Pet Food and Supplement Market

Pet Food and Supplement Market Outlook from 2024 to 2034

Recent research from Future Market Insights suggests that the global pet food and supplement market is poised to reach a value of USD 119.1 billion by 2024. Projections indicate a substantial surge to USD 210.0 billion by 2034, showcasing an impressive growth trajectory. The expansion is indicative of a CAGR of 5.8% over the forecast period.

Attributes	Key Insights
Pet Food and Supplement Market Estimated Size in 2024	USD 119.1 billion
Projected Market Value in 2034	USD 210.0 billion
Value-based CAGR from 2024 to 2034	5.8%

Market Motivators Enhancing Market Growth

• There is an increasing demand for specialized pet foods and supplements tailored to address health concerns.
• E-commerce boom has made it easier for pet owners to access a wide variety of pet supplements.
• Innovations in product formulations will cater to specific dietary needs and preferences.
• The manufacturers are also expanding their distribution channels to reach a wider audience.

Barks and Purrs Everywhere- The Culinary World of Pet Food and Supplements to Widen Substantially

Sales of pet food and supplements rose at a 7.5% CAGR between 2019 and 2023. The global market is achieving heights to grow at a moderate CAGR of 5.8% over the forecast period 2024 to 2034.

The market witnessed a significant growth during the historical period, attributed to the factors such as increasing pet ownership.

Pet owners increasingly view their pets as members of the family and seek products that mirror human food trends, such as organic, natural, and functional ingredients. Rising awareness of pet health and wellness has led to increased demand for high quality pet supplements.

Pet owners are becoming more conscious of the nutritional needs of their pets and are willing to invest in products to maintain their health. Urbanization and changing lifestyles will continue to shape pet ownership trends and preferences.

Advancements in nutrition science and pet health research will drive innovation in pet supplement formulations. The market will continue to expand into emerging markets with rising pet ownership rates and increasing disposable incomes. The trend presents opportunities for brands to tap into new consumer demographics and preferences.

Major Contributors of the Market

• Awareness of environmental and ethical concerns is accelerating the demand for sustainable and ethically sourced pet food.
• Focus on convenience has led to the growth of products such as freeze dried and dehydrated pet foods.
• Customization has led to the emergence of personalized pet food formulations based on factors including age, size, and health conditions.
• Rise of functional ingredients enriched with functional ingredients that offer specific health benefits.

Factors Hampering the Market

• Rising ingredient costs can affect the profitability of pet food manufacturers.
• Health and safety concerns can erode consumer trust and confidence in certain brands or product categories.
• Consumer shifts in preferences could impact purchasing decisions in the market.
• Negative public perception could influence consumer perceptions and purchasing behavior.

Country-wise Insights

Premiumization of Products to Augment the Market Growth in the United States

Country	The United States
CAGR through 2034	6.2%

The pet food and supplement market in the United States will expand at a CAGR of 6.2% through 2034. Pet owners in the United States are increasingly willing to pay a premium for high quality pet food.

They are drawn to products made with natural ingredients, free from artificial additives and preservatives, and sourced from trusted suppliers. Premiumization drives growth in the market as pet owners seek products that offer superior quality and nutritional value for their pets.

There is a growing emphasis on pet health and wellness in the United States, with pet owners seeking products that support the overall health of the pets, address specific health concerns, as well as provide functional benefits. The trend drives demand for products such as joint supplements, probiotics, and premium pet foods formulated for specific health needs.

E-commerce Boom Will Boost the Market Growth in the United Kingdom

Country	The United Kingdom
CAGR through 2034	7.1%

The pet food and supplement market in the United Kingdom to expand at a CAGR of 7.1% through 2034. The growth of e-commerce has transformed the market in the country, providing consumers with convenient access to a vast selection of products.

Online retailers offer competitive pricing, subscription options, and home delivery, driving significant growth in online pet product sales.

The industry in the United Kingdom benefits from a diverse range of distribution channels, including pet specialty stores, online retailers, supermarkets, and veterinary clinics. The expansion of distribution channels makes it easier for pet owners to access a wide variety of products, driving market growth.

Urbanization and Lifestyle Trends to Open up Avenues for the Market in China

Country	China
CAGR through 2034	6.6%

Pet food and supplement trends in China are taking a turn for the better. A 6.6% CAGR is forecast for the country from 2024 to 2034. Urbanization in China has led to smaller living spaces and an increase in single person households, where pets often serve as companions.

Busy urban lifestyles leave pet owners with less time to prepare homemade pet food, driving demand for convenient and nutritious commercial pet supplements. The expanding middle class population in China has greater purchasing power and is increasingly willing to spend on premium products for their pets. The demographic shift contributes to the rising demand for high quality pet food.

Government Support and Regulations to Stimulate the Market Growth in Japan

Country	Japan
CAGR through 2034	7.6%

The pet food and supplement market in Japan is poised to expand at a CAGR of 7.6% through 2034. The Japanese government has implemented regulations to ensure the safety and quality of supplements.

