Collaborations
- 7.4.5. Others
- 7.5. Company Profiles
- 7.5.1. Trupanion, Inc.
- 7.5.1.1. Participant's Overview
- 7.5.1.2. Financial Performance
- 7.5.1.3. Product Benchmarking
- 7.5.1.4. Strategic Initiatives
- 7.5.2. Deutsche Familienversicherung AG (DFV)
- 7.5.2.1. Participant's Overview
- 7.5.2.2. Financial Performance
- 7.5.2.3. Product Benchmarking
- 7.5.2.4. Strategic Initiatives
- 7.5.3. Petplan (Allianz)
- 7.5.3.1. Participant's Overview
- 7.5.3.2. Financial Performance
- 7.5.3.3. Product Benchmarking
- 7.5.3.4. Strategic Initiatives
- 7.5.4. Pinnacle Pet Group
- 7.5.4.1. Participant's Overview
- 7.5.4.2. Financial Performance
- 7.5.4.3. Product Benchmarking
- 7.5.4.4. Strategic Initiatives
- 7.5.5. Figo Pet Insurance, LLC
- 7.5.5.1. Participant's Overview
- 7.5.5.2. Financial Performance
- 7.5.5.3. Product Benchmarking
- 7.5.5.4. Strategic Initiatives
- 7.5.6. Balunos
- 7.5.6.1. Participant's Overview
- 7.5.6.2. Financial Performance
- 7.5.6.3. Product Benchmarking
- 7.5.6.4. Strategic Initiatives
- 7.5.7. Dalma
- 7.5.7.1. Participant's Overview
- 7.5.7.2. Financial Performance
- 7.5.7.3. Product Benchmarking
- 7.5.7.4. Strategic Initiatives
- 7.5.8. Getsafe GmbH
- 7.5.8.1. Participant's Overview
- 7.5.8.2. Financial Performance
- 7.5.8.3. Product Benchmarking
- 7.5.8.4. Strategic Initiatives
- 7.5.9. Popsure Deutschland GmbH (Feather Pet Insurance)
- 7.5.9.1. Participant's Overview
- 7.5.9.2. Financial Performance
- 7.5.9.3. Product Benchmarking
- 7.5.9.4. Strategic Initiatives
- 7.5.10. Helvetia Group
- 7.5.10.1. Participant's Overview
- 7.5.10.2. Financial Performance
- 7.5.10.3. Product Benchmarking
- 7.5.10.4. Strategic Initiatives
- 7.5.1. Trupanion, Inc.
List of Tables
- Table 1 List of Secondary Sources
- Table 2 List Of Abbreviation
- Table 3 Estimated Pet Population, by Key Species, 2018 - 2024
- Table 4 Estimated Pet Insurance Penetration Rate, by Key Species, 2024
- Table 5 Estimated Pet Insurance Average Annual Premium (USD), by Key Species, 2024
- Table 6 Germany Pet Insurance Market, By Animal Type, 2018 - 2030 (USD Million)
- Table 7 Germany Pet Insurance Market, By Coverage Type, 2018 - 2030 (USD Million)
- Table 8 Germany Pet Insurance Market, By Sales Channel, 2018 - 2030 (USD Million)
- Table 9 Company overview
- Table 10 Financial performance
- Table 11 Product benchmarking
- Table 12 Key companies initiating partnership & collaboration
- Table 13 Key companies undergoing initiating mergers & acquisitions
- Table 14 Key companies undergoing product/service launch strategies
- Table 15 Key companies undergoing other strategies
List of Figures
- Fig. 1 Market research process
- Fig. 2 Data triangulation techniques
- Fig. 3 Primary research pattern
- Fig. 4 Primary interviews in Europe
- Fig. 5 Market research approaches
- Fig. 6 Value-chain-based sizing & forecasting
- Fig. 7 QFD modeling for market share assessment
- Fig. 8 Market formulation & validation
- Fig. 9 Germany Pet Insurance Market: Market Outlook
- Fig. 10 Germany Pet Insurance Competitive Insights
- Fig. 11 Parent market outlook
- Fig. 12 Related/ancillary market outlook
- Fig. 13 Germany Pet Insurance Market Driver Impact
- Fig. 14 Germany Pet Insurance Market Restraint Impact
- Fig. 15 Germany Pet Insurance Market Strategic Initiatives Analysis
- Fig. 16 Case Study Analysis
- Fig. 17 Germany Pet Insurance Market: Animal Type Movement Analysis
- Fig. 18 Germany Pet Insurance Market: Animal Type Outlook And Key Takeaways
- Fig. 19 Dogs market estimates and forecast, 2018 - 2030
- Fig. 20 Cats market estimates and forecast, 2018 - 2030
- Fig. 21 Others market estimates and forecast, 2018 - 2030
- Fig. 22 Germany Pet Insurance Market: Coverage Type Movement Analysis
- Fig. 23 Germany Pet Insurance Market: Coverage Type Outlook And Key Takeaways
- Fig. 24 Accident & Illness market estimates and forecast, 2018 - 2030
- Fig. 25 Accident only market estimates and forecast, 2018 - 2030
- Fig. 26 Other market estimates and forecast, 2018 - 2030
- Fig. 27 Germany Pet Insurance Market: Sales Channel Movement Analysis
- Fig. 28 Germany Pet Insurance Market: Sales Channel Outlook And Key Takeaways
- Fig. 29 Agency market estimates and forecast, 2018 - 2030
- Fig. 30 Broker market estimates and forecast, 2018 - 2030
- Fig. 31 Direct market estimates and forecast, 2018 - 2030
- Fig. 32 Bancassurance market estimates and forecast, 2018 - 2030
- Fig. 33 Other market estimates and forecast, 2018 - 2030
- Fig. 34 Key participant categorization
- Fig. 35 Company Market Position Analysis/ Heap Map Analysis
- Fig. 36 Estimated Company Market Share Analysis, 2024
- Fig. 37 Strategy Mapping
