#Pet Food Market

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Pet Food Market | A Sustainable Shift in Natural Nutrition

Research from Mars Petcare reveals that around 57% of pet owners in the UK are open to switching to plant-based pet food. Thus, opportunities thrive for functional ingredients like proteins, vitamins, and prebiotics as health-benefiting premium foods. Emphasizing this uptrend, the Global Pet Food Market, analyzed by Triton Market Research, is forecasted to grow at a CAGR of 8.12% during the period 2024-2032.

Additionally, localized production facilities help counter sizable logistics costs and import barriers, given the emerging market demand. With global pet numbers set for a definite rise, the demand for pet food is inevitable. Hence, the market is witnessing a significant shift towards sustainability to reduce the environmental impact by avoiding animal-based pet food.

Pet Food Market: Environmental Concerns Lead to Insect Protein Adoption

While meeting advanced nutritional requirements, pet food also needs to reduce its environmental footprint for future sustainability. Various studies estimate that pet food products derived from conventional meat sources generate higher greenhouse gas emissions compared to alternate proteins.

As per the USDA study on pet food emissions, beef protein in dog food is associated with almost 50 times more production emissions than plant-based protein sources. Specifically looking at methane and CO2 emissions per kg of usable protein, beef clocks in at over 50 CO2-equivalent kg, poultry around 9 kg, whereas plant proteins like peas and corn range from just 0.3-1.7 kg.

Moreover, insects such as black soldier fly larvae record under 2 kg emissions, along with boasting feed conversion efficiency 10 times higher compared to cattle. Their pre-pupae stage composition profile matches chicken meals typically used in pet foods.

Additionally, Insect protein from black soldier fly larvae also gains strong traction as an environment-friendly alternative protein replicate of traditional meat. Thus, multiple startups and VC funds entered this arena recently, looking to commercialize greener pet food solutions.

Pet Food Brands Aim for Pet Health Through Nutrition

Expanding urbanization and nuclear families influence greater pet adoption. With pets considered as family, owners increasingly seek diets that reflect nutritional standards similar to humans. This awareness of health, taste, and a balanced pet diet fuels the growth of the studied market.

Plant-based nutrients sourced from origins like quinoa, chickpeas, peas, seaweed, and lentils supplemented with amino acid additions emerge as sustainable alternatives to regular meat diets. In this regard, Mars Petcare acquired Italian plant-based pet food maker Verso Food in July 2022 to augment its capabilities.

Nestlé Purina also accelerated new product development by 75% between 2020-2022, targeting veterinary and therapeutic segments. It innovated several pet food products to provide a combination of natural prebiotic fiber, high-quality ingredients, live probiotics, etc. Their products offer several benefits along with supporting digestive health and nourishing skin for cats and dogs, respectievly.

Localization Counters Logistics Barriers

The leading pet food manufacturers are establishing localized production facilities within the developing world to target regional markets. High freight costs and substantial import duties levied earlier had posed significant barriers, capping accessibility of higher-priced imported pet foods.

Nestlé Purina provides a model case in point where 20% of its total global sales now come from developing and emerging geographic markets. It has a dedicated network of eight local pet food plants in Asia. It registered double-digit growth across Latin America and Eastern Europe markets, too.

Sustainable Way Ahead

With the global pet population estimated to surpass 1 billion by 2030, continued investments in localizing production and supply chains hold similar growth potential for established leaders and new entrants. Moreover, across regions like Asia-Pacific, Latin America and Eastern Europe, price-sensitive buyers prefer cost-effective products. Thus, local factories in these countries allow for affordably priced products catering specifically to regional volume market and middle-class demographic segments. This further enables customizing pet food options aligning with regional preferences.

FAQs

Q.1) How is the rise of e-commerce impacting the distribution of pet food?

E-commerce is transforming the distribution landscape by offering convenience, a wider product selection, and direct-to-consumer sales channels for pet food manufacturers.

Q.2) What are the opportunities for innovation and sustainability in the global pet food market?

Opportunities include developing eco-friendly packaging, introducing novel ingredients, leveraging advanced manufacturing technologies, and addressing pet-specific health concerns through innovative formulations.

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Pet Food Market Trends: Future Demand, Share, Growth Opportunities, and Outlook 2036

Research Nester’s recent market research analysis on “Pet Food Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global pet food market in terms of market segmentation by pet, form, nature, source, distribution and by region. 

