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Pet Food Market

Pet Food Market Size, Share & Trends Analysis Report

Pet Food Market Size, Share & Trends Analysis By Type Of Animal (Dog Foods, Cat Foods, Other Pet Foods), By Form (Dry Pet Food, Wet Pet Food, Dog Treats, And Mixers), By Distribution Channel (Hypermarkets, Specialized Pet Shops, Internet Sales, Others), By Type Of Ingredients (Animal Derivatives, Plant Derivatives, Synthetic ) Based On Region, And Segment Forecasts, 2022- 2028

Published
Report ID : BMRC 1333
Number of pages : 300
Published Date : Nov 2022
Category : Food And Beverage
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Global Pet Food Market is valued at USD 95.61 Billion in 2021 and is expected to reach USD 132.76 Billion by 2028 with a CAGR of 4.80% over the forecast period.

Global Pet Food Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2028: Increasing trend of pet humanization, rising demand for premium and organic pet food are some of the major factors driving the growth of the Global Pet Food Market.

Scope of Pet Food Market

Pet food is plant-based or animal-based food specially prepared and intended for consumption by pets. It is usually sold in pet stores and supermarkets and is usually specific to the type of animal, such as dog food or cat food. Most of the meat used for animals is a by-product of the human food industry and is not considered ""humane grade"". Pet food ingredients can be derived from animals and may include beef, pork, lamb, chicken, and fish or plant products such as corn, wheat, soy, sorghum, peas, potatoes, and barley. Vitamins, minerals, and amino acids can also be added to ensure all the right nutrients are available for the pet's needs.

The COVID-19 pandemic has shown a mixed impact on the growth of the global pet food market. Due to restrictions on the movement of raw materials, the pet food industry initially suffered in terms of supply and cash flow. On the other hand, demand for the pet food segment saw steady growth in many parts of the world as people adopted more pets amid the growing desire for companionship during the lockdown. To meet this demand, market players shifted their focus from retail stores to e-commerce platforms and increased their investment in developing their websites. And this led to a huge increase in demand from consumers as new sales methods were adopted in the market. It is likely to increase in the coming period as well.

The global pet food market is segmented on the animal type, product type, ingredient type, distribution channel, region & country level. Based on animal type, the global pet food market is segmented into birds, dogs, cats, and others. By product type, the global pet food market is segmented into organic products, wet pet food, dry pet food, veterinary diets, treats & snacks. By ingredient type, the global pet food market is segmented into cereals & cereal derivatives, animal-derived, plant-derived, and others. By distribution channel, the global pet food market is segmented into supermarkets/hypermarkets, online channels, specialized pet shops, and others.

The regions covered in the global pet food market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global pet food is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.

Pet Food Manufacturers:

Some major key players for pet food market report cover prominent players like -

  • Hill’s Pet Nutrition
  • Blue Buffalo Pet Products, lnc
  • WellPet LLC
  • Nestle Purnia
  • The Hartz Moutain
  • General Mills lnc.
  • Schell and Kameter lnc.
  • The J. M. Smucker Company
  • Diamond Pet Food
  • Nutriara Alimentos Ltd.
  • Royal Canin
  • Del Monte Food lnc.
  • Colgate-Palmolive Company
  • Mars Incorporated
  • PetGuard
  • Harringtons
  • Simmon Pet Food lnc.
  • Pllie Pet lnc.
  • Heristo AG
  • Total Alimentos SA
  • Lupus Alimentos
  • others

Pet Food Market Segmentation

By Animal Type:

  • Birds
  • Dogs
  • Cats
  • Others

By Product Type:

  • Organic Products
  • Wet Pet Food
  • Dry Pet Food
  • Veterinary Diets
  • Treats & Snacks

By Ingredient Type:

  • Cereals & Cereal Derivatives
  • Animal-derived
  • Plant-derived
  • Others

By Distribution Channel:

  • Online Channel
  • Specialized Pet Shops
  • Supermarkets/Hypermarkets
  • Others

By Regional & Country Level:

  • North America

    • U.S.
    • Canada
  • Europe

    • U.K.
    • France
    • Germany
    • Italy
  • Asia Pacific

    • China
    • Japan
    • India
    • Southeast Asia
  • Latin America

    • Brazil
    • Mexico
  • Middle East and Africa

    • GCC
    • Africa
    • Rest of Middle East and Africa

Global Pet Food Market Dynamics: -

One of the major factors in the growth of the pet food market is the increasing trend of pet humanization. Pet humanization is poised to continue selling pet products and services. This ranges from physical services like grooming and daycare to e-commerce items like food and toys. Central to these trends is technology, especially in the post-pandemic environment. Pet humanization is becoming a globally accepted term in the pet industry as more pet owners are willing to give their pets human-like products or experiences. The rapid pace of economic and social change is driving pet food market trends. The new generation is becoming more isolated, and as a result, pets are treated as companions, leading to the growth of the market. According to the American Pet Products Association (APPA), around 70% of US households owned a pet in 2021, equating to 90.5 million households. Additionally, the trend towards the humanization of pets has increased health awareness and created a demand for sugar free pet foods, grains, dyes, and other chemical additives. Thus, increasing pet humanization is expected to boost the pet food industry.

