Europe Pet Insurance Market
Description
Europe Pet Insurance Market Size, Share & Trends Analysis Report By Animal (Dogs, Cats), By Coverage (Accidents & Illness), By Sales Channel (Agency, Broker, Direct, Bancassurance), By Country, And Segment Forecasts, 2026 - 2033
Europe Pet Insurance Market Summary
The Europe pet insurance market size was estimated at USD 8.7 billion in 2025 and is projected to reach USD 25.9 billion by 2033, growing at a CAGR of 14.7% from 2026 to 2033. This growth is primarily fueled by increasing pet humanization, driving demand for advanced veterinary coverage, a surge in venture funding accelerating insurtech expansion across European markets, rising veterinary costs augmenting insurance uptake, and growing pet ownership rates broadening the insurable population base.
One of the most crucial drivers in the market is the accelerating volume of venture capital directed toward European pet InsurTech firms, which has materially expanded the geographic footprint and product sophistication of the sector. Institutional investors have demonstrated sustained conviction in the growth trajectory of pet insurance, deploying capital at scale across multiple funding rounds and geographies. This capital concentration has produced a cohort of well-funded operators with the balance sheet capacity to pursue multi-market expansion strategies.
For instance, in February 2026, Lassie, the Swedish InsurTech, secured USD 75 million in Series C funding at a valuation of USD 400 million with proceeds directed toward European expansion and AI-driven claims processing. Following strong performance in Sweden and Germany, Lassie extended its operational footprint into France, adding a third major European market to its distribution network. Furthermore, in June 2025, Bought By Many (ManyPets) secured USD 350 million in a funding round to meet global pet insurance demand and advance international expansion, signaling that investor focus extends beyond early-stage bets into growth-stage consolidation. Besides, Dalma, in March 2025, raised EUR 20 million (~ USD 23 million) to construct a vertically integrated pet care superapp, positioning insurance as one component within a broader pet ownership value chain.
The sustained inflow of venture capital into European pet InsurTech, evidenced by successive large-scale funding rounds and cross-border market entries, establishes institutional investment as a primary growth accelerant across the region. Funding activity has remained continuous across multiple years, with capital directed toward market entry, product development, and geographic scaling in successive waves. This multi-year investment pattern confirms that institutional confidence in European pet insurance has not been episodic but structural, sustaining operator expansion well beyond initial launch phases.
Europe Pet Insurance Market Report Segmentation
This report forecasts revenue growth at country level and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the Europe pet insurance market report based on animal, coverage, sales channel, and country:
Europe Pet Insurance Market Summary
The Europe pet insurance market size was estimated at USD 8.7 billion in 2025 and is projected to reach USD 25.9 billion by 2033, growing at a CAGR of 14.7% from 2026 to 2033. This growth is primarily fueled by increasing pet humanization, driving demand for advanced veterinary coverage, a surge in venture funding accelerating insurtech expansion across European markets, rising veterinary costs augmenting insurance uptake, and growing pet ownership rates broadening the insurable population base.
One of the most crucial drivers in the market is the accelerating volume of venture capital directed toward European pet InsurTech firms, which has materially expanded the geographic footprint and product sophistication of the sector. Institutional investors have demonstrated sustained conviction in the growth trajectory of pet insurance, deploying capital at scale across multiple funding rounds and geographies. This capital concentration has produced a cohort of well-funded operators with the balance sheet capacity to pursue multi-market expansion strategies.
For instance, in February 2026, Lassie, the Swedish InsurTech, secured USD 75 million in Series C funding at a valuation of USD 400 million with proceeds directed toward European expansion and AI-driven claims processing. Following strong performance in Sweden and Germany, Lassie extended its operational footprint into France, adding a third major European market to its distribution network. Furthermore, in June 2025, Bought By Many (ManyPets) secured USD 350 million in a funding round to meet global pet insurance demand and advance international expansion, signaling that investor focus extends beyond early-stage bets into growth-stage consolidation. Besides, Dalma, in March 2025, raised EUR 20 million (~ USD 23 million) to construct a vertically integrated pet care superapp, positioning insurance as one component within a broader pet ownership value chain.