Growing Demand for Customized Pet Food to Boost the Growth of Global Pet Food Market

The global market for pet food is set to rise on account of growing demand for customized pet food. Customized pet food has grown increasingly popular in established regions, and in the upcoming year, it will likely expand across emerging countries additionally. This is because of increased pet owner awareness regarding feeding their animals based on their needs, which include things such as weight, age, sex, breed, and overall health. This further reduces the likelihood of allergies as well as additional health risks brought on by feeding pets improper food. As a result, pet food item customization is expected to increase dramatically. 

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Moreover, organic pet food consists of natural ingredients which do not include pesticides, synthetic fertilizers, artificial coloring, antibiotics, and chemical by-products. These natural products provide various health benefits for pets, such as reduced lower risk of skin diseases & allergies, and others. Additionally, natural pet foods can be efficiently digested by pets since they include large protein sources. Natural food also enables pets to have proper bowel movements. Therefore, the market demand for organic pet food is estimated to rise.  

Some of the major growth factors and challenges that are associated with the growth of the global pet food market are:

Growth Drivers:

Rising Demand for Customized Pet Food

Growing Production of Organic Food

Challenges:

The components required to produce pet food, which includes grains, meat, and veggies, are very expensive. Furthermore, different environmental problems, expanding supply chain disruptions, and global market dynamics are just a few examples that are expected to raise pet food costs and have a negative influence on manufacturers' profitability. As a result, prominent players now face even more competition. It is therefore anticipated that the pet food market will be hampered.

By form, the market for pet food is segmented into wet, semi-moist, and dry. Out of these segments, the dry segment is predicted to gather the highest revenue of over USD 145 billion over the forecast period. This growth is set to be dominated owing to the fact that they are easy to store and lead to the least amount of mess when served. Moreover, dry food provides crunch and chewing to the pets, which further regulates their general health. Additionally, dry food has a longer shelf life in comparison to wet food. Furthermore, the dry food price is also low, hence, a large number of the general population prefer buying it. Hence, the market demand for dry food is estimated to rise over the coming years.

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By region, the North America market for pet food is predicted to gather the highest share in the market of about 30% over the coming years. This growth of the market is projected to be encouraged by the growing urban population. Moreover, the e-commerce website site is surging in this region, which is additionally encouraging the number of options for the products. Therefore, the market for pet food is growing in this region.

This report also provides the existing competitive scenario of some of the key players of the global pet food market which includes company profiling of J.M. Smucker Company, Wellness Pet, LLC., Affinity Petcare SA, Agroindustrias Baires, Agrolimen SA, BRF Global, Canidae LLC, Diamond Pet Foods, General Mills Inc., Heristo AG, and others.

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Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.

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Pet Food Market Size, Share, Latest Trends, and Growth Research Report 2024-2036

A comprehensive analysis of the “Pet Food Market Size, Share, Latest Trends, and Growth Research Report 2024-2036” provides an accurate overview and thorough analysis of the market industries in the present and the future. This report provides a comprehensive overview of the market, including current market trends, future projections, and an in-depth analysis of the major players in the industry. It provides a comprehensive overview of the market, including current market trends, future projections, and an in-depth analysis of the major players in the industry.

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Report findings provide valuable insights into how businesses can capitalize on the opportunities provided by these dynamic market factors. It also provides a comprehensive overview of the major players in the industry, including their product offerings, contact and income information, and value chain optimization strategies. Furthermore, it offers an in-depth analysis of the leading businesses in the industry based solely on the strength of their business plans, product descriptions, and business strategies.

Key Findings

Pet Food Market has experienced significant growth in recent years, driven by factors such as increasing consumer demand and technological advancements.

The market segmentation analysis revealed several key segments, including Pet, Form, Nature, Source, Distribution Channel each with unique characteristics and growth potential.

Regional analysis highlighted the strong performance of Pet Food Market in regions such as North America, Europe, and Asia-Pacific, with emerging markets showing promising growth opportunities.

Analyzing the Pet Food Market

A thorough understanding of the Pet Food Market will provide businesses with opportunities for growth such as customer acquisition, enhancements to their services, and strategic expansions.

By incorporating market intelligence into their operations, businesses can anticipate changes in the economy, assess the effect these factors may have on their operations, and create plans to counteract any negative effects.

Market intelligence helps organizations stay ahead of the curve through insights into consumer behavior, technological advancements, and competitive dynamics.

Using Pet Food Market data can provide organizations with an edge in the competitive market and establish prices and customer satisfaction levels.

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In a dynamic market environment, business validation helps companies develop business plans and assures their long-term survival and success.