The regulations provide a level of assurance to consumers and contribute to the overall growth of the market by fostering consumer trust. Manufacturers in Japan are continually innovating to develop new and improved pet food formulations. This includes the use of novel ingredients, advanced processing techniques, and specialized formulations to cater to specific dietary needs and preferences.

Rise in Pet Health Awareness Campaigns to Fuel the Market Prospects in Korea

Country	Korea
CAGR through 2034	8.0%

The pet food and supplement market in Korea will expand at a CAGR of 8.0% through 2034. There has been an increase in pet health awareness initiatives in Korea, aimed at educating pet owners about the importance of proper nutrition and supplementation well-being of pets.

The campaigns help drive demand for high quality pet food among conscientious pet owners. Korea has been implementing pet friendly policies and improving pet related infrastructure, such as pet parks, pet friendly cafes, and pet friendly accommodations.

The initiatives encourage pet ownership and contribute to the overall growth of the pet industry, including the demand for pet food and supplements.

Category-wise Insights

The below table highlights how dog segment is leading the market in terms of pet, and will account for a CAGR of 5.6% through 2034. Based on source, the conventional segment is gaining heights and will to account for a CAGR of 5.4% through 2034.

Category	CAGR through 2034
Dog	5.6%
Conventional	5.4%

Dog Segment Witnesses High Demand for Pet Food and Supplement

Based on pet, the dog segment will dominate the market growth in the coming years. Pet owners value convenience when it comes to feeding and supplementing their dogs.

Manufacturers are innovating to offer convenient and easy to administer products, such as soft chews, liquid supplements, and single serve packaging, making it easier for pet owners to incorporate supplements into daily routines of their dogs.

Increasing awareness of preventive healthcare and the importance of nutrition in the overall health of the dogs has led to a growing interest in dietary supplements among pet owners. Supplements targeting specific health concerns, such as joint support, immune health, and dental care, are gaining popularity in the dog segment.

Conventional Segment to Hold High Demand for Pet Food and Supplement

In terms of source, the conventional segment will dominate the pet food and supplement market. Conventional pet supplements are widely available across various retail channels, including supermarkets, pet stores, and online platforms.

Their accessibility makes them convenient options for pet owners who may not have access to specialty or organic pet products in their area. Conventional pet food and supplements typically use less expensive ingredients and production methods compared to organic alternatives.

The cost effectiveness appeals to price conscious consumers, especially those with multiple pets or larger breeds that require larger quantities of food and supplements.

Competitive Landscape

The competitive landscape of the pet food and supplement industry is dynamic and multifaceted, characterized by a diverse range of players vying for market share.

Company Portfolio

• Mars Petcare offers a diverse portfolio of pet food and supplement products catering to various dietary needs and preferences of pets. Their range includes both dry and wet food options, as well as specialized diets for specific health concerns such as weight management or sensitive stomachs.
• Nestlé Purina Petcare is renowned for its extensive line of pet supplement offerings. Their supplements are designed to complement these diets and support optimal pet health.

Key Coverage in the Pet Food and Supplement Industry Report

• Pet food trends
• Healthy pet nutrition
• Premium pet supplements
• Organic pet food
• Holistic pet care
• Specialty pet diets
• Pet Insurance Market
• Pet Toys and Accessories Market

Report Scope

Attribute	Details
Estimated Market Size in 2024	USD 119.1 billion
Projected Market Valuation in 2034	USD 210.0 billion
Value-based CAGR 2024 to 2034	5.8%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value in USD Billion
Key Regions Covered	North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa;
Key Market Segments Covered	Product Type, Source, Distribution Channel, Food Type, Region
Key Countries Profiled	The United States, Canada, Brazil, Mexico, Germany, France, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel
Key Companies Profiled	Mars Petcare; Nestlé Purina Petcare; Hill's Pet Nutrition; The J.M. Smucker Company; Blue Buffalo; Diamond Pet Foods; Spectrum Brands; Nutro Products; Wellness Pet Food; Merrick Pet Care; Ainsworth Pet Nutrition

Segmentation Analysis of the Pet Food and Supplement Market

By Product Type:

• Dog
• Cat
• Freshwater Fish
• Others

By Source:

• Organic
• Conventional

By Distribution Channel:

• Offline
• Online

By Food Type:

• Wet Food
• Dry Food
• Snacks/Treats

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• The Middle East and Africa

Frequently Asked Questions

What is the value of the Pet Food and Supplement market in 2024?

The market is projected to reach a valuation of USD 119.1 billion in 2024.

What is the CAGR for the Pet Food and Supplement market until 2034?

The pet food and supplement industry is set to expand by a CAGR of 5.8% through 2034.

What value is projected for the Pet Food and Supplement market in 2034?

The market is forecast to reach USD 210.0 billion by 2034.

Which country leads in the Pet Food and Supplement market?

Korea is a top performing market, exhibiting a CAGR of 8.0% through 2034.

Which Pet Food and Supplement type will generate high sales?

Dog pet food and supplement sales will rise at a CAGR of 5.6% through 2034.