Global Pet Food Market

Pet Food Market Size, Share, Growth Analysis, By Animal Type(Dogs, Cats), By Form(Dry Pet Food, Wet Pet Food), By Source(Animal, Plant) - Industry Forecast 2024-2031


Report ID: SQMIG30K2044 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 89 | Figures: 76

Pet Food Market Insights

Pet Food Market size was valued at USD 95.1 billion in 2019 and is poised to grow from USD 99.1 billion in 2023 to USD 139.29 billion by 2031, growing at a CAGR of 4.3% in the forecast period (2024-2031).

One of the key factors influencing the global Pet Food Market is the growing consumer awareness of natural and organic pet food products, which has compelled producers to reorient their attention from synthetic to natural products. Many folks took advantage of the lockdown's opportunity to purchase a family pet because they were working from home at that time. According to numerous studies, having a pet makes people less likely to experience issues like loneliness and depression because pets provide companionship. Breeders and rescue organizations noted a surge in requests from people looking for dogs in 2019. According to Mars Petcare, a well-known producer of pet foods, the combined sales of cat and dog treats increased by 6.5% in the 12 weeks between February and May 2020. This signifies the pet food market growth, which is expected to continue post pandemic.

US Pet Food Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 95.1 billion

Largest Segment

Dogs

Fastest Growth

Dogs

Growth Rate

4.3% CAGR

Global Pet Food Market ($ Bn)
Country Share for North America Region (%)
Global Pet Food Market By Animal Type ($ Bn)
Global Pet Food Market By Animal Type (%)

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Pet Food Market Segmental Analysis

The Global Pet Food Market is segmented based on animal type, form source, and region. Based on the animal type, the Pet Food Market is segmented into dogs, cats, and others. Based on the form, the Pet Food Market is segmented into dry pet food, wet pet food, and snacks & treats. Based on the source, the Pet Food Market is segmented into animal and plant. Based on the region Pet Food Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA. 

Pet Food Market Analysis by Animal Type

Based on the animal type, the Pet Food Market is segmented into dogs, cats, and others. The dog segment is projected to hold the most substantial share in the market. Dogs are widely preferred as pets around the world, which is a big factor in the animal's dominance of the market. Moreover, the market for natural and higher-quality dog food is being driven by the high costs involved with the upkeep and welfare of dogs. Another key factor in the segment's expansion is the introduction of dog treats and nutrient-dense food. Cat ownership is anticipated to grow significantly in the upcoming years due to their low care needs and high level of human friendliness.

Global Pet Food Market By Animal Type, 2019 (%)

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Pet Food Market Regional Insights

North America currently holds the majority share in the global Pet Food Market and the region is predicted to lead the market throughout the forecast period. One of the key factors in the region's supremacy is the high rate of pet adoption in American households. A poll by the American Pet Products Association (APPA) found that around 85 million American families, or 67% of all households in the country, have pets. The adoption of pet humanization and the favorable public perception of it in North America are fostering market expansion for wholesome pet food products.

The trend of treating pets as individuals is driving high spending on safe and sustainable pet food in Europe. Furthermore, pet owners in Europe desire greater openness in the components of pet food products. Germany and France are the next two biggest markets in Europe after the U.K. 72% of pet owners in the United Kingdom consider themselves to be pet parents, according to Mars Petcare's State of the Pet Nation study. The high consumption of pet food is partly influenced by the preference of U.K. pet owners for premium and natural pet food products.

Global Pet Food Market By Region, 2024-2031
  • Largest
  • Fastest

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Pet Food Market Dynamics

Pet Food Market Driver

  • One of the main market drivers is expected to be the rising prevalence of pet ownership worldwide, particularly in emerging nations. Rising urbanization and the humanization of pets are pushing pet owners to choose wholesome and high-quality food for their animals, which is further accelerating the market's growth rate. Consumers' increased per capita incomes are encouraging them to spend money on organic and healthy pet food items to improve the health of their pets. Additionally, the simple accessibility of goods in a variety of price ranges is aiding the global market's expansion. They provide customers with a variety of options and financial statuses.

Pet Food Market Restraint

  • Particularly in western markets, pet food is one of the food products that is most strictly controlled. Pet animal foods are rigorously inspected in developed markets at every stage, from the ingredients used in food preparation to sales and marketing. The high standards required for commercialization may be a significant barrier to the market's expansion. Additionally, a barrier to the market's expansion may be some developing economies' lesser acceptance of premium or expensive pet foods.