Moreover, the growing innovation by pet food manufacturers is also supplementing the pet food market's growth. Major players in the global market are focusing on launching various pet food products to cater to the needs of different types of animals of different age groups. In recent years, General Mills, Nestle, and Mars Inc. have launched premium food products to capture the attention of consumers and cater to growing pet needs. For instance, as per the news published on November 5th, 2020, Nestlé Purina launched pet foods based on alternative proteins to make better use of the planet's resources. The new line includes plant proteins from insects as well as fava beans and millet. On August 6, 2022, Mars Petcare brand IAMS announced the launch of its dry cat food products in India. The launch includes IAMS' Proactive Health cat food range, which includes three types and formulations for the specific health concerns of kittens and adult cats, including a unique formula developed for kittens and their mothers. IAMS's Proactive Health cat food is formulated with the help of veterinarians and boasts chicken as the first ingredient to give cats a protein boost. Therefore, many innovations in pet food promote the growth of the pet food market.

However, stringent regulations associated with pet food may hinder the growth of the global pet food market. Despite that, the growing pet population, coupled with the rising pet-owning trend, may create more opportunities in the global pet food market.

North America Holds a Major Share in the Global Pet Food Market:

Geographically, North America is holding a major share in the global pet food market within the forecast period due to the increasing disposable income, rising demand for pet food, and growing consumer awareness regarding the beneficial impact on pet health these factors boost the pet food market. Increasing disposable income is driving the growth of the pet food market. For instance, according to the Bureau of Economic Analysis, the state's personal income will grow by 7.4 percent in 2021, up from 6.6 percent in 2020 in America. Therefore, increasing disposable income is expected to fuel the market growth over the forecast period. In addition, the rising demand for pet food is another factor supplementing the market growth in this region. For instance, as per the news published, on March 18th, 2021; Hill's Pet Nutrition has launched its successful weight management and active mobility pet food, a nutritional solution that is clinically proven to help dogs reach and maintain a healthy weight with added mobility support. Therefore, augmenting demand for pet food is intensifying the growth of the pet food market worldwide.

Europe is the fastest-growing region in the global pet food market due to the increasing pet population, rising demand for premium dog food and the presence of key players these factors boost the market. For instance, according to European Pet Food Federation (FEDIAF), in June 2022; an estimated 110.1 million cats & 89.9 million dogs were owned by households in 2020. Across the European Union, 24% of pet owners own at least one cat, while 25% of pet owners own at least one dog. Therefore, this factor is accelerating the growth of pet food market worldwide.

Global Pet Food Market Recent Developments From 2018 to 2022

Former Impossible Foods Employee Has Launched ""World’s First"" Pet Food Made from Plant-Based Meat

In 2022- Pet food startup PawCo launched its proprietary dog food made from plant-based meats. A former employee of Impossible Foods Dr., founded by Mahsa Vazin, PawCo raised seed for an undisclosed amount earlier this year. According to the brand, it has invented the world's first completely plant-based meat designed specifically for pet food. Made to taste like traditional meat, PawCo says its recipes contain all the essential amino acids, vitamins, and minerals most adult dogs need to thrive.

Kemin Nutrisurance has Launched a Functional Fiber for Pet Food in Brazil

On April 26th, 2021, in partnership with Fibervita, a food ingredient company in Brazil, Kemin Nutrisurance developed TEGRAVIA as a functional fiber for inclusion in pet food. The product's fiber is extracted from cassava, an edible root widely used in a variety of recipes in Brazilian cuisine. TEGRAVIA acts as a fiber source with prebiotic and gut health support properties and can also benefit pet food product formulations by increasing texture and starch gelatinization.

Report Analysis Details
Historical data 2015 - 2020
Forecast Period 2021 - 2028
Market Size in 2021: USD 95.61 Billion
Base year considered 2020
Forecast Period CAGR %: 4.80%
Market Size Expected in 2027: USD 132.76 Billion 
Tables, Charts & Figures: 175
Pages 200
Pet Food Companies Hill’s Pet Nutrition, Blue Buffalo Pet Products, lnc, WellPet LLC, Nestle Purnia, The Hartz Moutain, General Mills lnc., Schell and Kameter lnc., The J. M. Smucker Company, Diamond Pet Food, Nutriara Alimentos Ltd., Royal Canin, Del Monte Food lnc., Colgate-Palmolive Company, Mars Incorporated, PetGuard, Harringtons, Simmon Pet Food lnc. Pllie Pet lnc., Heristo AG and others.
Segments Covered By Type of Animal, By Form, By Distribution Channel, By Type of Ingredients
Regional Analysis North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

Key Benefits of Global Pet Food Market Report–

  • Global Pet Food Market report covers in-depth historical and forecast analysis
  • Global Pet Food Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
  • Global Pet Food Market report helps to identify opportunities in marketplace.
  • Global Pet Food Market report covers extensive analysis of emerging trends and competitive landscape.

Pet Food Trends

  • High-End Products For Pets Go Mainstream
  • New Product Categories Emerge
  • Increasing Number Of Pet Food Niches
SUMMARY
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Busines Development
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