What are the most popular areas for Pet Food Market?

The North American continent includes Canada, Mexico, and the United States.

The European Union is made up of the United Kingdom, France, Italy, Germany, the Republic of Turkey, and Russia.

The Asia-Pacific region is comprised of China, Japan, Korea, India, Australia, Vietnam, Thailand, Indonesia, and Malaysia.

The region of Latin America, which includes Brazil, Argentina, and Columbia

In addition to Africa, the Middle East includes South Africa, Egypt, Nigeria, Saudi Arabia and the United Arab Emirates.

Report highlights include:

There is a 360-degree synopsis of the industry in question in this study, which encompasses all aspects of the industry.

The report presents numerous pricing trends for the keyword.

Additionally, the report includes some financial data about the companies included in the competitive landscape.

The study enumerates the key regulatory norms governing the keyword market in developed and developing economies.

Additionally, the keyword report provides definitions of the market terms referred to in the document for the sake of convenience.

Future Potential

In the keyword research report, various primary and secondary sources are used to describe the methodology of conceptualizing the study. It has been discussed in the study what the scope of the report is and what elements it contains in terms of the growth spectrum of the keyword. The document also includes financial data of the companies profiled, along with the current price trends of the keyword.

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Pet Food Market Is Expected To Witness Higher Demands Till 2030

The global pet food market size is expected to reach USD 139.29 billion to expand at a CAGR of 4.4% from 2024 to 2030 as per the new report by Grand View Research, Inc. The growth is majorly driven by rising demand for organic and natural pet food products due to its numerous nutritional properties.

The global pet food products have witnessed substantial demand over the past few years owing to the advent of online purchasing and notable contribution of e-commerce in shaping and strengthening the industry. Trends influencing the growth of this industry include launches of new products, online private brands, treats, and novel technologies.

Consumers do not prefer traditional products for their pet’s consumption. They try to comprehend the ingredients list and usually opt for healthier available alternative in the market. Consumers prefer made-to-order, frozen, and fresher meals for their pets. Although these types are comparatively expensive, customers are willing to pay more for healthy items for the consumption for their household pets.

The outbreak of COVID-19, which has led to the closure of factories, production units, and manufacturing sites globally, there has been significant decline in the global demand for pet food ingredients and raw materials. Due to the ongoing pandemic, several production plants have been completely or partially shut down while others are running at reduced rates, which may result in a supply-demand gap globally.

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Pet Food Market Report Highlights

Dog food accounted for the fastest growth rate of more than 5.1%, owing to the increased awareness regarding dog health and benefits of healthy and balanced dog diet among the dog owners

Dry Cat food type accounted for the fastest growth rate due to its benefits such as cost-effectiveness, ease and convenience of application, and long shelf life. Also, it allows free feeding to the cats which has increased their demand from cat-owners, where the cat prefers to consume round the clock, instead of feeding at specific mealtimes in a day

Pet food manufacturers are extremely focused on enhancing & managing supply efficiency and ensuring their capability to compete with other players by addressing sourcing requirements, improving operating efficiency, reducing lead time, and increasing productivity. Increasing consumer awareness concerning toxicity of synthetic products and the side- effects observed in pets due to the consumption of such products have instigated several manufacturers in developed economies to produce organic pet foods

There are number of people that suffer from pet allergies and hence do not prefer keeping a household pet. This is because of the presence of indoor allergens such as animal dander, molds, and dust mite dropping. There have been numerous cases of people suffering from diseases like asthma due to dog and cat allergies. This factor can be an important restraint of the market.

Pet Food Market Segmentation

Grand View Research has segmented the global pet food market report based on pet type, region:

Pet Food Pet Type Outlook (Revenue, USD Million; Volume, Kilotons; 2018 - 2030)

Dog

Wet Food

Dry Food

Snacks/Treats

Cat

Wet Food

Dry Food

Snacks/Treats

Others

Pet Food Regional Outlook (Revenue, USD Millions; Volume, Kilotons; 2018 - 2030)

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

France

Italy

Spain

Poland

Ukraine

Russia

Turkey

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Vietnam

Thailand

Australia

Central & South America

Brazil

Argentina

Middle East & Africa

Middle East

South Africa

List of Key Players of Pet Food Market

The J.M. Smucker Company

Nestle Purina

Mars, Incorporated

LUPUS Alimentos

Total Alimentos

Hill’s Pet Nutrition, Inc.

General Mills Inc.

