Pet Food Market - Forecast(2024 - 2030)

Report Code: FBR 84784 Report Format: PDF + Excel

Pet Food Market Overview:

The Pet Food Market size is estimated to reach $90 billion by 2030, growing at a CAGR of 8.4% during the forecast period 2023-2030. Pet food is a specialty food for domesticated animals and is formulated to meet their nutritional requirements such as meat, grains, cereals, meat by-products, vitamins and minerals. It is available in supermarkets/hypermarkets & pet stores and customized to the types of animals such as cats, dogs, fish and other pets.

Increasing demand for Premium Pet Food Products and rising pet ownership across developing economies are expanding the Pet Food Market opportunities. Rising health awareness among customers and attraction towards organic products are also driving the Pet Food Market growth. As per American Veterinary Medical Association, pet ownership for cats has increased to 29% in 2022. For dogs, it has increased to 45% in 2022. This represents the Pet Food Industry Outlook.

Market Snapshot:

Pet Food Market

Pet Food Market Report Coverage:

Attribute

Segment




By Food Type

  • Semi-moist Foods

  • Kibble Foods

  • Canned Foods

  • Veterinary

  • Nutritional Foods

  • Others





By Animal Type

  • Cat

  • Dog

  • Rabbit

  • Birds

  • Fish

  • Ferrets

  • Others


By Nature

  • Conventional

  • Organic


By Price

  • Premium

  • Mass



By Source Type

  • Animals

  • Plants

  • Cereals

  • Others




By Packaging

  • Stand-up pouches

  • Tin cans

  • Premade multi-layered pouches

  • Bags Roll stock

  • Corrugated boxes

  • Others


By Distribution Channel

  • Offline Platforms

  • Online Platforms








By Geography

  • North America (the US, Canada and Mexico)

  • Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe)

  • Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific)

  • South America (Brazil, Argentina, Chile, Colombia and the Rest of South America)

  • The Rest of the World (the Middle East and Africa).

COVID-19 / Ukraine Crisis - Impact Analysis: 

  • The COVID-19 pandemic has impacted the supply chain of the animal feed industry. The different animal nutrition food items, vitamins and medicines including pet pharmaceuticals were out of stock.
  • The Russia-Ukraine war has impacted the supply chain and resulted in high input prices. In the short term, rising product prices in the domestic market contributed to increased earnings for producers.

Key Takeaways:

Dominance of North America Region

Geographically, North America led the Pet Food Market with a 37.3% share of the overall market in 2022. This is due to the increasing innovation by pet food manufacturers and rising pet adoption in the region. In 2020, as per American Pet Products Association National Pet Owners Survey, 63 million households or 74.6% of all households have dogs as pets.

Canned Food Segment holds the largest market share

According to the Pet Food Market forecast, the Canned Food Segment held the largest Pet Food Market revenue of $18 billion in 2022. The segment is estimated to grow at the fastest CAGR of 9.5% during the period 2023-2030. This is due to increasing consumer desire for feeding their pets nutritional food rich in vitamins, minerals, protein, fiber and other elements that are crucial to a balanced diet.

Premade Multi-layered Pouches Segment is anticipated to grow faster

As per the Pet Food Market analysis, the Premade Multi-layered Pouches segment is estimated to grow at the fastest CAGR of 9.8% during the forecast period 2023-2030. It is due to the durable structure, puncture-resistance protection and proper closures for pet food products, driving the segment growth.

Increasing innovation by pet food manufacturers

The major competitors in the market are focusing on the launch of a number of pet food products to meet the needs of different types of animals that belong to different age groups. This is anticipated to fuel the expansion of the pet food industry. For instance, In November 2020, Nestle Purina introduced pet animal food that builds on alternative proteins to make better use of global resources. The range includes insects and plant proteins from millet and fava beans.

Rising health awareness among customers toward the organic product for pets

Customers are now more aware of the ingredients in their pet food. The market for organic pet food is increasing rapidly as a result of pet owners' growing attention to the health and welfare of their pets. The increasing number of health problems affecting pets has influenced pet owners to choose organic pet food over conventional options. These factors are contributing to the key Pet Food Market trends during the forecast period. In 2020, organic pet food consumption was worth $22 billion.

Imposition of strict regulations hamper market growth

Pet food comes with some of the strictest regulations out there, especially in western markets. Pet animal products are strictly examined in developed markets at every stage from the ingredients used in food preparation to their sales and marketing. The high stringency involved with commercialization is one of the major factors hampering the growth of the pet food industry.