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Pet Food Market Competitive Landscape

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.

Pet Food Market Top Players' Company Profiles

Pet Food Market Recent Developments

  • In March 2021, Leading pet food producer Mars, Inc., headquartered in the US, committed USD 200 million to develop its Royal Canin facility in Lebanon. To increase its production capacity, the company will install five new corporate lines.

Pet Food Key Market Trends

  • Pets are increasingly being treated as members of the family by their owners. This trend in pet humanization has boosted pet expenditure while increasing demand for safe and nutritional pet health products. The concept of personalized pet food products is gaining popularity in developed areas and is anticipated to do the same in emerging markets in the coming years. As pet owners become more aware of the food, they are giving their pets, personalization of pet food items has a lot of potentials to increase tremendously. A tremendous potential opportunity exists for brands or businesses that provide specially made and tailored food items for pet animals as pet owners are leaning toward having better control over the ingredients used in the manufacturing of pet food products.

Pet Food Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

As per our analysis, based on the animal type, the dog segment is projected to hold the most substantial share in the market. Based on form, the dry pet food segment market is projected to hold the most substantial share in the market. Based on application, the farms segment is projected to hold the most substantial share in the market. Based on source, the plant source segment market is projected to hold the most substantial share in the market. Whereas, based on the region, the North America region is projected to hold the most substantial share in the market.

Report Metric Details
Market size value in 2019 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
  • Animal Type
    • Dogs, Cats, Others
  • Form
    • Dry Pet Food, Wet Pet Food, Snacks & Treats
  • Source
    • Animal, Plant
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

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  • Region

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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
  • 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
  • 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
  • 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(%)

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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FAQs

Pet Food Market size was valued at USD 95.1 billion in 2019 and is poised to grow from USD 99.1 billion in 2023 to USD 139.29 billion by 2031, growing at a CAGR of 4.3% in the forecast period (2024-2031).

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Mars Petcare Inc.', 'Nestlé Purina PetCare', 'Hill's Pet Nutrition Inc.', 'Blue Buffalo Co., Ltd.', 'The J.M. Smucker Company', 'Diamond Pet Foods Inc.', 'Deuerer GmbH', 'Nutriara Alimentos Ltda', 'WellPet LLC', 'Merrick Pet Care', 'Diamond Pet Foods Inc.', 'Sunshine Mills, Inc.', 'Ainsworth Pet Nutrition', 'Agrolimen SA', 'InVivo NSA', 'Big Heart Pet Brands', 'Unicharm Corp.', 'Doane Pet Care', 'C&D Foods Holdings Ltd.', 'Colgate-Palmolive Co.'

One of the main market drivers is expected to be the rising prevalence of pet ownership worldwide, particularly in emerging nations. Rising urbanization and the humanization of pets are pushing pet owners to choose wholesome and high-quality food for their animals, which is further accelerating the market's growth rate. Consumers' increased per capita incomes are encouraging them to spend money on organic and healthy pet food items to improve the health of their pets. Additionally, the simple accessibility of goods in a variety of price ranges is aiding the global market's expansion. They provide customers with a variety of options and financial statuses.

Pets are increasingly being treated as members of the family by their owners. This trend in pet humanization has boosted pet expenditure while increasing demand for safe and nutritional pet health products. The concept of personalized pet food products is gaining popularity in developed areas and is anticipated to do the same in emerging markets in the coming years. As pet owners become more aware of the food, they are giving their pets, personalization of pet food items has a lot of potentials to increase tremendously. A tremendous potential opportunity exists for brands or businesses that provide specially made and tailored food items for pet animals as pet owners are leaning toward having better control over the ingredients used in the manufacturing of pet food products.

North America currently holds the majority share in the global Pet Food Market and the region is predicted to lead the market throughout the forecast period. One of the key factors in the region's supremacy is the high rate of pet adoption in American households. A poll by the American Pet Products Association (APPA) found that around 85 million American families, or 67% of all households in the country, have pets. The adoption of pet humanization and the favorable public perception of it in North America are fostering market expansion for wholesome pet food products.

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Global Pet Food Market

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