WellPet LLC

The Hartz Mountain Corporation

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Trends to Leverage in the Global Pet Food Market 2023

Pet animal adoption has escalated majorly post 2020, mainly as a result of COVID-19-induced loneliness. Statistics suggest that 85 million families across the world own some kind of pet. This has consequently increased the sales of food products for these companion animals, which is expected to propel the global pet food market at a CAGR of 7.91% in the forecast period 2023-2030.

An interesting trend driving this growth is that of pet humanization, as owners are increasingly treating their pets like family members. And thus, pet care trends now mirror human trends, especially the soaring demand for high-quality food. Also, due to heightened awareness of their pets’ nutritional needs, owners are willing to spend more on health-focused and premium quality food products.

Premiumization Trend underpins Growth Prospects

As the pet humanization trend gathers momentum and disposable income rises, owners are more likely to splurge on luxurious products for their pets. According to FEDIAF, Europeans spent over $20.3 billion on pet food, supplies, and services in 2021, which is reflective of the increasing pet ownership in the region. Increased spending by buyers is expected to drive the Europe pet food market at a CAGR of 7.41% over the forecast period.

Premium pet food is sourced from superior quality ingredients, and has high protein content to cater to the taste buds and health needs of carnivores like cats and dogs. To cater to its growing demand, manufacturers are coming up with innovative products that are free of antibiotics, synthetic hormones, artificial colors & flavors, preservatives, etc.

Japan-based Inaba Foods Co Ltd is one such market player, which has gained prominence as one of the leading brands offering premium dry and wet cat food. Furthermore, several manufacturers have expanded their premium product portfolio with distinct offerings for various breeds, kittens, puppies, and lactating mothers. Organic and vegan pet foods, as well as gourmet and artisanal pet foods, have also emerged as favorites, in line with the premiumization trend.

Physical v/s Digital Stores: How are Distributors Competing for Buyer Attention?

While e-commerce sites have always been a reliable purchasing medium, the pandemic brought about a paradigm shift in the way people shop. Due to the easy availability of pet food online, the e-commerce distribution channel is anticipated to witness the fastest CAGR of 8.89% during 2023-2030.

In addition to convenience and comfort, online shopping allows buyers to thoroughly research products and compare costs & benefits before making a purchase. With the help of established e-com platforms like Amazon and Chewy, several pet food providers have been able to increase the sales and subscriptions for their products.

However, this has placed a degree of pressure on physical pet food outlets, such as supermarkets and specialty stores, thus pushing them to innovate. In June 2021, Australian retail giant Coles rolled out a “self-serve doggy treat bar” at its physical stores, in a bid to attract customers in light of the growing online competition.

The humanization and premiumization trends are encouraging pet owners to turn to retail stores, especially pet superstores, as they offer specialized care and products that meet increasingly segmented, high-end demand. Store-based distribution channels dominate the market, with the highest revenue of $94947.82 million in 2022.

Countering Challenges with Targeted Solutions

Based on a 2018-2019 study by the American Pet Products Association, an estimated 56 million cats and 50 million dogs are overweight. The alarming statistics are a result of factors like overindulgence of certain foods and treats; sedentary lifestyles of owners and their pets; inappropriate nutritional advice from veterinarians; and a failure to acknowledge the seriousness of even slightly extra body fat.

However, the lack of transparency on nutritional labels of products is also a major contributor to the growing obesity epidemic, which can cause several chronic illnesses. In this regard, therapeutic diets and nutritional supplements are recommended, as their intake ensures adequate nutrient balance for optimum health of pet animals. Supplements containing vitamins, probiotics, fish oil, and even CBD, are becoming increasingly popular, which is contributing to the global animal nutrition market growth.

Call to Sustainability – Manufacturers Aim to Lower their Carbon Pawprint

Humanization has enabled pet owners to have a more hands-on approach towards their fur babies, which has resulted in them becoming more conscious of their purchase decisions. This has enlarged the spotlight on sustainability and compelled market players to rethink all aspects of their offerings, from ingredient sourcing to manufacturing to packaging.

Sustainable packaging is particularly witnessing high demand. And realizing its growth potential, several players in the global pet food packaging market have started offering sustainable solutions. For example, in November 2020, US-based pet food giant, Mars Petcare Ltd, announced its decision to incorporate recycled polypropylene plastic for packaging some of its popular products.

Premium brands stand to largely benefit from the rising ethical consciousness and sustainability demands of pet parents. As the trends of pet humanization and premiumization evolve further in the years to come, the companies that stay informed and adapt to these changes will shape the outlook of the pet food market.