Pet Food Market: Market Share (%) by Region, 2022

  Pet Food Market

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Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Pet Food Market. The 10 key companies in this industry are: 

  1. Mars Pet care, Inc. (PEDIGREE®, NUTRO)      
  2. General Mills (Chex, Lucky Charms)
  3. Nestle Purina Pet Care (Purina ONE®, Purina® Pro Plan®)    
  4. The J.M. Smucker Company (Meow Mix®, Rachael Ray®)
  5. Hill’s Pet Nutrition (Hill's® Science Diet®, Prescription Diet®)
  6. Diamond Pet Foods (Diamond V®, DIAMOND PRO89)         
  7. Simmons Pet Food (Twin Pet, Strongheart)
  8. Global Pet Care (DreamBone, Good 'n' Fun)
  9. Agrolimen SA (Advance Junior Maxi, Ultima Leche)
  10. Deuerer (Katze, Wau)

Scope of Report:

Report Metric

Details

Base year considered

2022

Forecast period

2023–2030

CAGR

Growing at the rate of 8.4%

Market Size

90 billion USD

Segments covered

Food Type, Animal Type, Nature, Price, Source Type, Packaging, Distribution Channel and Region




Geographies covered

North America (the US, Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest of the World (the Middle East and Africa).






Key Market Players

  1. Mars Pet care, Inc.

  2. General Mills

  3. Nestle Purina Pet Care

  4. The J.M. Smucker Company

  5. Hill’s Pet Nutrition

  6. Diamond Pet Foods

  7. Simmons Pet Food

  8. Global Pet Care

  9. Agrolimen SA

  10. Deuerer


Frequently Asked Questions:

Q1. What is the growth rate of the Pet Food Market during the forecast period?
The Pet Food Market is estimated to grow at a CAGR of 8.4% during the forecast period 2023-2030.

Q2. What is the predicted growth of the Pet Food Market size from 2022 to 2030?
The Global Pet Food Market size is estimated at $47 billion in 2022. It is projected to reach $90 billion by 2030.

Q3. What are the leading market players in the Pet Food Market?
Mars Pet care, Inc., General Mills, Nestle Purina Pet Care, The J.M. Smucker Company and Hill’s Pet Nutrition are some of the leading market players in the Pet Food Market.

Q4. What are the major trends that would shape the future market?
The humanization of pets, the growing popularity of e-commerce stores and the increasing preference for premium services are some of the key trends that would shape the future of the Pet Food Market.

Q5. What are the driving factors and opportunities in the market?
The growing significance of Pet Food and the rising health awareness of customers towards organic products for their pets are set to drive the market and create more opportunities for it.

Relevant Reports:

Pet Food Packaging Market - Industry Analysis, Market Size, Share, Trends, Distribution Channel Analysis, Growth and Forecast Analysis
Report Code: CMR 0175

Pet Food Ingredient Market - Industry Analysis, Market Size, Share, Trends, Distribution Channel Analysis, Growth and Forecast Analysis
Report Code: FBR 0183

Pet Food Processing Market - Industry Analysis, Market Size, Share, Trends, Distribution Channel Analysis, Growth and Forecast Analysis
Report Code: FBR 27316

