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2021

Pet Food Market

Pet Food Market Size, Share, Competitive Landscape and Trend Analysis Report by Pet Type (Dogs, Cats, and Others), Food Type (Dry Food, Wet Food, Treats & Snacks, and Others), and Sales Channel (Supermarkets & Hypermarkets, Specialized Pet Shops, Online Sales Channel, and Others): Global Opportunity Analysis and Industry Forecast 2021-2030

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Author's: Jaya Bundele | Roshan Deshmukh
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The global pet food market size was valued at $87,268.2 million in 2020, and is projected to reach $133,430.9 million by 2030, registering a CAGR of 4.6% from 2021 to 2030.

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.

pet-food-Market-2021-2030

Most of the population think pets as their family members and majority of the pet owned are cats and dogs. In many regions, people reside in small apartment where smaller pets are most suited to the lifestyle of the customers. The majority of the population choose not to have children and there has been a trend toward using pets as a form of substitute creating a pampered pet industry.

Increase in number of old-age couples and DINK (dual income, no kid) families, and rising disposable income are the key factors driving pet adoption globally. There has been a significant growth in separation rate among few people which is also a major factor driving the demand for pet food in the country.

The government of various countries have taken initiatives to promote the use of safe and healthy ingredients to improve the overall wellness of pets. For instance, the Japanese Government implemented the Law for Ensuring the Safety of Pet Food for pet food manufacturers, importers, and wholesalers to protect the pet health and regulate the manufacturing process. Such initiatives would continue to propel the overall pet food market.

The demand for transparency during purchasing of pet food products has increased among consumers, owing to the ongoing concerns about pet health. Therefore, the Food and Drug Administration (FDA) ensures that the ingredients used in pet foods are enlisted on the labels based on weight. In addition, it assesses claims on pet foods such as "maintains urinary tract health," " low magnesium," and "hairball control."

The COVID-19 pandemic had a both positive and negative impact on global pet food market due to supply chain disruptions. But the removal of lockdowns is expected to expand the market in the coming years.

Pet Food Market
By Pet Type
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Dogs segment is expected to grow at highest CAGR of 4.7% during the forecast period

According to pet food market analysis, the market is segmented based on pet type, food type, sales channel, and region. Based on the pet type, the market is fragmented into dogs, cats, and other pets. In 2020, the dog food segment accounted for the largest share in the global market, owing to rising trend of nuclear families and growing inclination of consumers toward dogs for companionship and security. In addition, dogs need various kinds of nutrients to live a healthy life. Hence, dog owners have been focusing on providing proper pet food that contains these nutrients in order to keep them healthy. This is anticipated to propel demand for pet food over the coming years.

Based on the food type, the market is segregated into dry food, wet food, treats & snacks, and others. Based on the sales channel, the market is categorized into supermarkets & hypermarkets, specialized pet shops, online sales channel, and others. The market is segmented based on region into North America, Europe, Asia-Pacific, and LAMEA. The North American pet food market had a dominant pet food market share in the world in 2020, and is expected to maintain its dominance during the pet food market forecast period.

Pet Food Market
By Food Type
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Dry Food segment is expected to grow at highest CAGR of 5.3% during the forecast period.

Easy availability of pet food in diversified platforms ranging from modern trade to online sales channel have resulted in expansion of global market. Moreover, increasing penetration of retail sales have augmented the pet food market growth. In parallel, availability of pet food on e-commerce platforms have resulted in convenience to buy goods without any physical constraints to the consumers. Not only ease of convenience and comfort, e-commerce enables customers to deep dive for product information, prices and benefits comparison and comprehensive value evaluation before committing purchase.

High pitched economies of Taiwan, Malaysia, Singapore and Indonesia are the rapidly emerging markets in the Asia-Pacific region. The high education levels and modern infrastructure facilities in these countries and the affluent status and companionship offered by owning a pet is an important driver for the industry. The high internet connectivity available in these countries is boosting the sales of pet food e-commerce sites.

Pet Food Market
By Sales Channel
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Specialized Pet Shops segment is expected to grow at highest CAGR of 5.1% during the forecast period.

