Global Pet Food Market Outlook, 2027

Global Pet Food Market Outlook, 2027

Like humans, pets also need a healthy diet for their fit survival. The ingredients used for pet foods are usually the protein source that is required for the pet's health. These ingredients are in the form of animal derivative, plant derivatives, cereals derivative, etc. Nowadays consumers are very much intended to provide their pets with foods containing healthy ingredients in the form of natural and organic foods.

According to the report, “Global Pet Food Market Outlook, 2027” published by Bonafide Research, the market was valued around USD 142 Billion in 2021 which is anticipated to reach USD 195 Billion by 2027. Further, the CAGR is projected to be more than 5% for 2022-2027. Pet guardians are much attracted towards ready to eat nourishment for their pets. These are snacks and treat a form of food that indulges the habit of taking small meals as what humans do it more often. This report helps to understand the in-depth understanding of global pet food market products along with its historical & forecasted analysis and the top profiled companies. Pet food is considered as one of the largest adapted segment among all the pet products. The report shows the prominence of pet food in the market as it has registered a dynamic growth historically.

Apart from these top-performing regions, the market has posed its expansion in the nascent markets like South America, the Middle East. The South American pet food market has heavily relied on local brands like Biobase Animal Feed in Brazil, Laboratorio Pro Agro in Argentina, etc. Globally pet foods in the market are segmented in the form of dry pet food, snacks, and treats, wet & canned food products. All these food products have their importance while dry food posing the highest adaption in the market.

Growing dog food demand along with higher traction in the premium pet food segment is anticipated to drive the pet food market over the forecast period. Dry food is witnessing rapid growth in demand as compared to other product counterparts owing to its convenience in terms of storage and feeding pets without creating a mess. This is positively influencing urban consumers to increasingly opt for dry pet food. Canned food is more palatable to dogs and cats as this product type contains proteins, fats, and a few carbohydrates. Wet/canned pet food is easy to digest and thus limits the backyard cleaning activity to a minimal. The higher digestibility offered by wet food makes it preferable for cats and dogs with illnesses and those that are finicky eaters.

On the other hand, the rising trend of dog adoption as a companion for families is projected to propel the product demand. Particularly dogs are witnessing an upward trend in terms of the concept of humanization of pets. This has resulted in an increased number of people owning dogs and feeding them premium food. Furthermore, rapid urbanization is among the key factors driving the market. According to recent estimates from the Pet Food Manufacturers Association, 3.2 million homes in the U.K. have adopted a pet since the outbreak began (Paley, 2021). Pet-owning households presently number 17 million in the U.S. The previously stagnating levels of pet ownership in the last five years have risen to 57 percent in May 2021 (Mintel, 2021).

Young people have accounted for a large portion of the increase in pet owners. Over half of new pandemic pet parents are between the ages of 16 and 34. Current pet owners are another important driver of pet purchase, with 42% of them getting a new pet since the lockdown. During COVID-19, 74 percent of pet owners said that their pet had benefited them with their mental health. In addition to that, 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.

The government of various countries has 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. Also, 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.

New trends in the pet food market are attracting customers. There is a growing demand for protective and informative packaging of pert food. Hence, manufacturers in the pet food market are increasing their efforts to develop sustainable pet food packaging. Growing concerns about the environmental impact of plastic has led to a rise in the development of sustainable packaging solutions. For instance, in April 2019, global flexible packaging company ProAmpac, revealed their fiber-based PRO-EVP multiwall bags that are made from renewable resources.

How personalization of pet foods is gaining importance?
The people want custom-made food for their pets because they know what is better for them. There are special stores in the market, where the pet owners can decide the ingredients liked and easily digested by their pets and customize the food accordingly. It is expected that this pattern will open new doors in pet food advertizing. Concerning personalization, there are no restrictions on anybody’s creativity. Presently it is the opportunity to bounce on to, that may take the brand stand out in the crowd. Particularly in the pet food segment, the pet guardians appear to welcome this trend with all their hearts as this gives them the sentiment of having more command over the fixings they are taking care of their pets.

Major companies present in the market
Nestle SA, Mars Incorporated , Colgate-Palmolive , J M Smucker , Blue-Buffalo , Champion Pet Foods , United Pet Group, a Spectrum Brands Company, PLB International , Scott Pet, Inc. , Unicharm Corporation, Laroy Group, Deuerer GmbH , Heristo AG , Well Pet , Nicoluzzi Industria de Racoes Ltda, Raw Gold , Promeal (PTY) LTD, Heritage Foods Kenya Ltd. , Lider Pet Food , De Haan Pet Food

Considered in this report
• Geography: Global
• Historic year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Global Pet Food market with its value and forecast along with its segments
• Region & Country-wise pet care market analysis
• Various divers and challenges
• Ongoing trends and developments
• Five force models
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report
• North America (USA, Canada, Mexico)
• Europe (UK, France, Italy, Germany)
• South America (Brazil, Argentina, Chile)
• Asia-Pacific (Japan, Australia, China, India)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

Segment covered in the report
• Pet foods
• Pet healthcare
• Pet accessories
• Pet grooming

By Pet Type in the report
• Dog Food
• Cat Food
• Fish Food
• Bird Food

• Others
By Food Type in the report
• Dry Food
• Wet or Canned
• Snacks and treats
• others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering, the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started, verifying the details obtained from secondary sources.

Intended audience
This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to pet care products industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.