The sustained inflow of venture capital into European pet InsurTech, evidenced by successive large-scale funding rounds and cross-border market entries, establishes institutional investment as a primary growth accelerant across the region. Funding activity has remained continuous across multiple years, with capital directed toward market entry, product development, and geographic scaling in successive waves. This multi-year investment pattern confirms that institutional confidence in European pet insurance has not been episodic but structural, sustaining operator expansion well beyond initial launch phases.
Europe Pet Insurance Market Report Segmentation
This report forecasts revenue growth at country level and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the Europe pet insurance market report based on animal, coverage, sales channel, and country:
- Animal Outlook (Revenue, USD Million, 2021 - 2033)
- Dogs
- Cats
- Others
- Coverage Outlook (Revenue, USD Million, 2021 - 2033)
- Accident & Illness
- Accident only
- Others
- Sales Channel (Revenue, USD Million, 2021 - 2033)
- Agency
- Broker
- Direct
- Bancassurance
- Others
- Regional Outlook (Revenue, USD Million, 2021 - 2033)
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Austria
- Hungary
- Poland
- Romania
- Czech Republic
- Switzerland
- Luxembourg
- Portugal
- Belgium
- Rest of Europe
Table of Contents
80 Pages
- Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Animal
- 1.2.2. Coverage Type
- 1.2.3. Sales Channel
- 1.3. Estimates and forecasts timeline
- 1.4. Research Methodology
- 1.5. Information Procurement
- 1.5.1. Purchased database
- 1.5.2. GVR’s internal database
- 1.5.3. Secondary sources
- 1.5.4. Primary research
- 1.6. Information or Data Analysis
- 1.6.1. Data analysis models
- 1.7. Market Formulation & Validation
- 1.8. Model Details
- 1.8.1. Model 1 Analysis
- 1.8.2. Model 2 Analysis
- 1.8.3. Model 3 Analysis
- 1.8.4. CAGR Calculation
- 1.9. List of Secondary Sources
- 1.10. List of Primary Sources
- 1.11. Objectives
- Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
- Chapter 3. Europe Pet Insurance 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
- 3.2.1.1. Increasing Pet Humanization Driving Demand for Advanced Veterinary Coverage
- 3.2.1.2. Surge in Venture Funding Accelerating InsurTech Expansion Across European Markets
- 3.2.1.3. Rising Veterinary Costs Augmenting Insurance Uptake
- 3.2.1.4. Growing Pet Ownership Rates Broadening the Insurable Population Base
- 3.2.2. Market restraint analysis
- 3.2.2.1. Premium Inflation Constraining Policyholder Affordability and Retention
- 3.2.2.2. Persistent Underwriting Losses Limiting InsurTech Scalability
- 3.3. Estimated Pet Insurance Penetration Rate, by Animal & Country
- 3.4. Estimated Pet Insurance Premium Analysis, by Animal & Country
- 3.5. Estimated Pet Population, 2021-2025, by Animal & Country
- 3.6. Case Study Analysis
- 3.7. Europe Pet Insurance Market Analysis Tools
- 3.7.1. Porter’s Five Forces Analysis
- 3.7.2. PESTEL Analysis, by SWOT
- Chapter 4. Europe Pet Insurance Market: Animal Estimates & Trend Analysis
- 4.1. Europe Pet Insurance Market: Animal Dashboard
- 4.2. Europe Pet Insurance Market: Animal Movement Analysis
- 4.3. Europe Pet Insurance Market by Animal, Revenue
- 4.4. Dogs
- 4.4.1. Dogs market estimates and forecasts 2021 to 2033 (USD Million)
- 4.5. Cats
- 4.5.1. Cats market estimates and forecasts 2021 to 2033 (USD Million)
- 4.6. Other
- 4.6.1. Other market estimates and forecasts 2021 to 2033 (USD Million)
- Chapter 5. Europe Pet Insurance Market: Coverage Estimates & Trend Analysis
- 5.1. Europe Pet Insurance Market: Coverage Dashboard
- 5.2. Europe Pet Insurance Market: Coverage Movement Analysis
- 5.3. Europe Pet Insurance Market Estimates and Forecasts, By Coverage Type, Revenue (USD Million)
- 5.4. Accident & Illness
- 5.4.1. Accident & Illness market estimates and forecasts 2021 to 2033 (USD Million)
- 5.5. Accident Only
- 5.5.1. Accident only market estimates and forecasts 2021 to 2033 (USD Million)
- 5.6. Others
- 5.6.1. Others market estimates and forecasts 2021 to 2033 (USD Million)
- Chapter 6. Europe Pet Insurance Market: Sales Channel Estimates & Trend Analysis
- 6.1. Europe Pet Insurance Market: Sales Channel Dashboard
- 6.2. Europe Pet Insurance Market: Sales Channel Movement Analysis
- 6.3. Europe Pet Insurance Market Estimates and Forecasts, By Sales Channel, Revenue (USD Million)
- 6.4. Agency
- 6.4.1. Agency market estimates and forecasts 2021 to 2033 (USD Million)
- 6.5. Broker
- 6.5.1. Broker market estimates and forecasts 2021 to 2033 (USD Million)
