The Human Grade Pet Food Market Size was valued at USD 95.5 Bn in 2023 and is predicted to reach USD 138.9 Bn by 2031 at a 4.9% CAGR during the forecast period for 2024-2031.
Human-grade pet food means that the items used to make the food are legal and safe for humans to ingest. Human-grade pet food is safer because it is manufactured in the same facilities as human food. The worldwide pet ownership trend is on the rise, especially in developing economies, and it is expected to impact the global market for human-grade pet food significantly. The global human-grade pet food market is experiencing strong growth due to the increasing number of pet owners concerned about providing their pets with healthy, high-quality food. The growing urbanization and pet humanization drive this trend. Additionally, expanding the number of people owning pets worldwide is a great way to boost demand for pet food, opening up new markets for specialized pet foods. The worldwide market is growing because commodities in different price ranges are easily accessible. Clientele has several alternatives and can choose from different financial statuses.
However, market growth is hampered by the high cost of human-grade pet food and the product's inability to meet the market demand. E-commerce and digital marketing are essential for increasing the reach of products, and creative flavors and packaging designs attract customers and support the human-grade pet food market expansion. The adoption of human-grade pet food is expected to be expedited by pet owners due to the rising popularity of pets. Additionally, a large number of vendors in the market specialize in selling fresh pet food that is intended for human use.
Competitive Landscape
Some of the Major Key Players in the Human Grade Pet Food Market are
- Nestle Purina
- The Hartz Mountain Corporation
- Hill’s Pet Nutrition
- Blue Buffalo
- The J.M. Smucker Company
- Lupus Alimentos
- WellPet LLC
- Other Prominent Players
Market Segmentation:
The human-grade pet food market is segmented based on type and distribution channel. Based on type, the market is divided into snacks, wet food, dry food, and others. By distribution channel, it is divided into offline, online, supermarkets, and others.
Based on the Type, the Snacks Segment is Accounted as a Major Contributor to the Human Grade Pet Food Market
The snacks segment is expected to hold a significant global market share in 2023 because pet owners are growing conscious of the benefits of using natural items in their pets' diets. The demand for good pet food is rising, and the trend of humanizing pets is becoming more pronounced. Pet snack premiumization and increasing disposable incomes fuel the market's expansion. The expansion of the pet industry is being propelled by rising disposable money, which in turn is funding new flavor and nutrition advancements, all contributing to the sector's growth.
Offline Segment to Witness Growth at a Rapid Rate
Offline makes up most human-grade pet food because shoppers prefer in-store purchases, where they can personally examine and confirm the items' quality. The ability to compare different goods in person, quick availability, and personalized customer service all add to the attractiveness. Furthermore, this market experiences constant foot traffic and sales due to established trust and loyalty with local grocers and pet retailers, especially in countries like the US, Germany, the UK, China, and India.
In the Region, the North American Human Grade Pet Food Market Holds a Significant Revenue Share
The North American human-grade pet food market is expected to register the highest market share in revenue in the near future. Because people are paying more attention to pet health and welfare, there is increased demand for human-grade pet food in emerging nations. Innovation in tastes, components, and health advantages is encouraged by the existence of major participants in the market, as well as the rising pet owners' purchasing capacity and per capita income. In addition, Asia Pacific is projected to grow rapidly in the global human-grade pet food market because there is a high prevalence of pet ownership, and people are gradually spending more on their pets’ health and happiness because they consider them part of the family. The need for high-quality foods is being driven by customers in Asia-Pacific who have a preference for premium and health-oriented products in the area.
Recent Developments:
- In March 2024, the state government, community partners, and leaders from Nestlé Purina PetCare joined together to celebrate the opening of the newest pet food factory owned by the pet care firm, which is located in Eden, North Carolina. The celebration of the grand opening marks the conclusion of more than three years of labor that was put into bringing the operation that was worth more than $450 million to life and constructing the first Nestlé manufacturing facility in the state.
- In June 2024, Wellness Pet Company has been at the forefront of pet nutrition. At Global Pet Expo 2024, they will be showcasing their latest developments in cat and dog food lines, along with dental treats and toppers. The company’s latest offerings and line extensions provide a wide range of nutritional benefits to meet specific demands with premium food and treats in accordance with its mission to assist pets and their owners in living a life of shared wellness.
Human Grade Pet Food Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 95.5 Bn |
|
Revenue Forecast In 2031 |
USD 138.9 Bn |
|
Growth Rate CAGR |
CAGR of 4.9% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, By Distribution Channel and By Region |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
|
Competitive Landscape |
Nestle Purina, The Hartz Mountain Corporation, Hill’s Pet Nutrition, Blue Buffalo, The J.M. Smucker Company, Lupus Alimentos, WellPet LLC, and other prominent players. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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