For more Consumer Products and Services Market reports, please click here

1. Pet Food Market Overview
    1.1 Definitions and Scope
2. Pet Food Market - Executive Summary
3. Pet Food Market – Market Landscape
    3.1 Company Benchmarking - Key Companies
    3.2 Key Company Financial Analysis
    3.3 Market Share Analysis - Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis (Comparison of General Price Offerings in the Market)
4. Pet Food Market – Startup Company Scenario (Premium)
    4.1 Investment
    4.2 Revenue
    4.3 Venture Capital and Funding Scenario
5. Pet Food Market – Market Entry Scenario Premium (Premium)
    5.1 Regulatory Scenario
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Pet Food Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porter's Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Pet Food Market – Strategic Analysis
    7.1 Value Chain Analysis  
    7.2 Opportunities Analysis
    7.3 Market Life Cycle Analysis
8. Pet Food Market – by Food Type (Market Size – $Million/$Billion) 
    8.1 Semi-moist Foods
    8.2 Kibble Foods
        8.2.1 Biscuits
        8.2.2 Snacks
        8.2.3 Flaked Cereals
        8.2.4 Shaped Pellets
        8.2.5 Others
    8.3 Canned Foods
        8.3.1 Salmon
        8.3.2 Tuna
        8.3.3 Shrimp
        8.3.4 Others
    8.4 Veterinary
    8.5 Nutritional Foods
    8.6 Others
9. Pet Food Market – by Animal Type (Market Size – $Million/$Billion) 
    9.1 Cat
    9.2 Dog
    9.3 Rabbit
    9.4 Birds
    9.5 Fish
    9.6 Ferrets
    9.7 Others
10. Pet Food Market – by Nature (Market Size – $Million/$Billion) 
    10.1 Conventional
    10.2 Organic
11. Pet Food Market - by Price (Market Size - $Million/Billion)
    11.1 Premium
    11.2 Mass
12. Pet Food Market - by Source Type (Market Size - $Million/Billion)
    12.1 Animals
    12.2 Plants
    12.3 Cereals
    12.4 Others
13. Pet Food Market - by Packaging (Market Size - $Million/Billion)
    13.1 Stand-up pouches
    13.2 Tin cans
    13.3 Premade multi-layered pouches
    13.4 Bags Roll stock
    13.5 Corrugated boxes
    13.5 Others
14. Pet Food Market - by Distribution Channel (Market Size - $Million/Billion)
    14.1 Offline Platforms
        14.1.1 Hypermarkets/Supermarkets
        14.1.2 Speciality Pet Food Stores
        14.1.3 Others
    14.2 Online Platforms  
15. Pet Food Market - by Geography (Market Size - $Million/Billion)
    15.1 North America
        15.1.1 The US
        15.1.2 Canada
        15.1.3 Mexico
    15.2 Europe
        15.2.1 Germany
        15.2.2 France
        15.2.3 The UK
        15.2.4 Italy
        15.2.5 Spain
        15.2.6 Russia
        15.2.7 The Rest of Europe
    15.3 Asia-Pacific
        15.3.1 China
        15.3.2 Japan
        15.3.3 South Korea
        15.3.4 India
        15.3.5 Australia & New Zealand
        15.3.6 The Rest of Asia-Pacific
    15.4 South America
        15.4.1 Brazil
        15.4.2 Argentina
        15.4.3 Chile
        15.4.4 Colombia
        15.4.5 The Rest of South America
    15.5 The Rest of The World
        15.5.1 The Middle East
        15.5.2 Africa
16. Pet Food Market - Market Entropy
    16.1 New product launches
    16.2 M&As, collaborations, JVs and partnerships
17. Pet Food Market – Industry Competition Landscape (Premium)
    17.1 Market Share Analysis
        17.1.1 Market Share by Food Type – Key Companies
        17.1.2 Market Share by Country – Key Companies
        17.1.3 Market Share by Region – Key Companies
    17.2 Competition Matrix
    17.3 Best Practices for Companies
18. Pet Food Market – Key Company List by Country Premium (Premium)
19. Pet Food Market - Company Analysis
    19.1 Company 1
    19.2 Company 2
    19.3 Company 3
    19.4 Company 4
    19.5 Company 5
    19.6 Company 6
    19.7 Company 7
    19.8 Company 8
    19.9 Company 9
    19.10 Company 10
* "Financials would be provided to private companies on best-efforts basis." 
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LIST OF TABLES

LIST OF FIGURES

1.US Pet Food Market Revenue, 2019-2024 ($M)
2.Canada Pet Food Market Revenue, 2019-2024 ($M)
3.Mexico Pet Food Market Revenue, 2019-2024 ($M)
4.Brazil Pet Food Market Revenue, 2019-2024 ($M)
5.Argentina Pet Food Market Revenue, 2019-2024 ($M)
6.Peru Pet Food Market Revenue, 2019-2024 ($M)
7.Colombia Pet Food Market Revenue, 2019-2024 ($M)
8.Chile Pet Food Market Revenue, 2019-2024 ($M)
9.Rest of South America Pet Food Market Revenue, 2019-2024 ($M)
10.UK Pet Food Market Revenue, 2019-2024 ($M)
11.Germany Pet Food Market Revenue, 2019-2024 ($M)
12.France Pet Food Market Revenue, 2019-2024 ($M)
13.Italy Pet Food Market Revenue, 2019-2024 ($M)
14.Spain Pet Food Market Revenue, 2019-2024 ($M)
15.Rest of Europe Pet Food Market Revenue, 2019-2024 ($M)
16.China Pet Food Market Revenue, 2019-2024 ($M)
17.India Pet Food Market Revenue, 2019-2024 ($M)
18.Japan Pet Food Market Revenue, 2019-2024 ($M)
19.South Korea Pet Food Market Revenue, 2019-2024 ($M)
20.South Africa Pet Food Market Revenue, 2019-2024 ($M)
21.North America Pet Food By Application
22.South America Pet Food By Application
23.Europe Pet Food By Application
24.APAC Pet Food By Application
25.MENA Pet Food By Application