- 6.6. Direct
- 6.6.1. Direct market estimates and forecasts 2021 to 2033 (USD Million)
- 6.7. Bancassurance
- 6.7.1. Bancassurance market estimates and forecasts 2021 to 2033 (USD Million)
- 6.8. Others
- 6.8.1. Other market estimates and forecasts 2021 to 2033 (USD Million)
- Chapter 7. Europe Pet Insurance Market: Regional Estimates & Trend Analysis by Animal type, Coverage type, and Sales Channel
- 7.1. Regional Dashboard
- 7.2. Market Size, & Forecasts Trend Analysis, 2021 to 2033
- 7.3. Europe
- 7.3.1. UK
- 7.3.1.1. Key country dynamics
- 7.3.1.2. Regulatory framework/ reimbursement structure
- 7.3.1.3. Competitive scenario
- 7.3.1.4. UK market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.2. Germany
- 7.3.2.1. Key country dynamics
- 7.3.2.2. Regulatory framework/ reimbursement structure
- 7.3.2.3. Competitive scenario
- 7.3.2.4. Germany market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.3. France
- 7.3.3.1. Key country dynamics
- 7.3.3.2. Regulatory framework/ reimbursement structure
- 7.3.3.3. Competitive scenario
- 7.3.3.4. France market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.4. Italy
- 7.3.4.1. Key country dynamics
- 7.3.4.2. Regulatory framework/ reimbursement structure
- 7.3.4.3. Competitive scenario
- 7.3.4.4. Italy market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.5. Spain
- 7.3.5.1. Key country dynamics
- 7.3.5.2. Regulatory framework/ reimbursement structure
- 7.3.5.3. Competitive scenario
- 7.3.5.4. Spain market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.6. Norway
- 7.3.6.1. Key country dynamics
- 7.3.6.2. Regulatory framework/ reimbursement structure
- 7.3.6.3. Competitive scenario
- 7.3.6.4. Norway market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.7. Sweden
- 7.3.7.1. Key country dynamics
- 7.3.7.2. Regulatory framework/ reimbursement structure
- 7.3.7.3. Competitive scenario
- 7.3.7.4. Sweden market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.8. Denmark
- 7.3.8.1. Key country dynamics
- 7.3.8.2. Regulatory framework/ reimbursement structure
- 7.3.8.3. Competitive scenario
- 7.3.8.4. Denmark market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.9. Austria
- 7.3.9.1. Key country dynamics
- 7.3.9.2. Regulatory framework/ reimbursement structure
- 7.3.9.3. Competitive scenario
- 7.3.9.4. UK market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.10. Hungary
- 7.3.10.1. Key country dynamics
- 7.3.10.2. Regulatory framework/ reimbursement structure
- 7.3.10.3. Competitive scenario
- 7.3.10.4. Germany market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.11. Poland
- 7.3.11.1. Key country dynamics
- 7.3.11.2. Regulatory framework/ reimbursement structure
- 7.3.11.3. Competitive scenario
- 7.3.11.4. France market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.12. Romania
- 7.3.12.1. Key country dynamics
- 7.3.12.2. Regulatory framework/ reimbursement structure
- 7.3.12.3. Competitive scenario
- 7.3.12.4. Italy market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.13. Czech Republic
- 7.3.13.1. Key country dynamics
- 7.3.13.2. Regulatory framework/ reimbursement structure
- 7.3.13.3. Competitive scenario
- 7.3.13.4. Spain market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.14. Switzerland
- 7.3.14.1. Key country dynamics
- 7.3.14.2. Regulatory framework/ reimbursement structure
- 7.3.14.3. Competitive scenario
- 7.3.14.4. Norway market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.15. Luxembourg
- 7.3.15.1. Key country dynamics
- 7.3.15.2. Regulatory framework/ reimbursement structure
- 7.3.15.3. Competitive scenario
- 7.3.15.4. Sweden market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.16. Portugal
- 7.3.16.1. Key country dynamics
- 7.3.16.2. Regulatory framework/ reimbursement structure
- 7.3.16.3. Competitive scenario
- 7.3.16.4. Denmark market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.17. Belgium
- 7.3.17.1. Key country dynamics
- 7.3.17.2. Regulatory framework/ reimbursement structure
- 7.3.17.3. Competitive scenario
- 7.3.17.4. Denmark market estimates and forecasts 2021 to 2033 (USD Million)
- 7.3.18. Rest of Europe
- 7.3.18.1. Key country dynamics
- 7.3.18.2. Regulatory framework/ reimbursement structure
- 7.3.18.3. Competitive scenario
- 7.3.18.4. Rest of Europe market estimates and forecasts 2021 to 2033 (USD Million)
- Chapter 8. Competitive Landscape
- 8.1. Market Participant Categorization
- 8.1.1. Market Leaders
- 8.1.2. Emerging Players
- 8.2. Market Share/Assessment Analysis, 2025 (Heat Map Analysis)
- 8.3. Company Profiles
- 8.3.1. Trupanion, Inc.
