Pet Foods - Global Strategic Business Report

The global market for Pet Foods was valued at US$132.6 Billion in 2024 and is projected to reach US$177.1 Billion by 2030, growing at a CAGR of 4.9% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Pet Foods Market - Key Trends and Drivers Summarized

The global pet food market has seen remarkable growth over the past decade, driven by an increasing trend in pet ownership and the humanization of pets. This market encompasses a wide range of products, including dry food, wet food, treats, and nutritional supplements for various pets like dogs, cats, birds, fish, and small mammals. The evolution of pet food is marked by a shift from providing basic nutrition to products that address specific health needs, age-related requirements, and dietary preferences of pets. Pet owners are now more aware of the nutritional content and quality of ingredients in their pets' food, leading to a heightened demand for high-quality, organic, and natural pet food products. This trend is further supported by the rising disposable incomes of pet owners, which allows them to spend more on premium pet food products. In addition, pet food manufacturers are increasingly focusing on transparency and sourcing, which appeals to consumers who are concerned about the origin and processing of their pets' food.

Innovations in pet food formulations have been significantly influenced by scientific research and veterinary recommendations. The incorporation of superfoods, probiotics, and antioxidants in pet food has gained popularity as these ingredients are believed to offer health benefits such as improved digestion, enhanced immunity, and better skin and coat health. For instance, ingredients like blueberries, spinach, and pumpkin are now commonly found in pet foods due to their high nutritional value. Additionally, there is a growing trend towards specialized diets such as grain-free, hypoallergenic, and raw food diets to cater to pets with specific dietary needs or allergies. The market is also witnessing a surge in demand for eco-friendly and sustainable pet food options, reflecting the broader environmental consciousness among consumers. Companies are responding to these trends by innovating in product development and packaging, ensuring that they meet the evolving demands of pet owners while maintaining environmental responsibility. For example, biodegradable packaging and sustainably sourced ingredients are becoming more prevalent in the market.

The growth in the pet food market is driven by several factors. The increasing pet adoption rates globally, especially during the COVID-19 pandemic, have significantly boosted the demand for pet food. Many people turned to pet adoption for companionship during lockdowns, leading to a surge in the pet population and, consequently, the need for pet food. The trend towards pet humanization has led to increased willingness among pet owners to invest in high-quality, specialized, and even gourmet pet food products. Pet owners are increasingly treating their pets as family members, prioritizing their health and well-being. Advancements in pet food technology, including the development of nutritionally balanced, scientifically formulated diets, have played a crucial role in market growth. Innovations such as freeze-dried raw diets and customized meal plans based on a pet's specific health profile are examples of how technology is shaping the industry. Additionally, the rise of e-commerce and direct-to-consumer sales channels has made it easier for pet owners to access a wide variety of pet food products, further fueling market expansion. Finally, marketing strategies focusing on the health benefits of premium pet foods and targeted advertising towards specific pet owner demographics have also contributed to the market's robust growth.

Report Scope

The report analyzes the Pet Foods market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments

Product Type (Dry Pet Foods, Wet & Canned Pet Foods, Snacks & Treats); Pricing (Mass Products, Premium Products); Ingredient (Animal Derived, Plant Derived); Application (Dog, Cat, Other Applications).

Geographic Regions/Countries

World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Dry Pet Food segment, which is expected to reach US$107.1 Billion by 2030 with a CAGR of a 5.3%. The Wet & Canned Pet Foods segment is also set to grow at 4.3% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $34.7 Billion in 2024, and China, forecasted to grow at an impressive 7.8% CAGR to reach $39.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as Affinity Petcare SA, Aller Petfood LLC, Barking Heads & Meowing Heads Pet Food UK Ltd., BHJ A/S (Denmark), C&D Foods Ltd. and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Pet Foods Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Pet Foods Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Pet Foods Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Some of the 99 major companies featured in this Pet Foods market report include:

• Affinity Petcare SA
• Aller Petfood LLC
• Barking Heads & Meowing Heads Pet Food UK Ltd.
• BHJ A/S (Denmark)
• C&D Foods Ltd.
• Diamond Pet Foods, Inc.
• Heristo AG
• Hill's Pet Nutrition, Inc.
• INABA PETFOOD Co., Ltd.
• LUPUS Alimentos
• Mars, Inc.
• Nestle Purina PetCare Company
• The J.M. Smucker Company
• Total Alimentos SA
• Tuffy's Pet Foods Inc.
• Unicharm
• Yantai China Pet Foods Co. Ltd.