FAQs:

Q 1) What are the revenue estimates for the global market?

Estimates by Triton Market Research suggest that, the global pet food market, which was valued at $124579.70 million in 2022, will reach a revenue of $227690.72 million by 2030.

Q 2) Which are the food types covered in the market report?

Dry food, wet food, and other food types are covered in the market report.

Q 3) Which are the other animals studied in the animal type segment?

Other animals include pets like birds, rabbits, tortoises, lizards, and fish.

[tritonmarketresearch]

Trends to Leverage in the Global Pet Food Market 2023

Pet animal adoption has escalated majorly post 2020, mainly as a result of COVID-19-induced loneliness. Statistics suggest that 85 million families across the world own some kind of pet. This has consequently increased the sales of food products for these companion animals, which is expected to propel the global pet food market at a CAGR of 7.91% in the forecast period 2023-2030.

An interesting trend driving this growth is that of pet humanization, as owners are increasingly treating their pets like family members. And thus, pet care trends now mirror human trends, especially the soaring demand for high-quality food. Also, due to heightened awareness of their pets’ nutritional needs, owners are willing to spend more on health-focused and premium quality food products.

Premiumization Trend underpins Growth Prospects

As the pet humanization trend gathers momentum and disposable income rises, owners are more likely to splurge on luxurious products for their pets. According to FEDIAF, Europeans spent over $20.3 billion on pet food, supplies, and services in 2021, which is reflective of the increasing pet ownership in the region. Increased spending by buyers is expected to drive the Europe pet food market at a CAGR of 7.41% over the forecast period.

Premium pet food is sourced from superior quality ingredients, and has high protein content to cater to the taste buds and health needs of carnivores like cats and dogs. To cater to its growing demand, manufacturers are coming up with innovative products that are free of antibiotics, synthetic hormones, artificial colors & flavors, preservatives, etc.

Japan-based Inaba Foods Co Ltd is one such market player, which has gained prominence as one of the leading brands offering premium dry and wet cat food. Furthermore, several manufacturers have expanded their premium product portfolio with distinct offerings for various breeds, kittens, puppies, and lactating mothers. Organic and vegan pet foods, as well as gourmet and artisanal pet foods, have also emerged as favorites, in line with the premiumization trend.

Physical v/s Digital Stores: How are Distributors Competing for Buyer Attention?

While e-commerce sites have always been a reliable purchasing medium, the pandemic brought about a paradigm shift in the way people shop. Due to the easy availability of pet food online, the e-commerce distribution channel is anticipated to witness the fastest CAGR of 8.89% during 2023-2030.

In addition to convenience and comfort, online shopping allows buyers to thoroughly research products and compare costs & benefits before making a purchase. With the help of established e-com platforms like Amazon and Chewy, several pet food providers have been able to increase the sales and subscriptions for their products.

However, this has placed a degree of pressure on physical pet food outlets, such as supermarkets and specialty stores, thus pushing them to innovate. In June 2021, Australian retail giant Coles rolled out a “self-serve doggy treat bar” at its physical stores, in a bid to attract customers in light of the growing online competition.

The humanization and premiumization trends are encouraging pet owners to turn to retail stores, especially pet superstores, as they offer specialized care and products that meet increasingly segmented, high-end demand. Store-based distribution channels dominate the market, with the highest revenue of $94947.82 million in 2022.

Countering Challenges with Targeted Solutions

Based on a 2018-2019 study by the American Pet Products Association, an estimated 56 million cats and 50 million dogs are overweight. The alarming statistics are a result of factors like overindulgence of certain foods and treats; sedentary lifestyles of owners and their pets; inappropriate nutritional advice from veterinarians; and a failure to acknowledge the seriousness of even slightly extra body fat.

However, the lack of transparency on nutritional labels of products is also a major contributor to the growing obesity epidemic, which can cause several chronic illnesses. In this regard, therapeutic diets and nutritional supplements are recommended, as their intake ensures adequate nutrient balance for optimum health of pet animals. Supplements containing vitamins, probiotics, fish oil, and even CBD, are becoming increasingly popular, which is contributing to the global animal nutrition market growth.

Call to Sustainability – Manufacturers Aim to Lower their Carbon Pawprint

Humanization has enabled pet owners to have a more hands-on approach towards their fur babies, which has resulted in them becoming more conscious of their purchase decisions. This has enlarged the spotlight on sustainability and compelled market players to rethink all aspects of their offerings, from ingredient sourcing to manufacturing to packaging.

