The global pet food market is projected to reach USD 117,691.2 million in 2023. From 2023 to 2033, the market is expected to grow at a robust CAGR of 6.4%, with the total market value anticipated to exceed USD 220,477.1 million by 2033.
The growing demand for frozen and freeze-dried pet food is driven by changing lifestyles worldwide. Additionally, shifting consumer attitudes toward pet health are boosting the need for these specialized pet food options.
Increased awareness of pet health is a major driver behind the rising demand for specially-formulated pet foods. The global pet food market is expanding due to growing advertising efforts, health awareness campaigns, and endorsements by celebrities.
Grain-free pet food significantly enhances both the immune and digestive systems. It also helps maintain a healthy, glossy coat and supple skin. Manufacturers of grain-free pet food are investing in research and development to produce high-quality products and improve the overall nutritional value of their offerings.
Grain-free formulas include a specialized P.B.F. (Prebiotic Balanced Fiber) blend designed to promote healthy digestion. A well-functioning gut is vital for the body’s natural defense against illness, and maintaining gut health supports overall pet well-being.
Food allergies and sensitivities can affect a pet’s health and well-being, and it is possible that the pet owners are unaware of the allergy. The market for pet food is being driven by increasingly aware owners who are educating themselves on their pets’ niche requirements, food and health-wise.
Key Takeaways:
- The global pet food market is valued to reach USD 1,17,691.2 million by 2023 and is projected to surpass USD 2,20,477.1 million by 2033.
- North America is expected to emerge as the key region as it is anticipated to reach a market valuation of USD 39,773.4 million surging at 4.1% CAGR by 2033.
- The global pet food industry is projected to surge at a CAGR of 6.4% by 2033.
- Europe is projected to show positive growth and is anticipated to command a 26.0% global share to reach a US$ 50,603.3 million valuation by 2023.
- China is anticipated to exhibit a CAGR of 11.9% during the forecast period.
Competitive Landscape
To enhance their market presence both regionally and internationally, key industry players are focusing on alternative distribution channels, including online sales platforms.
While major companies are prioritizing the acquisition of smaller players, smaller businesses must invest significantly in research and development to grow globally and innovate new products.
For Instance:
- In September 2020, the Scoular Company, a leading agribusiness, and food ingredient company, completed the construction of a state-of-the-art manufacturing facility in Seward, Nebraska. The facility is dedicated to producing freeze-dried pet food ingredients with high protein content that are essential for the formulation of premium-quality pet food products.
- In 2018, Cargill Inc., a leading global provider of food, agriculture, and industrial products and services, acquired Pro-Pet, a well-established pet food manufacturer based in Ohio.
Key Companies Profiled
- Mars Incorporated
- Nestlà Purina PetCare
- The J.M Smucker Company
- Colgate Palmolive Company
- Affinity Petcare SA
- Freshpet
- Nutro Products Inc.
- ADM (Total Alimentos SA)
- Fromm Family Foods LLC.
- Dave’s Pet Food
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Pet Food Market Outlook by Category
By Product Type:
- Kibble/Dry
- Baked
- Coated
- Extruded
- Dehydrated Food
- Chews and Treats
- Dog
- Pastes
- Cream Snacks/ Creames
- Crunchy Snacks
- Chew Sticks
- Tablets
- Biscuits
- Jerky
- Rawhide
- Cats
- Pastes
- Creames/Cream Snacks
- Crunchy Snacks
- Chew Sticks
- Tablets
- Biscuits
- cat Milk/Milk Snacks
- Freeze-Dried Raw
- Wet Food
- Frozen
- Raw Food
- Powder
- Freeze-Dried Food
By Source:
- Animal-derived
- Fish
- Chicken
- Duck
- Beef
- Pork
- Vension/Game
- Lamb
- Turkey
- Plant-derived
- Insect-derived
- Crickets
- Mealworms
- Black soldier flies
By Nature:
- Organic
- Monoprotein
- Conventional
By Pet Type:
- Cat
- Senior
- Kitten
- Dog
- Adult
- Puppy
- Senior
- Birds
- Others (Hamsters, Rabbits, etc.)
By Region:
- North America
- Europe
- South Asia
- Latin America
- East Asia
- Oceania
- Middle East and Africa
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