The prominent pet food industry players include Mars Petcare Inc., The Hartz Mountain Corporation, Big Heart Pet Brands, Nestle Purina PetCare, Diamond Pet Foods, Hill’s Pet Nutrition, Deuerer, WellPet, Blue Buffalo, and Heristo AG.

Product launch is the most important growth strategy used by market players, followed by collaboration and agreement, expansion, and acquisition. Several businesses have created innovative products to diversify their product offerings. Various companies use product launches to expand their market reach and serve global customers.

Pet Food Market
By Regions
2030
North America 
Europe
Asia-Pacific
LAMEA

North America dominates the market and is expected to grow at highest CAGR of 5.0% during the forecast period.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of current pet food market trends, estimations, and dynamics of the global pet food market from 2021 to 2030 to identify the prevailing pet food market opportunities.
  • Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global industry. The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
  • The report includes analyses of the regional as well as global market, key players, market segments, application areas, and growth strategies.

Pet Food Market Report Highlights

Aspects Details
Pet Food Market By Pet Type
By Pet Type
  • Dogs
  • Cats
  • Others
Pet Food Market By Food Type
By Food Type
  • Dry Food
  • Wet Food
  • Treats & Snacks
  • Others
Pet Food Market By Sales Channel
By Sales Channel
  • Supermarkets & Hypermarkets
  • Specialized Pet Shops
  • Online Sales Channel
  • Others
Pet Food Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe   (UK, France, Netherlands, Germany, Turkey, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, UAE, Rest of LAMEA)

Analyst Review

The demand for specialized and higher quality pet food products led to increase in pet food production globally. Rise in trend of premiumization resulted in advent of innovative tastes and flavours, shapes, and sizes. For instance, gourmet ingredients, such as béchamel sauce, crimson and turkey, and meat and pumpkin purée with quinoa in pet food products has resulted in increased demand of premium products.

In addition, manufacturers emphasize offering products containing 100% meat and high moisture with no artificial preservatives and additives added. This would enhance the market by giving opportunities to small-scale manufacturers to produce abundant premium and super-premium products for cats than what is already available for dogs in the industry.

Premiumization and product differentiation continue to drive pet food industry. The growth of enhanced pet food products is creating greater segmentation based on factors, such as age, breed, and dental health. The rising trend of treating pets like a child has led to a sharp increase in using natural health products and nutritional ingredients. Pet owners are opting high-quality, nutritional and healthy products to ensure their pets to stay healthy. They also demand pet food ingredients labelling to be transparent on its packaging to know if their pets are consuming healthy, nutritional and natural.

The increased pet ownership has generated demand for commercial, nutritional and high-quality premium pet food products. According to pet Food Institute, less than 40% dogs eat commercial food while the rest of pets prefer high-quality nutritional food because of pet parents shifting to treats, snacks and nutritional foods to ensure better health of their pets. Thus, pet food for dogs is gaining momentum during the forecast period.

Author Name(s) : Jaya Bundele | Roshan Deshmukh
Frequently Asked Questions?

The global pet food market was valued at $87,268.2 million in 2020, and is projected to reach $133,430.9 million by 2030, registering a CAGR of 4.6% from 2021 to 2030.

The forecast period in the pet food market report is from 2021 to 2030.

The base year calculated in the pet food market report is 2020.

The prominent pet food market players include Mars Petcare Inc., The Hartz Mountain Corporation, Big Heart Pet Brands, Nestle Purina PetCare, Diamond Pet Foods, Hill’s Pet Nutrition, Deuerer, WellPet, Blue Buffalo, and Heristo AG. These companies hold the highest market share in the pet food market.

The dogs segment is the most influencing segment by pet type growing in the pet food market report.

The North America holds the maximum market share of the pet food market.

The company profile has been selected on the basis of various strategies such as product launch, partnership, joint venture, and agreement.

The global pet food market was valued at $87,268.2 million in 2020.

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Pet Food Market

Global Opportunity Analysis and Industry Forecast 2021-2030