The Global Pet Food industry is estimated to be worth USD 125.2 billion by 2024. It is projected to reach USD 232.8 billion by 2034, reflecting a CAGR of 6.5% over the assessment period 2024 to 2034.
Pets carry a major role in people's lives as they improve the environment and helps improve both the emotional and physical health of human owners. Pet ownership has increased significantly worldwide, leading to an increase in the pet food market. Animals, too, have particular nutritional requirements that are different from those of humans and they can be that varied among them.
Pet animals can be sensitive to certain pathogens, but they may be especially vulnerable to mycotoxins and drugs. Companies such as Blue Buffalo have taken the lead in this market by introducing a variety of product lines that incorporate real, high-quality chicken and exclude by-products from chicken or poultry, as well as corn, wheat, or soy.
They emphasize the inclusion of "Lifesource Bits" in their pet foods, a premium blend of antioxidants, vitamins, and minerals that supports the immune system, balances oxidative health and meets the energy requirements of pets at different life stages.
Products that provide appropriate nutrition, utilize affordable and sustainable ingredient formulations, and meet cultural preferences are poised to drive further growth in the pet food market, satisfying the needs for the good health and well-being of companion animals.
| Attributes | Description |
|---|---|
| Estimated Global Pet Food Industry Size (2024E) | USD 125.2 billion |
| Projected Global Pet Food Industry Value (2034F) | USD 232.8 billion |
| Value-based CAGR (2024 to 2034) | 6.5% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The below table presents a comparative assessment of the variation in CAGR over six months for the base year (2023) and current year (2024) for the global Pet Food market.
This analysis reveals crucial shifts in performance and indicates revenue realization patterns, thus providing stakeholders with a better vision of the growth trajectory over the year. The first half of the year, or H1, spans from January to June. The second half, H2, includes the months from July to December.
| Particular | Value CAGR |
|---|---|
| H1 | 5.2% (2023 to 2033) |
| H2 | 5.5% (2023 to 2033) |
| H1 | 5.9% (2024 to 2034) |
| H2 | 6.2% (2024 to 2034) |
In the first half (H1) of the decade from 2023 to 2033, the business is predicted to surge at a CAGR of 5.2%, followed by a higher growth rate of 5.5% in the second half (H2) of the same decade. Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to increase to 5.9% in the first half and remain considerably high at 6.2% in the second half.
Revolutionizing the Customization of Pet Food with Smart Packaging and Marketing
Smart packaging and data-driven marketing have proved to be essential elements, which are at the forefront of creating better customer experiences along with customizing products in the pet food industry. Smart packaging includes QR codes, near-field communication chips (NFC), and radio frequency identity tags (RFID) which help create interactive and informative packaging for consumers seeking definitions, nutrition facts, and suggestions on pet foods.
This technology works as a transparency factor and trust between consumers and manufacturers, where evidence about sourcing ingredients used in the products, sustainability efforts, and authenticity of products are provided to consumers.
Pet food companies use smart packaging to incorporate the possible customer personalization of pet owners. It provides benefits to consumers, allowing them to make more informed choices for their pets' diets.
Many brands are analysing various key points to analyse consumer preference patterns through social media marketing and improve their product development, by developing specific marketing strategies, justifying ad promotions within the activity, and giving on-point recommendations for every single pet owner.
Nestlé Purina and Mars Petcare are known for using the data obtained from consumers in production to provide formulations that match the customer's needs for a specific animal regarding its health goals.
Customizing Pet Diets by Genetic Profiling and Functional Ingredients
The advances in nutritional sciences have changed the pet food market by bringing in highly personalized diets. Specifically, genetic profiling brings in a scenario where companies develop dedicated nutritional plans tailored to a pet's unique genetic profile used in solving problems like obesity, allergy, or breed-specific conditions.
Ingredients such as probiotics, omega-3 fatty acids, antioxidants, and vitamins addressing major health areas like digestive issues, immune support, and joint health are examples of functional foods. An example is Hill Science's Diet pet products, formulated under certain specifications for better kidney health and weight management.
Pet genomic technologies further help in identifying risks of certain diseases, thus allowing pet owners to choose diets that lessen such risks. Thus, a personalized approach not only enhances pet health but also reduces costly vet visits.
Innovations in pet food are setting trends and making affirmations for instance Pawfectlymade and Blue Buffalo Co., Ltd. have confirmed the use of genetic testing in formulating customized diets, moving toward well-scientifically-informed and therefore individualized nutrition for pets.
