The global pet food market size is expected to reach USD 1,17,691.2 million in 2023. During the forecast period 2023 to 2033, global pet food sales are likely to soar at 6.4% CAGR. By 2033, the total market value is projected to cross a mark of USD 2,20,477.1 million.
Demand for pet food is expected to be driven by consumer propensity to keep pets and growing health concerns for said pets. Improved overall digestion and health of pets through the consumption of nutritious food are likewise expected to drive market growth during the forecast period.
There are but negligible differences in pet food products available in the global market. This has led manufacturers to incorporate multifunctional and innovative ingredients into their goods to curb such similarity bias.
As ready-made pet food becomes more popular, convenience will play an important role in the development of this industry. Another segment is organic pet food, a new growing trend in the market.
Increased obtainability of organic products in several flavors and incorporation of essential elements such as probiotics and antioxidants are aspects likely to positively impact worldwide market growth.
Manufacturers frame these products to meet the standard nutritional necessities of livestock. Meat-based ingredients are processed to distil protein components, water, and fat. The manufacturing course also includes cooking, grinding, and mixing the raw resources with other ingredients.
With a rising middle class, rapid urbanization, and an aging population, the United States is becoming a pet-owning society where dogs and cats dominate the share of household pets.
People are welcoming more paws into their families in the United States, and the trend of humanizing pets among owners has been on the rise. This is expected to skyrocket demand for luxury and branded goods for pets - especially food - over the forecast period.
Younger generations are supporting this trend and often bring their pets to the veterinarian for regular check-ups and advice on healthcare and nutritional supplements. With rising incomes, urbanization, and increased health awareness, pet owners are moving to high-quality, natural foods. These foods are free of naturally modified bacteria, artificial colors, and flavors to help promote the health of their pets.
Consumers also prefer specially-formulated foods for their pets since they contain high-quality proteins and vitamins that help uphold healthy skin, digestion, and more.
Key Trends Listed by Future Market Insights (FMI):
| Attributes | Key Insights |
|---|---|
| Pet Food Market Size (2023E) | USD 1,17,691.2 million |
| Pet Food Market Projected Size (2033F) | USD 2,20,477.1 million |
| Value CAGR (2023 to 2033) | 6.4% |
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| Market Statistics | Details |
|---|---|
| Jan - Jun (H1), 2021 (A) | 9.9% |
| Jan - Jun (H1),2022 Projected (P) | 11.2% |
| Jul - Dec (H2), 2022 Projected (P) | 11.9% |
| Jul - Dec (H2), 2021 (A) | 10.5% |
| Jul - Dec (H2), 2022 Outlook (O) | 12.2% |
| Jan - Jun (H1),2022 Outlook (O) | 10.9% |
| Jan - Jun (H1), 2023 Projected (P) | 10.9% |
| BPS Change: H2, 2022 (O) to H2, 2022 (P) | 171 |
| BPS Change : H1,2022 (O) to H1,2021 (A) | 101 |
| BPS Change : H1,2022 (O) to H1,2022 (P) | 30 |
| BPS Change: H2, 2022 (O) to H2, 2022 (A) | -30 |
Based on the analysis conducted by Future Market Insights (FMI), it is anticipated that the market is expected to sustain a moderate growth trajectory in the coming years. The demand for pet food globally is projected to rise at a CAGR of 6.4% through 2033. This represents a significant improvement compared to the CAGR of 4.6% witnessed during the historical period 2018 to 2022.
Manufacturers have been encouraged to shift their focus from synthetic to natural products as a result of rising consumer awareness about natural and organic pet food products. High consumer awareness and demand for less synthetic ingredients have been key factors impacting the global market.
The product type segment is the key growing segment of the market and is estimated to hold around one-third of the market value share, whereas the conventional segment is expected to boost the market growth in the coming assessment period.
Governments in several countries are working to encourage the use of safe and wholesome ingredients to advance the overall health of pets. For instance, the Japanese government introduced the "Pet Food Safety Assurance Act" for pet food producers, importers, and wholesalers to guard pet health and standardize the manufacturing course. Efforts like this will drive the pet food industry as a whole even further.
Consumer demand for transparency while purchasing pet food has been steadily increasing. The Food and Drug Administration (FDA) thus made it mandatory to list and guarantee safety of ingredients used in pet foods on the label by weight.
Pet food claims such as “maintaining urinary tract health,” “low magnesium,” and “hairball suppression” are also highly valued by consumers.
