The global animal-based pet protein market size is projected to exhibit modest growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is predicted to surpass a valuation of USD 79,352 million in 2023. It is anticipated to reach a valuation of USD 121,923 million by 2033. The market is estimated to showcase a considerable CAGR of 4% from 2023 to 2033.
Increasing demand for pet food owing to the recent trend of pet parenting is expected to boost the animal-based pet protein market. Surging research and development in pet food processing and technological advancements to offer new and innovative products will attract consumers and improve brand loyalty. A key factor underpinning the growth in protein-rich pet food market is the gradual increase in the pet ownership, opines Future Market Insights (FMI).
Increasing pet ownership is expected fuel the demand for treats, toys, and other pet food products. The increasing adoption of cats, birds and dogs as companion for families is another factor driving the pet food market. For instance, Japan has a greater number of pets as compared to the number of children under 15 years, and had 21.3 million registered pets, which includes cats and dogs.
Additionally, rising concerns about the pet food among pet owners and the nutritional benefits it offers are boosting the market. Nutrition is an important factor and products failing to qualify consumer expectation with regards to the same often get negatively affected. Thus, animal-based pet protein manufacturers have started incorporating high nutritional value in their products to cater the needs of the consumers.
Over the years, there has been a shift in preference towards minimally processes and natural pet foods. Pet owners are increasingly looking for pet foods that are free from additives, artificial preservatives, and fillers. This has led to increased product premiumization. Premiumization of animal-based pet protein foods is likely to provide ample growth opportunities for market players.
| Attributes | Details |
|---|---|
| Animal-based Pet Protein Market Share (2022) | USD 76,300 million |
| Animal-based Pet Protein Market Share (2023) | USD 79,352 million |
| Animal-based Pet Protein Market Share (2033) | USD 121,923 million |
| Animal-based Pet Protein Market Share (2023 to 2033) | 4% |
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The global animal-based pet protein market expanded at a modest CAGR of 2.4% from 2018 to 2022. In 2018, the global market size stood at USD 1,922.5 million. In the following years from 2018 to 2022, the market witness significant growth, accounting for USD 76,300 million in 2022.
| Historical CAGR (2018 to 2022) | 2.4% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 4% |
Growing population of old pets is a key trend increasing the sales of animal-based pet proteins. Pet food and pet care companies are likely to capitalize on this trend to offer products and services covering the evolving needs of ageing animals. This is also expected to ensure the pet owners’ loyalty to brands ‘from kennel to grave’.
With rising trend of pet humanization, pets are treated as an integral part of the family and are also called as ‘fur-babies’. Raw meat diet is the upcoming trend in the market and is considered as a high source of protein which offers nourishment to the pets. Due to this, demand for animal-based pet protein is expected to surge.
| Time Frame | Growth Factors |
|---|---|
| Short Term (2023 to 2026) |
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| Medium Term (2026 to 2029) |
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| Long Term (2029 to 2033) |
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Demand for dry type animal-based pet protein is expected to increase with a remarkable CAGR. The segment is likely to account for approximately 40% value share of the global market by 2023. On the other hand, wet pet food type is expected to register a CAGR of more than 4% and hold market share of about 30% by 2023. Dry animal-based pet protein is cost-effective and convenient. It is easy to store and has a longer shelf life than wet animal-based pet protein, making it convenient to buy and store in bulk. These factors are likely to boost the demand for dry animal-based pet protein over wet animal-based pet protein.
In terms of distribution channel, store-based retailing is expected to account for a market share of nearly 87%. However, online retailers are predicted to expand their operations and exhibit at a CAGR of 5.7% in the coming decade. The increasing e-commerce industry and the rising inclination towards online shopping is likely to aid the segment’s expansion. The ease and convenience factors support online channel segment’s growth. Additionally, online retailers frequently offer discounts and competitive prices which a pet owner shall not be able to avail in physical stores.
Principal Consultant
As per FMI, the United States market is anticipated to exhibit monumental growth. The United States accounted for 24.1% of the total revenue value share in North America animal-based pet protein market in 2022. This is attributable to the increasing awareness about the importance of including protein in an animal’s food. Moreover, the demand for different sources of protein in pet food is expected to remain high in the United States market. Backed by these factors, the United States is expected to dominate the global animal-based pet protein market.
FMI estimates, Asia Pacific will exhibit positive growth with increasing demand for high quality pet food products across emerging economies. China, India, and Japan are expected to emerge as lucrative markets in the region, attributed to the growing culture of pet parenting in these countries. Furthermore, India held a massive 19.4% market share in 2022. While, China held a market share of 2.9% of the overall East Asia animal-based pet protein market in 2022.
The global animal-based pet protein market is a moderately competitive with tier-1 players holding nearly 35% - 40% share of the market. Expansion of the business through mergers, acquisitions, collaborations, and alliances is the primary strategy followed by key players. They are also adopting new technologies to develop innovative products, and collaborating with sales channels to expand their customer base.
For instance, pet food processing companies are adopting a new idea of using crickets that are roasted and grounded which serve as a vital source of protein in pet food. They have negligible water and land requirement hence will promote companies to produce more quantity of food with less investment.
Meanwhile, leading players such as Mars Petcare Inc. and Nestle Purina Pet Care are investing heavily in research & development to introduce natural and plant-based alternatives that can nutritionally replicate their animal-based counterparts. This is expected to drive local players’ attention towards biotechnology for the development of vegan high protein pet foods in the coming years.
Recent Developments Observed by FMI:
Key Players in Animal-based Pet Protein Market:
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | MT for Volume, USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of Europe, Brazil, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Product Type, Pet Type, Nature, Packaging, Distribution Channel, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The 2023 market value is USD 79,352 million.
Until 2033, the market will rise at a 4% CAGR.
By 2033, the market will total USD 121,923 million.
Increasing number of pet owners drives market expansion.
United States will be a highly lucrative market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Dry 5.2. Wet 5.3. Treats & Chews 5.4. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Pet Type 6.1. Cat 6.2. Dog 6.3. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Nature 7.1. Organic 7.2. Conventional 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 8.1. Hypermarket/Supermarket 8.2. Convenience Stores 8.3. Pet Stores 8.4. Online Retailers 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. Middle East & Africa (MEA) 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Mars Petcare Inc. 17.2. Nestlé Purina Pet Care 17.3. Hill's Pet Nutrition 17.4. The J.M. Smucker Company 17.5. Merrick Pet Care Inc. 17.6. Colgate-Palmolive Company 17.7. General Mills Inc. 17.8. Heristo AG 17.9. Diamond Pet Foods 17.10. WellPet LLC 18. Assumptions & Acronyms Used 19. Research Methodology
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Animal-based Pet Protein Market
