The global market for Pet Foods is estimated at US$126.8 Billion in 2023 and is projected to reach US$177.1 Billion by 2030, growing at a CAGR of 4.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
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.
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.
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, estimated at $33.4 Billion in 2023, and China, forecasted to grow at an impressive 7.7% CAGR to reach $39.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Pet Foods Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Pet Foods Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Pet Foods Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 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., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 99 Featured):
- 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.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYSPAINRUSSIAREST OF EUROPESOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 222 |
| Published | September 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 126.8 Billion |
| Forecasted Market Value ( USD | $ 177.1 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
