USD 95.1 billion
Pet Food Market Size, Share, Growth Analysis, By Pet Type(Dogs, Cats, Others), By Food Type(Dry Food, Wet Food, Treats & Snacks and Others), By Sales Channel(Supermarkets & Hypermarkets, Specialized Pet Shops, Online Sales Channel and Others), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG30K2044 |
Region:
Global |
Published Date: August, 2024
Pages:
157
|Tables:
89
|Figures:
76
Pet Food Market Insights
Pet Food Market size was valued at USD 99.1 Billion in 2023 and is poised to grow from USD 103.36 Billion in 2024 to USD 145.28 Billion by 2032, growing at a CAGR of 4.3% during the forecast period (2025-2032).
Some of the main drivers propelling the market growth include the rise in per capita disposable income, the tendency towards more nuclear households, and the quickening pace of humanization. Pet parents typically use packaged nutritional food to ensure that their pets are getting enough nutrients. Compared to other animals like cats, fish, birds, and reptiles, dogs are more commonly kept as pets. The pet food producers now have a profitable chance to provide a broad range of dog food items. Most people consider their pets to be members of their families, and most pets are dogs and cats.
Smaller dogs are most suited to the lifestyles of residents in many regions who live in small apartments. As most people decide against having children, there is a growing tendency to employ dogs as stand-ins, which has led to the pampered pet industry. The primary causes promoting pet adoption globally are an increase in the number of elderly couples and DINK (dual income, no kid) families, as well as increased disposable money. The number of people who are separated from their pets has increased significantly, which is one of the main factors influencing the nation's pet food consumption.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Dogs
Fastest Growth
Dogs
Growth Rate
4.3% CAGR
Global Pet Food Market ($ Bn)
Country Share by North America (%)
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Pet Food Market Segmental Analysis
The Global Pet Food Market is segmented based on Pet Type, Food Type and Sales Channel. In terms of Pet Type, the market is trifurcated into Dogs, Cats and Others. Based on the Food Type, the market is grouped into Dry Food, Wet Food, Treats & Snacks and Others. In terms of Sale Channel, the market is segmented into Supermarkets & Hypermarkets, Specialized Pet Shops, Online Sales Channel and Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa.
Analysis by Pet Type
As per categorization by top pet type, the market is classified as dogs, cats and others. Among these, dogs earned the largest share and continue to dominate the market. Currently, the Dogs has a leading position in the global pet food market as it is benefitting from high-end, natural and health-focused goods as well as the increased demand for specialized diets and pet humanization. The main reason for their dominance is that these loyal companions such as dogs have a high demand for dietary supplements and wellness products formulated according to their specifications.
According to many factors such as urbanization, smaller living spaces as well as increasing popularity of cats as pets that require less maintenance, cat types are predicted to have the highest growth rate in the global pet food market. Innovations for specialty grain free and health-conscious cat foods cater to increased demand from owners of cats who are concerned with their health or convenience.
Analysis by Food Type
The pet food’s food type segment is dominated by the dry food type due to its extended shelf life, affordability, and ease of use. Advances in nutritious, personalized formulas for various pets have made it more famous. Moreover, its fame has grown due to its convenience in storage, its ability to cater for dogs and cats, and the busy schedules of their owners.
The global pet food market will grow rapidly for wet type due to its delectable taste, high moisture contents and appeal to pet owners seeking high-quality, nutrient-rich alternatives. This is driven by a focus on naturalness without grains in products and the need for keeping pets healthy and well hydrated which are increasingly becoming popular among discerning customers.
Global Pet Food Market By Pet Type (%)
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Pet Food Market Regional Insights
The global pet food market is dominated by North America due to its high rates of pet ownership, robust economy and strong culture for pet humanization where pets are seen as family members. The region’s already established pet food industry gains from continuous advancements in premium, organic and health-oriented products to meet the complexities of owners’ requirements. The industry is growing due to North America's sophisticated distribution networks, extensive retail presence, and large investments in pet wellness. North America's dominant position in the global pet food market is further supported by regulatory support and consumer preference for premium, safe pet food products.
In terms of growth rates, Europe’s pet food market region stands to register the highest worldwide increase owing to a rise in pet ownership predominantly among young populations and urban inmates. The rising number of pets as members of families has led to increased demand for specialized diets that are purest, organic or contain elevated protein levels. Moreover, increasing concern about sourcing of raw materials used for human consumption such as fruits or vegetables has contributed towards development of eco-friendly formulations and packaging. The market's expansion is further aided by laws that are favorable to the industry and the substantial presence of national and multinational pet food brands. The pets’ well-being and health in this locality perfectly correspond to the general inclination of society in favor of more natural and health-oriented consumer options.
