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The pet food market size is estimated to grow at a CAGR of 5.71% between 2022 and 2027. The market size is forecast to increase by USD 35.75 billion.
This pet food market report extensively covers market segmentation by product (dry food, wet food, and snacks and treats), type (dog food, cat food, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
Organic pet food is a natural food for the pet which must meet the USDA regulations report on the organic label. Consumers are increasingly aware of ingredients in pet food, which they have not been until now. When it comes to human food, pet owners want the same for their pets, as organic and natural foods are becoming popular. The global market for organic pet food is growing at a high rate owing to the increasing focus of pet owners on pet health and wellness, along with the emerging pet humanization trend. For many pet owners, their pets are part of the family. Currently, the adoption rate of small reptiles is less than that of small mammals; therefore, not many companies are coming up with organic food designed for small reptiles. However, in the upcoming years, as more and more pet owners adopt smaller reptiles of animals, there is a strong chance that organic food for those categories will grow in popularity. Thus, the growing demand for organic pet food will propel the growth of the global pet food market during the forecast period.
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Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.
The rising demand for grain-free and freeze-dried pet food is a key trend in the pet food market growth. Raw materials such as raw meat of raw pet food, contain no preservatives, fillers, gums, thickeners, or any artificial ingredients that some customers avoid, which is steer the market for raw pet food over the forecasted timeframe for pet food.
However, some veterinarians and others have expressed concerns over the safety of raw pet food, but it continues to grow in market share. With continued scientific criticism over the presence of certain pathogens, bacteria, and parasites in animal feed, the market for raw pet food can be challenged in the future. Also, in several studies, scientists have suggested that this food is not just dangerous to pets but to the owners as well as it can cause skin problems and allergies. Thus, such factors will boost the growth of the global pet food market during the forecast period.
The usage of artificial colors or flavor enhancers, antibiotics, herbicides, pesticides, and chemical preservatives in pet food offerings is a challenge faced by the pet food market. Food additives are substances used by the food industry to improve their taste, appearance, and flavor in order to prevent them from deteriorating. MSG is used as a flavor enhancer in many pet foods, but it is quite tasteless itself. It works by misleading the brain into thinking food 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 food and its benefits to the well-being of their pets. Pet owners avoid pet food that contains preservatives, additives, and food taste enhancers in it, which, in turn, will negatively impact the growth of the global pet food 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 packaged dog food. Pet owners are becoming more and more interested in the offer of alternative, cleaner foods for their dogs across the country. Thus, it is expected that companies operating in this market would look for ways to leverage food trends, with an emphasis on trends such as health and wellness, which will continue to encourage pet owners to buy premium dog food in the country. Thus, it will boost the growth of the dog food segment of the global pet food market during the forecast period.
In countries like Australia, the sale of cat food is expected to grow at a fast rate during the forecast period. Pet owners in the country are increasingly paying attention to the health and wellness of their pet cats. Thus, companies operating in the market have started focusing on cat food offerings with premium quality and all-natural ingredients, as well as gourmet meal options. In view of cat owners' continued desire to buy higher-quality cat treats, it is anticipated that there will be a rapid increase in sales during the forecast period. In smaller towns there is a growing preference to adopt cats, leading to increased demand for cat food in the country. This is because there has been a gradual shift from homemade food to branded and ready-to-eat products in Indian households. Thus, such factors will propel the growth of the cat food segment of the global pet food market during the forecast period.
The market share growth by the dry food segment will be significant during the forecast period. Dry pet 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. Dry pet food is associated with minimal storage risk. The amount of water in dried pet food is 10 % whereas wet pet food contains 75 %, which facilitates the maintenance of oral hygiene in pets.
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The dry food segment was valued at USD 43.98 billion in 2017 and continued to grow until 2021. Dry pet food can be easily arranged in food puzzle toys and facilitates the controlled intake of food by pets. 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 pet food market during the forecast period.
As of now, the demand for wet pet food is lower than that for dry pet food. However, the need for wet pet food is expected to increase during the forecast period owing to factors such as high-water content, ease of chewing, and increased satiety. Pet owners with older pets prefer wet food products to dry pet food. Weak teeth and gum are features of the older pet. This is why the market for dog food in the world has become increasingly dependent on dry animal feed. The enhanced protein and fat content compared to dry dog food is the distinguishing feature of dried dog food. Thus, the former is perceived to be tastier. A few challenges, like high transportation costs and low durability or high perishability of wet pet food, might negatively impact the growth of the wet pet food segment in the global pet food market during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America is expected to be the largest geographical segment of the global pet food market during the forecast period. 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 for pet food in North America is also increasing due to the trend towards humanization of pets. In countries like the U.S., owners are informed and closely monitoring the quality and origin of ingredients in dog food products. As the pet humanization trend is gaining traction, the demand for nutritional and premium pet food, 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 pet food, pet owners in the region have started to opt for organic pet food.
In 2020, the outbreak of COVID-19 negatively affected the pet food market in North America. However, the initiation of vaccination drives led to the restoration of the supply chain of pet food and the reopening of manufacturing units of pet food in the region, which stabilized the growth of the market in 2021. Also, in order to increase their local sales, market retailers have become more and more interested in eCommerce channels. Alternative ways of introducing products to potential buyers, e.g. through Internet branding, are increasingly being taken into account by the main players on the market. Thus, all these factors will propel the growth of the pet food market in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The pet food market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Pet Food Market Customer Landscape
The pet food market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Pet Food Market Scope |
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Report Coverage |
Details |
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Page number |
171 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.71% |
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Market growth 2023-2027 |
USD 35.75 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.47 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 35% |
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Key countries |
US, Japan, UK, France, and Brazil |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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, Wellness Pet Co. Inc., and Unicharm Corp. |
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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, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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