Pet Food Global Market Report 2024

The pet food market size has grown strongly in recent years. It will grow from $68.67 billion in 2023 to $73.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%.The growth observed in the historical period can be ascribed to heightened expenditures on pets, a rise in pet ownership among adults from Generation Z and Generation Y, and the expansion of emerging markets.

The pet food market size is expected to see strong growth in the next few years. It will grow to $97.4 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The anticipated growth in the forecast period can be attributed to the increasing demand for premium and organic pet food, the influence of digital media marketing and social media, a rising demand due to the increase in stockpiling of pet food, an increasing focus on feeding stray animals and other abandoned pets, and a growing demand for pets. Major trends expected in the forecast period include investments in facilities to produce quality grain-free dog food products, the offering of premium pet food products, the utilization of ecommerce platforms for online product sales, the adoption of automation technologies to maximize production efficiencies, a focus on offering customized food according to customer needs, an emphasis on producing pet foods with organic ingredients, a concentration on gaining more subscribers, investments in CBD pet food for product differentiation, and efforts to increase online sales channels. Player-adopted strategies in the pet food market include investments in expanding manufacturing operations, enhancing product portfolios through strategic acquisitions, and investing in research and development to develop new, improved, and premium products.

The anticipated growth in the pet food manufacturing market is supported by the stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), global GDP growth reached 3.3% in 2020 and 3.4% in 2021, both as per the IMF. The expected recovery of commodity prices, following a significant decline in the historical period, is poised to contribute to the market's growth. Developed economies are also projected to experience stable growth during the forecast period. Furthermore, emerging markets are anticipated to exhibit slightly faster growth than developed markets in the forecast period. This stable economic growth is expected to boost investments in the end-user markets, thereby driving the pet food market during the forecast period.

The increase in pet ownership is expected to be a driving force behind the growth of the pet food market in the coming years. Pet ownership involves the act of caring for and being responsible for one or more animals kept as pets. The rising trend of pet ownership and evolving attitudes toward pets as integral family members have spurred the demand for high-quality, specialized, and convenient pet food products. For instance, in March 2023, according to Improve International, a UK-based training provider, there are 38 million pets residing in approximately 57% of UK homes (16.2 million), reflecting a 9% increase from 35 million in 2022. Hence, the surge in pet ownership is a significant factor propelling the growth of the pet food market.


Pet food manufacturing companies are increasingly integrating automation technologies, including advanced production lines and software solutions, to enhance safety and operational efficiency. These technologies are designed to automate various processes such as formulation, batching, drying, coating, and liquid delivery, leading to cost-effective processing and consistent product quality. A notable example is Champion Petfood's, a Canadian pet food producer, utilization of video-monitored production lines connected through Rockwell hardware and software systems, along with advanced extrusion and drying systems, votator heat exchangers, and bulk bins. This integration has proven effective in ensuring efficiency and maintaining product quality. Similarly, United Pet Group's pet food manufacturing plant in St. Louis utilized FactoryTalk software from Rockwell Automation, resulting in a 10% reduction in overtime and a 15% increase in labor efficiency.

Major companies are forging strategic partnerships to enhance profitability. An illustration of this strategy is evident in the partnership between Cranswick PLC, a UK-based food manufacturing company specializing in pet food, and Pets at Home. This strategic collaboration serves as a deliberate move by Cranswick to augment its market share within the pet food industry and drive expansion through a significant strategic client, with Pets at Home being a prominent UK-based pet care company.


Major companies operating in the pet food market report are Mars, Incorporated, Nestle S.A., The J.M. Smucker Company, Colgate-Palmolive Company, Diamond Pet Foods Inc., General Mills, Inc., Archer Daniels Midland Company, Saturn Petcare GMBH, Unicharm Corporation, Tiernahrung Deuerer GmbH, Marukan Co. Ltd., Riverd Corporation Inc., Nippon Pet Food Co. Ltd., Glenand Group, Purina PetCare India Private Limited, Luscious, Pedigree, Yantai China Pet Foods Co. Ltd., Real Pet Food Company, Fressnapf, Monge & C. Spa, Pet Food UK, Burgess Pet Care, GA Pet Food Partners, Tekro, Brit, Marp Pet Food, Partner in Pet Food, Hill's Pet Nutrition, Nutreco, Canadian Jerky Company Ltd., Corey Nutrition Company Inc., Elmira Pet Products Ltd., Malta Cleyton, Brazilian Pet Foods S/A, Diana Pet Food Brasil (SPF), Neovia Group Brazil, Natural Pet Foods, Premier Pet, Bio-Pet Ltd., Tropikal Pet, Cagatay Pet Food, African Gazelle Products, Maneli Pets, RCL Foods, Martin & Martin Pty Ltd., PROMEAL.


North America was the largest region in the pet food market in 2023. Western Europe was the second-largest region in the pet food market. The regions covered in the pet food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the pet food market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa. The pet food market consists of sales of dry dog food, dog treats, wet dog food, wet cat food, dry cat food, cat treats, and other pet food. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The primary categories of pet food include dog and cat food, along with other pet food. Dog and cat food is specifically designed for the dietary needs of dogs, cats, and related canines. These pet foods consist of various ingredients, including animal derivatives, plant derivatives, and synthetic components. The distribution of these products occurs through specialized pet shops, online sales, hypermarkets, and other channels.

The pet food research report is one of a series of new reports that provides pet food statistics, including pet food industry global market size, regional shares, competitors with pet food share, detailed pet food segments, market trends and opportunities, and any further data you may need to thrive in the pet food industry. This pet food research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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