Global Pet Food Market By Geography
- Largest
- Fastest
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Pet Food Market Dynamics
Drivers
Pet Humanization is Fueling Premium, Organic, and Healthy Pet Foods
- A major factor driving the global pet food market is the worldwide trend of pet humanization, in which animals are viewed more and more as members of the family. Thus, there is an elevated demand for premium, organic and healthy pet foods due to the emergence of such social change, where owners are trying to give their pets the best care and feeding possible.
Growing Pet Ownership
- One of the main factors propelling the market's expansion is the rise in pet ownership worldwide, especially among younger demographics and in metropolitan regions. This increase is attributed to several factors, including urbanization, smaller household sizes, and the social demands of single-person families. Pet adoption is on the rise, and with it comes a growing need for easy and varied pet food options among millennials and Gen Z.
Restraints
Increasing Expenses of Raw Materials
- The period of training you receive concerning the data ran up until October 2023. Increased manufacturing could develop out of price surges in essential raw materials such as beef, grains, and other products which are used to prepare pet food. Higher input costs may be passed on to consumers through increased prices for pet food that ultimately deteriorate demand among financially stretched households, implying a dim future for this business overall.
Increasing Concerns Over Pet Food Safety
- Consumer confidence and purchase behavior may be impacted by growing awareness of pet food safety and recalls brought about by contamination or quality problems. Due to the controversies surrounding various high-profile recalls and allegations of adverse human health outcomes associated with some pet foods, owner’s skepticism towards such companies may increase.
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Pet Food Market Competitive Landscape
Many large companies competing for market share with a range of product offerings define the competitive landscape of the global pet food market. A few of the top global businesses that propel innovation in high-end and speciality pet food products include J.M. Smucker Company, Nestlé Purina Petcare, and Mars Petcare. Finally, Royal Canin and Hill’s Pet Nutrition are examples of firms that can be said to influence market dynamics through emphasizing custom nutrition and health-oriented products. The market is very active with continuous product developments and strategic expansions.
Top Player’s Company Profiles
- Mars Incorporated (US)
- Nestlé Purina PetCare (Nestle S.A.) (Switzerland)
- Hill's Pet Nutrition Inc. (US)
- The J.M. Smucker Company (US)
- Diamond Pet Foods Inc. (US)
- Tiernahrung Deuerer GmbH (Germany)
- General Mills, Inc. (US)
- WellPet LLC (US)
- Sunshine Mills, Inc. (US)
- Royal Canin (US)
- Agrolimen SA (US)
- Drools Pet Food (India)
- Merrick Pet Care, Inc. (US)
- Unicharm Corp. (Japan)
- Heristo AG (Germany)
Recent Developments
- In August 2024, with recyclable packaging and sustainable sourcing, Nestlé Purina Petcare has come out with their new line of environmentally friendly pet foods. Through this program, the company aims to meet consumers’ ever increasing thirst for eco-friendly goods while still maintaining the highest standards of pet nutrition.
- In June 2024, The up-to-date and new digital platform has been introduced by Mars Petcare with an advanced range of individualised pet food. This platform enhances nutritional accuracy and forges specific diet plans by relying on pet medical information which in turn meet the special health requirements of each dog through AI based evaluations.
- In July 2024, A premium brand of grain-free pet foods was added to the J.M. Smucker Company's inventory. With premium, nutrient-dense ingredients, this innovation satisfies the growing trend of grain-free meals among pet owners looking to address dietary sensitivities and enhance overall canine health.
Pet Food Key Market Trends
- Customized Recipes and Specialized Diets for Enhanced Pet Health: Among the significant strategies that businesses use are differentiation strategies, which set them apart from similar companies in the pet food industry. These organizations are trying to differentiate themselves with respect to pet food products by creating recipes specifically designed for different dietary requirements or to tackle various health problems facing animals. Similarly, other businesses focus on grain-free or hypoallergenic diets; these pet goods are intended for pet owners whose animals have food sensitivity issues.
- Strategic Role of Distribution Channels in the Pet Food Sector: In the pet food sector, the distribution channel plays a crucial role in influencing market share positioning. There is due diligence done on the sites and means of distribution so that items can get to their requisite market. Some manufacturers prefer to ally with specialized pet stores or veterinary clinics as their distributors as these outlets provide quality services and highly recommended products.
Pet Food Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, in conclusion, the tendency towards pet humanization, increasing disposable incomes and urbanization are some factors contributing to the booming global pet food market. Manufacturers have a wide range of specialized products as dogs are widely regarded as pets, and this change in family structures coupled with a rise in the number of small animals is responsible for growing demand for specialty pet foods.
Even though there are challenges in terms of increased costs of raw materials or even safety concerns, essential issues such as humanization and an increase in pet ownership continue driving these industries forward. This is seen in the growth of specific regions, especially North America and Europe, which display a shift towards more lavish, health-conscious, and eco-friendly pet-food products.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 95.1 Billion |
| Market size value in 2031 | USD 139.29 Billion |
| Growth Rate | 4.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Pet Food Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Pet Food Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Pet Food Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Pet Food Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Pet Food Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Pet Food Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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