Pet Food Market Size is valued at US$ 106,965.9 Mn in 2023 and is expected to reach US$ 162,234.2 Mn by 2034 growing at CAGR of 4.0% from 2024 to 2034.
Pet food is a specialized form of animal feed formulated to meet the distinct nutritional needs of pets, including dogs, cats, and birds. It is designed to supply the vital nutrients required for development, maintenance, and overall health. The nutrients comprise proteins, carbs, lipids, vitamins, and minerals. Pet food is often classified into dry (kibble), wet (canned), semi-moist, and raw varieties. The ingredients typically include meat or animal derivatives, cereals, vegetables, and supplementary additives such as omega fatty acids or probiotics. The global pet food industry has expanded considerably owing to rising pet ownership and customer desire for premium and natural goods.
The shift toward natural and organic ingredients has become a major trend, with pet owners prioritizing high-quality, chemical-free, and sustainable food options for their pets. Additionally, monoprotein diets, designed for pets with food sensitivities, are gaining popularity, alongside more specialized foods targeting health concerns such as weight management, dental health, and joint support.
Animal-derived proteins remain the most common source in pet food, but plant-based and insect-based proteins are emerging as sustainable alternatives, responding to growing environmental concerns and the demand for hypoallergenic options. With innovation at the forefront, the market continues to diversify, offering products like functional foods, tailored diets for pets with allergies or sensitivities, and convenient, high-quality options for pet owners who prioritize their pets' health and well-being.
Competitive Landscape
Some of the Key Players in Pet Food Market:
- Simmons Pet Food, Inc.
- Nature's Variety
- M. Smucker Company
- Sunshine Mills, Inc.
- Mars
- Hill's Pet Nutrition, Inc.
- Nestlé Purina PetCare
- United Petfood
- Blue Buffalo Co., Ltd.
- Pets Choice
- Inspired Pet Nutrition Ltd.
- Unicharm PetCare Corporation
- Spectrum Brands Holdings, Inc.
- Burns Pet Nutrition
- FirstMate Pet Foods
Market Segmentation:
The pet food market is segmented by product type, source, animal type, and nature. Based on product type, the market is categorized in dry food (kibble), extruded, baked, wet food, snacks/treats, dehydrated food, freeze-dried food, frozen food, raw food, powdered food. Based on source, the market is segmented into animal-derived, plant-derived, and insect-derived. Based on animal type, the market is categorized into Dog, Cat, Birds, Others. Based on Nature, the market is segmented into Conventional, Organic, Monoprotein.
Kibble/ Dry Segment is Expected to Drive the Pet Food Market.
Kibble or dry form holds a huge share in the Pet Food market because they are convenient, economical, and have a very long shelf life, making them a convenient option for pet owners. These are high-protein, nutrient-dense foods and fulfill the increasing demand for nutritious and hypoallergenic pet food. In recent years, there has been a growing trend in the market for high-protein, grain-free, and functional kibble designed to meet pets' specific dietary requirements, including weight management and joint support. Royal Canin and Hill's Science Diet are pioneering innovations by providing breed-specific kibble. The dry food (kibble) segment is dominated by North America, particularly the United States, due to the high pet ownership rate, particularly among dog owners, and the preference for cost-effective, convenient nutrition solutions.
Animal Derived is Growing at the Highest Rate in the Pet Food Market.
Animal derived segment is significantly driven by the demand for high-protein, meat-rich diets, which is driven by the humanization of pets and the premiumization trend. Pet owners are increasingly seeking pet foods that approach human dietary preferences. Additionally, there is an increasing consumer preference for innovative animal proteins to reduce allergies and sensitivities in their pets. Premiumization, health-conscious feeding practices, and consumer propensity to invest in high-quality, protein-rich diets that reflect their own health and wellness values all contribute to the sustained growth of North America's animal-derived pet food market. Furthermore, grain-free and raw meat diets have experienced an increase in popularity, particularly in North America and Europe, where pet owners emphasize natural and organic feeding.
Conventional Pet Food Holds Major Share In 2023.
The conventional pet food market has the most significant global share due to its low cost, widespread availability, and diverse product offers. Conventional pet food continues to dominate, particularly in the dry kibble, due to its low cost and ease. Conventional pet food has considerable similarities with the dog and cat food sectors, where dry food (kibble) is still the most common type. Functional additives in conventional food, such as joint support and immune-boosting compounds, are becoming increasingly essential differentiators. This segment grows on mass-market demand, particularly in emerging markets where cost-effectiveness remains essential.
Regionally, North America Led the Pet Food Market.
North America is leading the Pet Food market, driven by high pet ownership, with 66% of American households owning a pet (2023-2024 National Pet Owners Survey, American Pet Products Association), and 97% considering them part of the family (Pew Research Center). Pet humanization trends are the primary factor driving the region's expansion, as owners prioritize premium, organic, and functional pet foods and regard their pets as family members. North America is anticipated to maintain its dominant position in the global pet food market by emphasizing pet health and wellness, premiumization, and continuous innovation.
Pet Food Market Report Scope:
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 106,965.9 Mn |
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Revenue Forecast In 2034 |
USD 162,234.2 Mn |
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Growth Rate CAGR |
CAGR of 4.0% from 2024 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2034 |
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Historic Year |
2021 to 2023 |
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Forecast Year |
2024-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Product, Pharmaceuticals, And, Animal, Distribution Channel, End-User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; Japan; South Korea; Southeast Asia |
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Competitive Landscape |
Simmons Pet Food, Inc., Nature's Variety, J.M. Smucker Company, Sunshine Mills, Inc., Mars, Hill's Pet Nutrition, Inc., Nestlé Purina PetCare, United Petfood, Blue Buffalo Co., Ltd., Pets Choice, Inspired Pet Nutrition Ltd., Unicharm PetCare Corporation, Spectrum Brands Holdings, Inc., Burns Pet Nutrition, and FirstMate Pet Foods |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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