Pet Food Industry Overview
The global pet food market size is expected to reach USD 139.29 billion by 2030, registering a CAGR of 4.4%, as per a new report by Grand View Research Inc. Packaged pet food provides standard nutritional value required in pet’s daily life. This is projected to drive market growth over the forecast period.
Pet Food Market Segmentation
Grand View Research has segmented the global pet food market based on type, animal, and region:
Based on the Type Insights, the market is segmented into Dry Food, Wet Food, Snacks/Treats.
- Dry food accounted for the largest share of 44.9% for the year 2021 and is useful in ensuring good oral care in dogs with minimal tartar buildup on the animal’s teeth and by reducing plaque.
- In addition, this product type offers the crunch and chewing required for maintaining the overall health of animals. Dry food eliminates the need for freezing like that in the case of canned food.
- High moisture content in this product type helps ensure that the pets are hydrated and are also beneficial to the urinary tract. However, the high cost of the product, particularly meat-based protein canned food, may restrict its preference among consumers, thereby restraining the segment growth over the forecast period.
- Pet snacks are usually preferred for improving intake of nutrition and enhanced quality ingredients, whereas treats are used as the key product to induce positive behavior in pets. Snacks usually consist of baked products such as roasted grains and biscuits or dried fruits and vegetables.
Based on the Animal Insights, the market is segmented into Dog, Cat, Others.
- The dog segment accounted for over 41.5% of the global revenue share in 2021.
- Rising consumer awareness regarding pet health has led to an increased focus on enhancing the weight of dogs and maintaining their overall health. Customers are opting between multiple available foods and are highly relying on product brands.
- The trend of owning more than one cat is witnessing consistent growth, particularly in Europe and North America, thereby propelling the product demand. Cats require less training as compared to dogs and are capable of spending more time alone. Besides, the cost required for owing cats is relatively low as compared to that in the case of dogs.
- The other application segment includes pet food products for birds, fish, and reptiles. The product demand for such animal categories is likely to remain sluggish as compared to that for dogs and cats.
Pet Food Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The key players in the market are majorly inclined towards expansion, merger & acquisition, and new product development. Product differentiation remains a key factor in increasing sales of pet food.
Some prominent players in the global pet food market include
- The J.M. Smucker Company
- The Hartz Mountain Corporation
- Mars Incorporated
- Hill’s Pet Nutrition, Inc
- Nestlé Purina
- Lupus Alimentos
- Total Alimentos SA
- Blue Buffalo Pet Products, Inc.
- WellPet LLC
- Diamond Pet Foods
Order a free sample PDF of the Pet Food Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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