Factors Driving the Market
Factors Restraining the Market
Principal Consultant
| Region | North America |
|---|---|
| Country | The United States |
| CAGR | 4.1% |
| BPS Analysis | -353 |
| Market Value (2033) | USD 39,773.4 million |
| Region | Europe |
|---|---|
| Country | The United Kingdom |
| CAGR | 2.9% |
| BPS Analysis | -225 |
| Market Value (2033) | USD 9,071.4 million |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR | 11.9% |
| BPS Analysis | 795 |
| Market Value (2033) | USD 9,362.4 million |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR | 7.7% |
| BPS Analysis | -764.87 |
| Market Value (2033) | USD 6130.5 million |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR | 6.1% |
| BPS Analysis | -1413.7 |
| Market Value (2033) | USD 9,292.2 million |
Increasing Pet Health Awareness and Humanization Trend Driving the United States Market
Future Market Insights (FMI) analysis indicates that the United States pet food industry is expected to rise at a CAGR of 4.1% surpassing USD 39,773.4 million by 2033.
The United States is considered a pet food industry leader due to its high pet ownership rate and strong economy, which enables pet owners to spend more on their pets. Besides this, the humanization trend has led to an increased demand for high-quality and premium pet food variants in the United States.
A study shows that pet owners are willing to pay more for superior quality pet food, with 50% of American pet owners willing to give up their Netflix subscription to afford premium pet food. Similarly, 55% of French and American pet owners stated that they would give up chocolate to provide high-quality food to their pets.
This shift in consumer behavior has significantly increased retail sales in the pet food industry over the past decade, with a 36% increase in annual pet food spending from 2007 to 2017.
Expansion of E-Commerce Platforms to Surge Pet Food Sales
Future Market Insights (FMI) projects a CAGR of 2.9% for the United Kingdom pet food industry during the assessment period, with a market size of USD 9,071.4 million expected by 2033.
Pet owners in Europe are increasingly concerned about their pets' well-being and seek high-quality nutritional supplements to promote their healthy development. As a result, the demand for pet supplements is rapidly growing worldwide, leading key industry players to pursue acquisitions to expand their product portfolio, market reach, and distribution channels.
For instance, in August 2020, Manna Pro Products acquired Doggie Dailies, a prominent brand in the premium dog supplement market, as a strategic move to reinforce its foothold in the pet supplement industry and leverage the emerging e-commerce trend in the pet product market.
Increased Government Investment in Infrastructure Development Pushing the Market
China's market for pet food is anticipated to attain a market size of USD 9,362.4 million by 2033, with a projected CAGR of 11.9%
China has an aging population, which is leading to more people living alone or in smaller households. Pets are seen as companions and can provide emotional support and companionship, leading to an increase in pet ownership.
Furthermore, the China government has been supporting the pet industry, recognizing it as a growing industry with significant economic potential. This has led to more investment in pet-related businesses and infrastructure, such as pet hospitals and pet-friendly parks.
For instance, there has been a recent launch of the "Pet Industry Development Plan (2018 to 2022)" by China's Ministry of Agriculture and Rural Affairs. The plan aims to develop the pet industry into a pillar industry of the national economy, to reach a market size of RMB 472.3 billion (approximately USD 73.1 billion) by 2022.
This support and investment from the government make China an attractive market for pet food companies looking to expand their business.
Conventional Pet Food to Remain Popular Due to Affordability and Wide Availability
The conventional pet food segment is anticipated to surge at a CAGR of 6.0% reaching a market value of USD 1,71,180.2 million by 2033.
Conventional pet food is more affordable and widely available than organic or mono-protein options. It often contains a variety of ingredients and nutrients, which can help to meet the dietary needs of pets.
Furthermore, some pet owners may prefer conventional pet food because it has a longer shelf life and does not require refrigeration or special storage conditions.
Pet owners are concerned about the effectiveness and safety of organic or mono-protein pet food, as these products may not undergo the same level of regulatory scrutiny as conventional pet food.
Animal-derived Sources Are Palatable, Familiar, and have High Nutritional Value
The animal-derived pet food segment is anticipated to thrive at 5.7% CAGR surpassing USD 1,38,876.9 million by 2033.
Sales of animal-derived pet food products are increasing over plant-derived and insect-derived products owing to the higher demand for high-quality protein sources. They meet the nutritional needs of pets, as well as the palatability and familiarity of animal-based ingredients among pet owners.
Furthermore, animal-derived products are readily available and cost-effective compared to other sources.
Kibble/Dry Product Type Offers Convenience and Longer Shelf Life
Based on product type, demand is expected to remain high for kibble/dry during the assessment period. As per Future Market Insights (FMI), with a market share of around 23.0%, the kibble/dry segment is projected to reach a valuation of USD 50,184.4 million by 2033.
Kibble/dry pet food is cost-effective, has a longer shelf life, and is more convenient to store and feed to pets. Kibble is also available in a wide range of flavors, shapes, and sizes, making it more appealing to pets and their owners.
