Enjoy complimentary customisation on priority with our Enterprise License!
The pet food market size is forecast to increase by USD 41 billion, at a CAGR of 6.15% between 2023 and 2028. The growing demand for organic pet food is notably driving the pet food market growth, although factors such as increasing instances of pet allergies among pet owners may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the pet food industry. Additionally, The growth of the market in North America is influenced by the large interest in pet ownership in countries like the US, Canada, and Mexico. Moreover, the demand in North America is also increasing due to the trend towards humanization of pets. Further, Agrolimen SA company offers food such as Affinity Advance, Affinity Ultima, and Affinity berkkies.
To learn more about this report, Download Pet Food Market Analysis Report Sample
The market is witnessing a surge in demand for nutritious food and innovative ingredients catering to the diverse dietary needs of cats, birds, small mammals, and rodents. With a focus on organic pet food and essential ingredients like probiotics and antioxidants, brands are tapping into the trend of pet premiumization. Consumers seek flavors and customized products to address specific nutrient profiles and skin and coat concerns. While commercial foods remain popular, there's a growing interest in home-cooked and plant-based pet food options, reflecting a shift towards personalized and health-focused choices. Amidst concerns like stockpiling, the market continues to innovate, offering a wide range of dry pet food and snack treats to meet the evolving preferences of pet owners seeking high-quality, nutrient-rich options for their beloved companions. Our market growth analysis report analyzed the market growth and forecasting data with 2023 as the base year, along with the key trends, and challenges. A holistic analysis of market growth and trends, drivers, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
Growing demand for organic pet food is the key factor driving the market. The market encompasses a wide range of offerings, including dry and wet varieties, snack treats, animal-based, and plant-based options. Consumers increasingly prioritize the source and quality of ingredients in their pet's meals, leading to a growing demand for organic and natural alternatives. Animal-based pet food may consist of fish meal, poultry meal, or other animal meals, while plant-based sources include grains, vegetables, and legumes. Stockpiling of pet food has become commonplace due to the middle-class population's increasing pet ownership and the pet ownership culture's expansion. Customized and personalized products catering to specific dietary needs, such as obesity management or oral system health, are gaining popularity.
Further, the animal source is crucial, with animals raised on organic feed, given access to the outdoors, and not treated with antibiotics or hormones, being preferred. Plant-based ingredients, grown free from pesticides, artificial fertilizers, genetic modification, irradiation, and sewage sludge, are essential for organic certification. Hypermarkets, specialty stores, and online channels serve as the primary distribution channels for pet food. The market's growth is influenced by the rising awareness of pet health and wellness, with a focus on skin and coat health, obesity management, and oral system health. The nutrient profile of pet food plays a significant role in its appeal, with vegetarianism and veganism gaining traction among pet owners.
The rising demand for grain-free and freeze-dried pet food is a key trend in the market growth. Align with market trends and analysis, raw materials such as raw meat, contain no preservatives, fillers, gums, thickeners, or any artificial ingredients that some customers avoid, which steers the market for raw options over the forecasted timeframe. However, some veterinarians and others have expressed concerns over the safety of raw options, but it continues to grow in market share.
Further, with continued scientific criticism over the presence of certain pathogens, bacteria, and parasites in animal feed, the market for raw products can be challenged in the future. Also, in several studies, scientists have suggested that this product is not just dangerous but to the owners as well as it can cause skin problems and allergies. Thus, such factors will boost the growth of the global market during the forecast period.
The usage of artificial colors or flavor enhancers, antibiotics, herbicides, pesticides, and chemical preservatives is a challenge faced by the market. Additives are substances used by the industry to improve their taste, appearance, and flavor in order to prevent them from deteriorating. MSG is used as a flavor enhancer in many products, but it is quite tasteless itself. It works by misleading the brain into thinking meals tastes good. This is a type of neurotransmitter known as excitotoxins, and they're supposed to be overstimulating the brain so that it produces an overload of dopamine which causes the short sensation of well-being.
However, in the long run, it damages the brain and alters its ability to respond to signals. MSG can cause obesity, neuroendocrine disturbances, and behavioral disturbances, and it is toxic to various organs such as the liver, brain, thymus, and kidneys. Nowadays, owners are aware of natural meals and their benefits to the well-being of their pets. Pet owners avoid products that contain preservatives, additives, and meals taste enhancers, which, in turn, will negatively impact the growth of the global market during the forecast period.
