APAC slated for 20% of global pet insurance market in 2025

Employer benefits programmes offering pet insurance have increased by 30%.

Asia-Pacific is expected to hold about 20% of the global pet insurance market, according to CoinLaw.

The global pet insurance market is projected to reach $12.8b in 2025, growing at a compound annual rate of 17.3% since 2020.

But North America still leads the sector with about 39% of the global market, followed by Europe at 35%. Sweden continues to report the highest penetration at close to 90%, whilst the UK is in the 25% to 30% range.

Accident and illness policies remain the most common type of coverage, accounting for 82% of active policies.

Direct sales channels, particularly digital platforms, now account for 42% of policies, whilst veterinary clinics contribute around 20%. 

Employer benefits programmes offering pet insurance have increased by 30% since 2023. Social media campaigns and mobile apps are playing a growing role in policy distribution.

Generational demand is driving further adoption. 

Millennials account for 30% of pet owners in 2025, whilst Gen Z makes up 20%. Gen Z shows the highest insurance uptake at 42%, followed by Millennials at 31%.