Insect and Plant Protein Alternatives for Sustainable Protein Solutions in Pet Food
The sustainability factor is a primary catalyst in the changing preference patterns in pet food, which has led the shift from animal protein to insect and plant proteins.
Insects such as crickets, mealworms, or black soldier flies have started capturing the attention of consumers as they fulfil the demand for useful protein content and essential amino acids while also exhibiting a low ecological footprint.
For example, insect farming uses less water, land, and energy, and emits fewer greenhouse gases compared to conventional animal farming. This makes it an environmentally viable solution, also adopted by companies like Yora and Entomo Farms, which are promoting insect-based pet food based on increasing numbers of eco-friendly pet owners.
Plant-derived proteins have also started dominating the market to manufacture allergen-free but sustainable pet food formats. Peas, lentils, chia seeds, sweet potatoes, etc., are a few protein-rich ingredients utilized by many brands due to their nutritional contributions including fibre, vitamins, and minerals.
Brands such as Beyond Meat or V-Dog incorporate purely plant-based formulations for pets and orient their marketing efforts to health- or eco-conscious consumers. Like insects, plant-based proteins are highly digestible and hence appropriate for pets with food intoleranc.
Principal Consultant
Global sales increased at a CAGR of 5.5% from 2019 to 2023. For the next ten years (2024 to 2034), projections are that expenditure on such products will rise at 6.2% CAGR.
Between 2019 to 2023, the rise in innovation in pet food products has led to increased awareness among consumers about the sources, types, preventive measures on the overall health and well-being of pets.
There is a worldwide trend among the manufacturers towards adoption of natural ingredient based formulations to satisfy the consumer needs and concerns on various grounds. Nestlé Purina PetCare and Unicharm Corporation are among the leading market players in the pet food industry.
Merrick Pet Care, Inc. gained a competitive edge by focusing on organic, plant-based recipes and quality ingredients, aligning with the growing clean-label trends. Blue Buffalo Co., Ltd. offers a “True BLUE” test to help its consumers compare several brands on the basis of healthy and wholesome ingredient levels.
From 2024 to 2034, the pet food market growth is to set to rise through scientific advancement and innovation via customised solutions and incorporation of natural sustainable ingredients. In this period, the demand for customised pet food products will rise continuously, due to shift in consumer preferences for natural and eco-friendly options.
Integration of various technologies in formulating and manufacturing personalized formulations will also play a key role in expanding the market and meeting diverse consumer needs.
Tier 1 comprises the companies Mars Petcare Inc., Nestlé Purina PetCare, Hill's Pet Nutrition, J.M. Smucker Company, Blue Buffalo Co., Ltd., and Unicharm Corporation. Pet food industry dominators, these companies enjoy a global presence and have approximately 65% market share.
They are also known for their detailed attention and focus in their activities which helps to enhance innovation, research, and product development. Tier 1 companies are known for their innovative solutions and production of quality product lines aimed at improved solutions, effective distribution, sustainability, and cutting-edge advancements.
Tier 2 companies in the pet food market are regional players with stable market coverage, offering niche products tailored to specific consumer needs. These companies focus on addressing specific concerns.
These include Agrolimen SA, Nisshin Pet Food, Inc., Total Alimentos SA, Ainsworth Pet Nutrition, WellPet LLC, Sunshine Mills, Inc., PLB International Inc., Simmons Pet Food, Inc., and Merrick Pet Care, Inc. For instance, Merrick Pet Care is known for its products produced using high-quality ingredients and no artificial preservatives.
Tier 3 companies are smaller and localized players who focus on specific regional needs. They do not possess the same level of research and development as Tier 1 companies, but they continuously focus on providing personalized products that cater to their target consumers.
These companies offer affordable, niche products tailored to regional dietary preferences and specific health concerns. These companies often stand out for their strong customer service, community engagement, and ability to address the unique health requirements of their local markets.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The following table shows the estimated growth rates of the top three territories. China and India are set to exhibit high consumption, recording CAGRs of 6.9% and 6.3%, respectively, through 2034.
| Countries | CAGR 2024 to 2034 |
|---|---|
| Brazil | 5.9% |
| India | 6.3% |
| China | 6.9% |
The increasing disposable incomes, urbanization, and the trend of pet ownership among younger demographics are set to boost the growth of the pet food market in China. As Chinese consumers view pets as family members, their health and nutrition are a priority, so they spend on quality, premium-priced foods to manage their well-being.