The market share growth by the dry food segment will be significant during the forecast period. Dry food can be easily stored and transported. The cost savings associated with the ease of storage and transportation of such food products benefit the customer. It is associated with minimal storage risk. The amount of water in dried food is 10 % whereas wet pet food contains 75 %, which facilitates the maintenance of oral hygiene in pets.
For a detailed summary of the market segments Request for Sample Report
The dry food segment was the largest segment and was valued at USD 46.30 billion in 2018. Dry food can be easily arranged in puzzle toys and facilitates controlled intake. The number of pet owners worldwide is increasing, particularly in emerging regions like India and Malaysia, which will augment the growth of the dry food segment of the global market during the forecast period.
In countries like Australia, the awareness and consumption of packaged dog food is high, which will remain the same during the forecast period. It is because of factors such as the humanization of pets and an increasing number of owners who are switching to premium products. Owners are becoming more and more interested in the offer of alternative, cleaner products for their dogs across the country. Thus, it is expected that companies operating in this market would look for ways to leverage the trends, with an emphasis on trends such as health and wellness, which will continue to encourage pet owners to buy premium products in the country. Thus, it will boost the growth of the dog food segment of the global market during the forecast period.
Get a glance at the Pet Food Market share of various regions View PDF Sample
North America is estimated to contribute 33% to the growth of the global market research and growth during the forecast period. Technavio's analysts have provided an extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. In countries like the U.S., owners are informed and closely monitoring the quality and origin of ingredients in dog products. As the pet humanization trend is gaining traction, the demand for nutritional and premium products, like organic pet food, is increasing, which, in turn, is driving the value sales of the market in this region. Also, owing to concerns regarding the extensive use of additives and preservatives in non-organic products, pet owners in the region have started to opt for organic food. Another region that is observing steady growth is the France pet food market.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, which forecasts to enhance their presence in the market report.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecast report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is a dynamic industry catering to the nutritional needs of domesticated animals like dogs, cats, and even ornamental fish. With a wide range of ingredients including meat byproducts, cereals, grains, and specialty proteins, pet food manufacturers aim to provide balanced diets fulfilling standard nutritional requirements. From animal-based proteins to plant-based sources, options abound to address diverse pet health concerns such as joint disease and oral system health. As pet ownership culture grows, so does demand for premium pet food and personalized products, driving sales through offline stores, online channels, and specialty stores alike. However, challenges like high pet expenditure and concerns over health-related issues prompt a shift towards home-cooked and high-protein options, reflecting a trend towards healthier and more conscious pet care among millennials and the burgeoning middle-class population.
Further, the market is a vibrant industry catering to the diverse nutritional needs of pets, with a plethora of ingredients including palatants, sweeteners, vitamins, and minerals. Manufacturers also incorporate enzymes, protein components, and fat to ensure balanced diets for carnivorous species like dogs and cats. From grinding and cooking to mixing, meticulous processes are employed to create both dry dog food and wet food products with extended shelf-life. While animal protein meals are common, there's a rising demand for plant-based proteins to address concerns like diabetes and high blood pressure. As pet owners prioritize health, vet care and access to nutritious foods become paramount, alongside a growing trend towards pet adoption and home-cooked meals. With the convenience of online stores and the variety offered by hypermarkets, the market continues to evolve to meet the needs of pets and their owners alike.
Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.15% |
Market Growth 2024-2028 |
USD 41 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.68 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 33% |
Key countries |
US, UK, Japan, Brazil, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks, Pet Food Market Industry Report |
Key companies profiled |
Agrolimen SA, Archer Daniels Midland Co., C and D Foods Ltd., Colgate Palmolive Co., General Mills Inc., Global Pet Foods, Hartz Mountain Corp., Himalaya Global Holdings Ltd., Mars Inc., Merrick Pet Care Inc., Nestle SA, Nippon Pet Food Co. Ltd, NutriSource Pet Foods, Premier Petfoods Company Pty Ltd, Schell and Kampeter Inc., Sunshine Mills Inc., The J.M Smucker Co., Tiernahrung Deuerer GmbH, Unicharm Corp., and Wellness Pet Co. Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our pet food market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
BUY NOW Full Pet Food Market Forecast Report and Discover more
We can help! Our analysts can customize this Pet Food Market worth report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.