Pet Food Market Size, Share, Opportunities, And By Pet Type (Dogs, Cats, Others), By Food Type (Kibble, Moist Food, Semi-moist Food, Frozen And Freeze-dried Food), By Sales Channel (Online, Offline), And By Geography - Forecasts From 2024 To 2029

The Pet Food Market in 2022 was US$150.621 billion which increased to US$209.328 billion in 2029 with a CAGR of 4.81%.

Pet food is recognized as the meals that pets consume, and it is obtained from pet stores or supermarkets. The type of pet nutrition also shifts in line with a certain peculiar animal e.g., types of food for dogs, fish, cats, and many more. With a huge number of passionate pet owners in a certain area, they save more money which is now being utilized for purchasing and feeding their pets. 

Furthermore, this uprising attitude of belonging to pets as a part of the family deserves extra attention in different clusters of the world as the demand for premium pet food products is gaining speed. The global pet food industry has shown its growth potential greatly with a wide range of pet-food products which have many qualities such as flavour and multiple health benefits. Market expansion is being propelled by the accelerating pace of existing players' takeover and acquisition strategies as well as by a high level of private equity investments in the pet food business.

For instance, according to an American Pet Products Association published article in 2024, it states that pet ownership statistics At the moment, a great number of 63% of American adults make up households that own pets and this translates to approximately 180,000,000 adult consumers who live in households that consider themselves pet owners.

Market Drivers

• The growing trend of pet humanization drives the pet food market growth.

There is an evident transformation in the way we view and nurture our animals. They are no longer merely regarded as companions, instead the concept of ‘pet humanization’ has gained popularity. It involves treating pets like family members showing pets love, giving them good quality food as well as clothing them. Social media is a key constituent of this trend after all there are so many pages and profiles promoting animals and their upscale lifestyle.

Pet owners these days have become more knowledgeable in the composition of pet food, preferring organic or up-scale selections that follow human health food trends. Such humanization of pets symbolizes more than petting it represents a deeper emotional bond. Such industries include more and more pet-friendly workplaces, daycare facilities for dogs, and even pet counselling services. This trend is projected to go on, thus affecting the industry of pet care and other fields including pet product development and veterinary services.

• The availability of various pet foods in the market propels the pet food market growth.

The dog and the cat food landscape has dramatically changed ever since pets were treated more like people. Consequently, the pet food industry has grown to offer comparable diversification that can be seen in the human food market. Today a pet owner has no limits in choices for grain-free, organic, or special recipes catering to food allergy, as well as human-quality fresh meals, delivered at doorstep. From the specific preferences of pets to giving people the chance to indulge and pamper their dogs, cats, or birds, the ever-expanding range of choices is more than just a dietary choice.

In relation to this, it is not just foodstuffs that are involved, as there has been a widely increased range of pet body care, dental treats that help with teeth cleaning or reduce anxiety, and also generous designer accessories. This phenomenon is clearly showing that with the passage of time, an age when pet owners only feed their animals with dry kibble is over and pet owners are setting high standards for nutrition and lifestyle for their beloved pets now.

• The growing health awareness about pet health boosts the pet food market growth.

The pet care industry is now seeing tremendous changes since many people are becoming conscious of the pet health situation. Today, unlike previously, dog owners are not willing to leave their pets until they become visibly ill to access treatment. However, the tendency now is to take charge of the situation in their hands by scheduling regular appointments, delivering preventive interventions such as vaccinations and deworming, as well as even setting the priorities for dental care. This mindset change flows our system to the mainstream of prevention seen in human medicine.

Through the internet, which has been one of the key components in the education of pet owners about the health and welfare of their pets, people have learned a lot of facts. The degree of emotional attachment between owners and their pets is becoming more intimate. And this produces more willingness to grant a pension for the pet's happiness and comfort in the future. This trend is going to continue and pet owners will have no limitations when it comes to asking for veterinary services of the highest standards, the most innovative pet health products, and the whole system of pets' wellness.

North America is anticipated to grow

North America is projected to account for a significant share of the pet food market due to various reasons. The primary aspect of the region is pet ownership the census in the area is still big as many people view their pets as dear family members. The term "pet humanization" describes the tendency of people to buy expensive feed that includes only high-quality human food ingredients, responds to the symptoms satisfies the needs of their pets, and is in line with the latest health food fashion.

Additionally, North America serves as a catalyst for innovative advancements in pet food production, where companies experiment with novel and better-formulated diets, offer fresh food delivery services, and give functional pet foods that cure various diseases. This appeal for innovation, accompanied by a fan base of eager consumers ready to spend on dearly held companions, creates North America as a leader and a driving force in the rapidly ever-changing market.

For instance, according to the American Pet Products Association published article in 2024, it states that Altogether American families annually spend $109 billion, on pets, pet services, and pet products. About 2.7 million jobs in the US had pet-related expenses that contributed to a total of $140 billion in personal earnings.

Market Challenges

• The surge in the price of pet food contents curbs the pet food market growth.

As a consequence of inflation and global events, growing costs of grain, meat components, as well as other ingredients used in pet food can eventually jeopardize the ability of producers to stay determined in the pet food sector.

• Transformation in consumer demands hinders the pet food market growth.

Pet owners today are becoming more aware of the subject, and thereby they are demanding more from a food product that they include in their diet plans for their pets. It is the hunt for products with simple and easily comprehensible labelling, ethical sourcing, and particular formulas that tackle health conditions. In order to keep up with the industries, factories must be prepared to change with this varied consumer choice.

Key Developments

• In March 2024: Nulo debuts an amazing new technology, the cold-pressed pet food. This is an alternative feeding from stable-shelf kibble that features 95% of meat content which contains maximally processed components as ingredients. Suitable for dogs that are on a low-carb diet, it improves digestive, as well as immune health, with the help of pre-pro, and postbiotics.
• In February 2023: Mars Petcare announced the closure of the deal with the famous pet food manufacturer Champion Petfood. The acquisition provides the necessary leverage to Mars Petcare in that Champion's famous brands ORIJEN and ACANA supplement the product offering. The expansion into the speciality and independent retail pet food market will allow the acquisition to increase Mars' ability to offer pet owners even more choices.

Company Products

• Diamond Natural for Dogs: Diamond Naturals dry and canned food is tailor-made to deliver complete food nutrition to the dogs through a holistic viewpoint. Each packet of dog food proves very useful as every ingredient therein is deliberately useful and performs a specific function that either acts as an antioxidant or supplies essential nutrients. Furthermore, all organic premixes contain added probiotics as a component to help maintain digestive and immune system health.

SEGMENTATION:

• By Pet Type
  • Dogs
  • Cats
  • Others
• By Food Type
  • Kibble
  • Moist Food
  • Semi-moist Food
  • Frozen and Freeze-dried Food.
• By Sales Channel
  • Online
  • Offline
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
    • Others
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Italy
    • Others
  • Middle East and Africa
    • UAE
    • Israel
    • Saudi Arabia
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Australia
    • India
    • Others