Sustainable packaging is particularly witnessing high demand. And realizing its growth potential, several players in the global pet food packaging market have started offering sustainable solutions. For example, in November 2020, US-based pet food giant, Mars Petcare Ltd, announced its decision to incorporate recycled polypropylene plastic for packaging some of its popular products.

Premium brands stand to largely benefit from the rising ethical consciousness and sustainability demands of pet parents. As the trends of pet humanization and premiumization evolve further in the years to come, the companies that stay informed and adapt to these changes will shape the outlook of the pet food market.

[tritonmarketresearch]

Increased Spending on Premium Products to Drive Global Pet Food Market

Triton Market Research presents the ‘Global Pet Food Market’ report sectioned by Animal Type (Cats {Wet Cat Food, Dry Cat Food, Treats & Mixes for Cats}, Dogs {Wet Dog Food, Dry Dog Food, Treats & Mixes for Dogs}, Other Animal Types), by Food Type (Wet Food, Dry Food, Other Food Types), by Distribution Channel (Store-based, Veterinary, E-commerce, Other Distribution Channels), and by Regional Outlook (Europe, Middle East and Africa, Latin America, Asia-Pacific, North America).

The report further discusses the Market Summary, Industry Outlook (Impact Analysis, Porter’s Five Forces Analysis, Market Maturity Analysis, Industry Components, Regulatory Framework, Key Buying Impact Analysis, Key Market Strategies, Drivers, Challenges, Opportunities, Analyst Perspective), Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2023-2030).

Triton Market Research’s report implies that the global pet food market will grow with a CAGR of 7.91% in the forecast years between 2023 and 2030.

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 The expansion of the pet food market is largely driven by the rising number of D2C pet brands & start-ups, as well as owners’ willingness to pay for premium pet food products. The rise in people’s disposable income has enabled them to splurge on premium food. This is also supported by the fact that many owners do not consider spending on pets as a luxury expense and consider them as part of their family.

Also, with the growing awareness, pet owners are finally beginning to understand how their pets’ dietary habits affect their health. Many a time, the nutrition information provided by pet food manufacturers on their product labels may be deceptive. Besides, several pet foods available in the market today contain substances like carbs, sugar, and yeast, which can cause weight gain. Factors such as these affect the pet food market’s growth prospects.

The market in the Asia-Pacific is estimated to grow at the fastest rate globally, over the forecasted period. The regional market is expected to witness strong growth, benefiting from the rise in the pet population and consumers’ increasing focus on pet welfare.

Leading names operating in the pet food market include Nestle Purina Petcare, Diamond Pet Foods, Blue Buffalo Pet Products Inc, Hill’s Pet Nutrition Inc, Champion Petfoods LP, Farmina Pet Foods, Unicharm Corporation, Mars Petcare Ltd, Inaba Foods Co Ltd, and Wellness Pet Company.

The level of industry rivalry is high in the studied market. Established players, such as Nestle Purina Petcare, Mars Petcare Ltd, and Hill’s Pet Nutrition Inc, account for the lion’s share of the market. However, competitors have an advantage due to pricing and novel ingredients. These leading companies have expanded their product lines and increased their emphasis on R&D, which has helped them strengthen their market position. Moreover, several market giants have specialized and improved the scope of their product ranges by acquiring businesses already existing in these areas.

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Phone: +44 7441 911839

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Growth of Pet Food Market

Pet Foods Market size is projected to reach USD 104,178 million by 2028 from an estimated USD 76,553 million in 2021, growing at a CAGR of 4.5% globally.

Pet food is animal feed intended for consumption by pets. Typically sold in pet stores and supermarkets, it is usually specific to the type of animal, such as dog food or cat food. Most meat used for animals is a byproduct of the human food industry, and is not regarded as "human grade". Pet food Market report covers the detailed analysis on current and upcoming market trends, company market shares, market projections, competitive benchmarking, competition mapping, and in-depth research of the most significant sustainability strategies and their impact on industry growth and competition.

Rise in per capita disposable income, increase in trend of nuclear families, and rapid increase in humanization are some of the major factors driving the market growth. Packaged nutritional food is predominately adopted by pet parents to provide sufficient nutrients to their pets. Dogs as pets are more popular than other animals, such as cats, fishes, birds, and reptiles. This creates a lucrative opportunity for the pet food manufacturers to come up with wide array of dog food products.