Fresh Pet Food Market Size, Share, Growth Analysis, By Animal Type(Dogs, Cats), By Product(Dry Pet Food, Wet Pet Food), By Ingredient(Animal Derivatives, And Plant Derivatives), By Sales Channel(Pet Store, Online Sale), By Pricing(Economy, Premium) - Industry Forecast 2024-2031

Global Fresh Pet Food Market size was valued at USD 1.2 billion in 2022 and is poised to grow from USD 1.35 billion in 2023 to USD 3.58 billion by 2031, growing at a CAGR of 12.9% during the forecast period (2024-2031).

Increasing pet ownership around the world and growing concern for their health are projected to be primary factors that could drive fresh pet food market growth. Awareness regarding improvement in overall digestion and performance of pets due to the consumption of whole foods will also promote market growth during the forecast period. The growing popularity of organic foods among humans has brought this trend to the pet food space as well, which is why pet food companies are focusing on the inclusion of important ingredients such as probiotics and antioxidants to maximize their sales.

On the other hand, the low product density resulting from a slightly high price may slow down the growth of the organic segment in the coming years, because not every household could buy expensive products. The market value chain is characterized by e.g. raw material suppliers, manufacturers, distributors, and final consumers of domestic animals Meat-based raw materials are processed/digested to separate protein components, water, and fat. The production process also includes grinding, cooking, and mixing the raw materials with other ingredients.

For example, in March 2023, pet food prices in America rose 15.1% year over year. The growing middle class, rapid urbanization, and an aging population are turning the United States into a pet-owning society, with dogs and cats being the most common pets. In the United States, people welcome other pets within their families wholeheartedly, there is a growing trend among pet owners to make fun of their pets. The demand for luxury and branded pet products, especially food, is expected to increase during the forecast period. The younger generation supports this trend and wants to maintain it as well as monitoring and taking advice on health care and nutrition. They often take their pets to the vet for this. Urbanization and growing health awareness are driving pet owners to buy higher-quality natural foods. These foods are free of genetically modified bacteria, artificial colors, and flavors to promote their pet's health. Consumers also know they contain high-quality proteins and vitamins to protect the pet’s skin, and digestion, and maintain their overall health.