Several international and local brands such as Nestlé Purina and Myfoodie have reached out to this market through their digital engagement and localization strategies. These companies have invested heavily in interactive marketing coupled with influencer and live-stream shopping events to connect directly with pet owners, share benefits, and incorporate health education around premium pet food consumption.
Brands are producing flavours and using ingredients tailored to local preferences, including traditional Chinese herbs and other familiar ingredients known for their health benefits. In addition to specialized functional pet foods for specific health-related concerns, like immune support, digestive health, and joint care, the country's pet food market is predicted to hold steady growth.
Besides, many brands in China launch specialized products that cater to the life-stage or breed-specific nutrient requirement and address its unique needs. Royal Canin, for example, has specialized formulations designed for specific breeds and ages, thus attracting significant levels of consumers. Health, food safety, and increasing personalization are the trends shaping consumer preferences; therefore, driving the dynamics of the market.
Indian pet owners traditionally fed homemade food to their pets. However, as people have become busier and more aware of the health benefits of pet nutrition, they are increasingly choosing packaged, nutritionally balanced food.
To cater to these demands, manufacturers such as Mars Petcare, and Drools, are targeting the affordability principle to attract consumers' sensitive spending behaviours. For example, Drools has further expanded its breed-specific offering for popular breeds, such as Labradors, Beagles, and German Shepherds.
Drools is marketing the incorporation of naturally sourced fresh ingredients to earn consumer trust through its efforts concerning transparency and quality. It has also initiated an association with veterinarians by launching campaigns that include explaining the benefits of customized nutrition to motivate a shift from homemade diets to commercially produced pet food. This is particularly relevant for the pet nutrition market in India, which is still emerging.
Several e-commerce platforms such as Amazon India, Flipkart, and websites devoted to pets like Heads Up for Tails, make vast amounts of products available across the entire country, including small cities and towns.
This accessibility has enabled premium and imported pet food to be tested in major parts of the towns and cities. Rising pet humanization has led Indian pet owners to spend considerably on treats or functional foods like soy-free, grain-free, high-protein, or age-specific formulas.
One of the largest pet food markets in Latin America is Brazil. The swift rise in the pet population has led consumers to change their preferences to more premium and highly nutritious food for their pets. The popularity of naturally and organically formulated pet foods which further coincides with wider health and sustainability has led to the stable growth of this market.
Brands such as Premier Pet and Total Alimentos are leading the trends by introducing a range of premium nutritious options. Premier Pet, for example, is marketing their different grain-free and organic pet foods to facilitate health needs in pets, and, Total Alimentos is more directed on probiotics and natural additives, which will help promote joint health, skincare, and gastrointestinal support.
Companies are equally paying attention to locally sourced, sustainable ingredients to be used in their products, hence attracting more consumers who are consistent with their values. The Brazilian government is also playing an essential role by enforcing strict quality and safety standards for pet foods, thus providing favourable conditions for premium brands to flourish.
Sustainable advertising efforts emphasize eco-friendly packaging to reduce environmental impact. This resonates with ethically concerned pet owners willing to spend more. A strong distribution network and in-store service to customers for consultations or demonstrations of products have created opportunities for brands to notify customers about the benefits of their specific premium foods.
| Segment | By Product Type |
|---|---|
| Value Share (2024) | 42.5% |
Chews and Treats are among the fastest-growing segments of the global pet food market, especially for dogs. This high-intensity segment has witnessed many changes within a very short time, with the rising demand providing functional, health-oriented treats rather than just pampering the pet animals.
Pet owners are more interested in functional treats that not only ensure their pets' well-being but also target specific health needs such as healthier teeth, digestive health, skin and coat condition, and even anxiety relief. With this, brands like Greenies and Pedigree Dentastix are on the lead with their dental chews, which help in plaque and tartar reduction while providing a satisfying chewing experience to dogs.
Jerky and rawhide product types are also widely known for fulfilling the requirement of natural ingredients by serving several health benefits and overall well-being. Moreover, premium and niche products such as functional chews are priorities that support joint health, muscle health, and digestion. For example, glucosamine and probiotics-influenced treats are becoming more popular among customers who want to keep their dogs healthy while providing them with delicious food.
