Pet Food Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product Type (Dry Food, Wet Food, and Snacks & Treats), Pet Type (Dogs and Cats), Category (Animal-based and Plant-based

The pet food market size is projected to reach US$ 183.39 billion in 2024 to US$ 268.59 billion by 2031; it is estimated to register a CAGR of 5.6% from 2024 to 2031.

The pet food market has experienced significant growth over the past few years, driven by increasing pet ownership, rising disposable incomes, and an evolving focus on the health and wellness of pets. As more people view pets as family members, there has been a corresponding rise in demand for high-quality, nutritious, and specialized food products. Pet owners increasingly seek food options that cater to specific needs, such as organic, grain-free, and hypoallergenic formulations. Additionally, there is a growing preference for premium and natural ingredients, emphasizing transparency and sustainability in the sourcing and production of pet food. The market is also influenced by evolving consumer behavior, such as the growing online pet food shopping trend. E-commerce platforms have become a crucial distribution channel, allowing pet food brands to reach a wider audience and offer convenient home delivery services. Key players in the industry are continuously investing in research and development to offer specialized products that meet the diverse needs of pets, including those with dietary restrictions, aging pets, and those requiring medical or therapeutic diets. Therefore, as consumer awareness about pet nutrition increases, the market will likely see further innovation and growth across different segments.

Dry pet foods offer advantages such as convenience, dental health benefits, easy storage and transportation, and food enrichment. Unlike wet pet food, dry pet food is less likely to get contaminated. Dry pet food encourages dogs and cats to chew their food, which aids in preventing tartar buildup and secondary periodontal disease. Several studies have found positive relationships between dry pet food and dental health. Specially formulated dental kibbles help reduce plaque accumulation and gingivitis in cats and dogs. Further, dry food is much easier to pre-portion and is less prone to spoilage when left exposed. Dry pet food is generally cost-effective and has a longer shelf life. Dry pet food or kibble can be integrated into food puzzles and slow feeders that may improve a pet’s quality of life through cognitive stimulation. Dry kibble has a lower volume and weight than canned wet food, thus making it easier to store. Thus, the benefits of dry pet food products accelerate its demand in the overall pet food market.

Based on distribution channel, the pet food market is segmented into supermarkets and hypermarkets, pet specialty stores, vet clinic, convenience stores, online retail, and others. In the pet food market, supermarkets and hypermarkets play a key role in reaching a wide consumer base. Supermarkets, known for their extensive product offerings and accessibility, serve as primary retail outlets for pet food products such as wet food, dry food, snacks, and treats. The convenience of finding these products alongside everyday items contributes to their widespread availability. Hypermarkets, with their larger size and diverse product range, provide a more expansive platform for the distribution of pet food. The visibility of these products in hypermarket settings enhances consumer awareness and accessibility.

A few players operating in the pet food market include Mars Inc, Nestle SA, J M Smucker Co, General Mills Inc, United Petfood Group BV, Colgate Palmolive Co, Monge & C SpA, Butcher’s Pet Care Limited, VAFO Group AS, Inspired Pet Nutrition Ltd, First Class Pet Co Ltd (Little BigPaw), Symply Pet Food Ltd, MPM Products Ltd, Burns Pet Nutrition Ltd, Forthglade Foods Ltd, Furchild Nutrition LLC, Wunderdog Animal Feed Manufacturing LLC, Cagatay Pet Food, Schell & Kampeter, Inc, Burgess Group PLC, and among others. Players operating in the pet food market focus on providing innovative and healthy products at affordable prices to fulfill customer demand.

The overall pet food market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the pet food market.

Reasons to buy

Progressive industry trends in the pet food market to help players develop effective long-term strategies
Business growth strategies adopted by developed and developing markets
Quantitative analysis of the pet food market from 2021 to 2031
Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
Recent developments to understand the competitive market scenario and the demand for pet food across the globe
Market trends and outlook coupled with factors driving and restraining the growth of the pet food market.
Decision-making process by understanding strategies that underpin commercial interest concerning the global pet food market growth
The global pet food market size at various nodes of the market
Detailed overview and segmentation of the pet food market as well as its dynamics in the industry
The pet food market size in different regions with promising growth opportunities