- 8.3.1.1. Company overview
- 8.3.1.2. Financial performance
- 8.3.1.3. Product benchmarking
- 8.3.1.4. Strategic initiatives
- 8.3.2. Deutsche Familienversicherung AG (DFV)
- 8.3.2.1. Company overview
- 8.3.2.2. Financial performance
- 8.3.2.3. Product benchmarking
- 8.3.2.4. Strategic initiatives
- 8.3.3. Petplan (Allianz)
- 8.3.3.1. Company overview
- 8.3.3.2. Financial performance
- 8.3.3.3. Product benchmarking
- 8.3.3.4. Strategic initiatives
- 8.3.4. GetSafe GmbH
- 8.3.4.1. Company overview
- 8.3.4.2. Financial performance
- 8.3.4.3. Product benchmarking
- 8.3.4.4. Strategic initiatives
- 8.3.5. Jab Holding Company
- 8.3.5.1. Company overview
- 8.3.5.2. Financial performance
- 8.3.5.3. Product benchmarking
- 8.3.5.4. Strategic initiatives
- 8.3.6. Direct Line (Aviva)
- 8.3.6.1. Company overview
- 8.3.6.2. Financial performance
- 8.3.6.3. Product benchmarking
- 8.3.6.4. Strategic initiatives
- 8.3.7. EQT Group (ManyPets)
- 8.3.7.1. Company overview
- 8.3.7.2. Financial performance
- 8.3.7.3. Product benchmarking
- 8.3.7.4. Strategic initiatives
- 8.3.8. Waggel Limited
- 8.3.8.1. Company overview
- 8.3.8.2. Financial performance
- 8.3.8.3. Product benchmarking
- 8.3.8.4. Strategic initiatives
- 8.3.9. ProtectaPet
- 8.3.9.1. Company overview
- 8.3.9.2. Financial performance
- 8.3.9.3. Product benchmarking
- 8.3.9.4. Strategic initiatives
- 8.3.10. Perfect Pet Insurance
- 8.3.10.1. Company overview
- 8.3.10.2. Financial performance
- 8.3.10.3. Product benchmarking
- 8.3.10.4. Strategic initiatives
- 8.3.11. Feather Insurance (Popsure Deutschland GmbH)
- 8.3.11.1. Company overview
- 8.3.11.2. Financial performance
- 8.3.11.3. Product benchmarking
- 8.3.11.4. Strategic initiatives
- 8.3.12. Agria Pet Insurance Ltd
- 8.3.12.1. Company overview
- 8.3.12.2. Financial performance
- 8.3.12.3. Product benchmarking
- 8.3.12.4. Strategic initiatives
- 8.3.13. Dalma
- 8.3.13.1. Company overview
- 8.3.13.2. Financial performance
- 8.3.13.3. Product benchmarking
- 8.3.13.4. Strategic initiatives
- 8.3.14. Lassie
- 8.3.14.1. Company overview
- 8.3.14.2. Financial performance
- 8.3.14.3. Product benchmarking
- 8.3.14.4. Strategic initiatives
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