Many companies are beginning to invest much more in innovative formulations that utilize high-quality ingredients instead of artificial chemicals and additives. These companies are all responding to the trends of pet humanization in which pets are taken as family members.
The cat treat segment has also expanded, particularly in milk snacks and creamy snacks, popular for its texture and flavour features. The category of chew treats is likely to grow strong since it attracts pet lovers who adore giving their pets high-end quality and convenience for different pet animals.
| Segment | By Source |
|---|---|
| Value Share (2024) | 22.7% |
The pet food market is dominated by the animal source segment which mainly includes fish, chicken, and beef as the top choices for proteins. Salmon, especially whitefish, is the most popular protein source utilized by major companies because it contains a high content of omega-3 fatty acids that promote healthy skin and coat for pets, thus satisfying consumer demands.
Chicken is the most common protein in pet foods because of its excellent digestibility properties, availability at a cheaper cost, and lower energy input demand for dogs and cats.
Beef is another key protein used in many premium formulations for high-energy or special dietary needs in dogs and cats. With pet owners increasingly turning to high-quality proteins for pets, lamb and turkey are emerging as premium products marketed for their hypoallergenic properties, making them excellent for pets with food sensitivities.
Apart from the usual proteins, duck, pork, and venison are getting popular among new source avenues for pet foods targeting niche markets. These sources are marketed as "novel or exotic proteins", usually considered as a treat for pets.
Plant-based ingredients are also on the rise due to the growing demand for sustainable sources of pet food that are non-allergic. Companies are developing formulations with peas, lentils, and sweet potatoes among other ingredients to facilitate high-quality, plant-based protein-based food.
The segment for insect-derived proteins like crickets, mealworms, and black soldier flies is growing among the Asian countries, due to their cultural practices and nutritional features of this category. These products are enriched with protein, amino acids, and fatty acids, thus making these insects a very good substitute for conventional animal-derived sources.
As more consumers are learning about the benefits of insect-derived protein, it is set to form a significant part of the pet food industry, paving the way for sustainability and innovation for pet nutrition in the future.
The competition landscape of the Pet Food market is intense with companies such as ADM, Cargill, Incorporated, Hill's Pet Nutrition, Mars Petcare Inc., Nestlé Purina PetCare, Blue Buffalo Co., Ltd., and others.
These are the major market players who contribute significantly in terms of product innovation, research, and development investment to tackle the market requirements. Such companies also seek to multiply the investment according to the required production technologies that they can dedicate to efficient formulations. To expand their sales, manufacturers are embracing different strategies acquisitions, and collaborations.
For instance
As per Nature, the industry has been categorized into Organic, Monoprotein, and Conventional.
As per Product Type, the industry has been categorized into Kibble/Dry (Extruded, Baked, Coated), Dehydrated Food, Freeze Dried Cooked, Freeze-Dried Raw, Wet Food, Frozen, Raw Food, Powder, Treats and Chews [Dog (Pastes, Crèmes, Crunchy snacks, Chew sticks, Tablets, Biscuits, Jerky, Rawhide), Cat (Pastes, Crèmes, Crunchy snacks, Chew sticks, Tablets, Biscuits, Cat Milk / Milk snacks)].
This segment is further categorized into Animal-Derived (Fish, Chicken, Duck, Beef, Pork, Venison, Lamb, and Turkey), Plant-Derived, Insect-Derived (Crickets, Mealworms, Black Solider Flies).
As per animal type this segment is categorized into Cat (Kitten, and Senior), Dog (Puppy, Adult, and Senior), Birds, and Others (Rabbits, Hamsters, etc.).
Industry analysis has been carried out in key countries of North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, Central Asia, Russia & Belarus, Baltic and Balkans Countries and the Middle East & Africa.
The global industry is estimated at a value of USD 125.2 billion in 2024.
Sales increased at 5.4% CAGR between 2019 and 2024.
Some of the leaders in this industry include Simmons Pet Food, Inc., Merrick Pet Care, Inc., ADM, Nature's Variety, Cargill, Incorporated, Hill's Pet Nutrition, Mars Petcare Inc., and Nestlé Purina PetCare.
China is projected to hold a revenue share of 14.2% over the forecast period.
The industry is projected to grow at a forecast CAGR of 6.5% from 2024 to 2034.
Explore Food and Beverage Insights
View Reports
Pet Food Market