The production process for kibble allows for easy standardization and quality control, ensuring that the product meets regulatory and safety standards.
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For companies to further increase their market presence in regional and international marketplaces, the key industry players are concentrating on utilizing alternative distribution channels, such as online sales channels.
The majority of the key players are emphasizing acquiring smaller players, while small businesses need to invest heavily in research & development to expand globally and develop new products.
For Instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value, MT for Volume |
| Key Regions Covered | Latin America; East Asia; Europe; South Asia; North America; Oceania; and the Middle East & Africa |
| Key Countries Covered | Canada, Brazil, The United States, Paraguay, Germany, Argentina, The United Kingdom, Italy, Spain, France, Nordic, Poland, China, Russia, India, Indonesia, Thailand, New Zealand, Japan, GCC countries, Australia, and North Africa, South Africa, and others. |
| Key Segments Covered | Nature, Product Type, Source, Pet Type, Packaging, Sales Channel, and Region |
| Profiled Companies | Mars Incorporated; Nestlà Purina PetCare; The J.M Smucker Company; Colgate Palmolive Company; Affinity Petcare SA; Freshpet; Nutro Products Inc.; ADM (Total Alimentos SA); Fromm Family Foods LLC.; Dave's Pet Food |
| Report Coverage | Market Forecast, Market Dynamics and Challenges, Drivers Restraints Opportunity Trends Analysis, Company Share Analysis, Strategic Growth Initiatives, and Competition Intelligence. |
The pet food market is valued at USD 1,17,691.2 million in 2023.
Pet food demand is rising at a CAGR of 6.4%.
The pet food industry is expected to attain a value of USD 2,20,477.1 million by 2033.
Enriched and fortified formulation of pet food items are currently the highlight in the market.
The United States buys a prominent share of pet food.
1. Executive Summary 2. Market Overview 3. Market Dynamics 4. Global Market - Pricing Analysis 5. Value Chain Analysis 6. Global Market Size Value (USD Million) and Volume (MT) Analysis 2018 to 2022 and Forecast, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 7.1. Kibble/Dry 7.1.1. Extruded 7.1.2. Baked 7.1.3. Coated 7.2. Dehydrated Food 7.3. Treats and Chews 7.3.1. Dog 7.3.1.1. Pastes 7.3.1.2. Creams/Cream Snacks 7.3.1.3. Crunchy Snacks 7.3.1.4. Chew Sticks 7.3.1.5. Tablets 7.3.1.6. Biscuits 7.3.1.7. Jerky 7.3.1.8. Rawhide 7.3.2. Cats 7.3.2.1. Pastes 7.3.2.2. Creams/Cream Snacks 7.3.2.3. Crunchy Snacks 7.3.2.4. Chew Sticks 7.3.2.5. Tablets 7.3.2.6. Biscuits 7.3.2.7. Cat Milk/Milk Snacks 7.4. Freeze-Dried Raw 7.5. Wet Food 7.6. Frozen 7.7. Raw Food 7.8. Powder 7.9. Freeze-Dried Food 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 8.1. Animal-Derived 8.1.1. Fish 8.1.2. Chicken 8.1.3. Duck 8.1.4. Beef 8.1.5. Pork 8.1.6. Venison/Game 8.1.7. Lamb 8.1.8. Turkey 8.2. Plant-Derived 8.3. Insect-Derived 8.3.1. Crickets 8.3.2. Mealworms 8.3.3. Black Soldier Flies 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Pet Type 9.1. Cat 9.1.1. Kitten 9.1.2. Senior 9.2. Dog 9.2.1. Puppy 9.2.2. Adult 9.2.3. Senior 9.3. Birds 9.4. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Nature 10.1. Organic 10.2. Monoprotein 10.3. Conventional 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. East Asia 11.5. South Asia 11.6. Oceania 11.7. Middle East & Africa 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. Country-level Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. Ambar 0.0 21.2. Mars, Incorporated 21.3. Nestlé Purina PetCare 21.4. Colgate Palmolive (Hill's Pet Nutrition) 21.5. Affinity Petcare SA 21.6. Nutro Products Inc. 21.7. Unicharm PetCare Corp. 21.8. Archer-Daniels-Midland Company (Total Alimentos SA) 21.9. The J.M. Smucker Company 21.10. Fromm Family Foods LLC 21.11. Dave's Pet Food 21.12. Boulder Dog Food Company 21.13. Rollover Ltd. 21.14. Real Company 21.15. Party Animal, Inc. 21.16. Freshpet 21.17. Burgess Group PLC 21.18. Nature’s Variety 21.19. JustFoodForDogs 21.20. Steve's Real Food 21.21. Other Players (On Additional Requests) 22. Assumptions and Acronyms Used 23. Research Methodology
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