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Hey VentureTaler - It’s Alex!

Welcome to our 10th VentureTale. If you only have 4 minutes and 52 seconds to read, don’t worry it’s enough!

To celebrate our 10th issue, starting tomorrow, you will be granted 14 days of free access to our premium Money Week tier! 🙏 

The Industry

Who hasn’t seen a dog or a cat (I’m more of a dog guy myself 🐶) and be like “ooooohh, hello cutie!”? As you would expect, our four-legged friends have taken over our households and hearts; some would argue that the phenomenon is reaching extremes what it comes to the humanization of pets. A discussion for another day!

Recent official sources do not provide a specific total number of registered dogs and cats in the European Union, however estimations are:

• Dogs: From 72 million to 90 million.

• Cats: From 74 million to 110 million.

The EU is working towards improving traceability and registration through proposed regulations, but there is currently no centralized database providing the exact number of registered pets. The proposed EU regulation aims to ensure that all dogs and cats are microchipped and registered in national databases that are interoperable across the EU, which could provide more accurate registration data in the future

As the size of the pet industry has grown rapidly, digital transformation solutions driven by artificial intelligence, telehealth and personalized pet care are evolving. The global pet insurance market alone, valued at $18.32 billion in 2024, is projected to grow with an average annual rate of 17.97% through 2030. The European market is set to expand from $7.62 billion in 2024 to $17.84 billion by 2030, driven by increasing pet ownership and urbanization.

Countries like the UK, Germany, and Sweden lead in pet insurance adoption. Germany, in particular, is seeing a surge in demand, fueled by rising veterinary expenses and mandatory liability policies in some regions like Berlin & Hamburg.