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Global Pet Food Market Insights, Overview, Analysis and Forecast 2024

Pet Food Market is expected to register rapid growth during the forecast period due to the increasing awareness among consumers about digestive disorders, healthier lifestyle, high energy level, healthy weight, and longer lifespan for their pets. Additionally, innovation in products and various marketing strategies to increase the popularity of pet food by key players in the market are also expected to drive the market growth. The players in the market are expanding their product lines of pet food, to provide enhanced and high-quality products. For instance, since 2015, Nestlé Purina PetCare Company—a part of Switzerland based company Nestle S.A.—started offering Purina Pro Plan Savor Shredded Blend; this product included hard, dry kibble mixed with tender meat, to provide enhanced taste and texture to the product. The global market is projected to garner a revenue of USD 121.43 billion by 2024, registering a CAGR of 5.4% during the forecast period of 2019–2024. Pet food is gaining acceptance globally owing to increasing health concerns about their pets among the consumers. Increasing awareness among the consumers regarding the nutrition required by the pets and benefits of these products are some of the factors driving the growth of the global pet food industry

 

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Market Segmentation

  1. to MRFR analysis, the global pet food market has been segmented into pet type, product type, distribution channel, and region. By pet type, the global market has been classified as cat, dog, fish, and others. The dog segment holds the major market share in global market and is also expected to be the fastest-growing segment. Based on product type, the global market has been bifurcated into dry food, wet food, snacks & treats. The dry food segment accounts for the largest share in the global market; this segment is also projected to exhibit the highest CAGR during the review period. The global pet food industry has been categorized, on the basis of distribution channel, as store-based and non-store-based. The store-based segment has further been divided into supermarkets and hypermarkets, specialty stores, and others. The store-based segment is expected to dominate the market. However, the non-store-based segment is expected to account the higher growth rate during the review period of 2019 to 2024. The global pet food market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.

 

 

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 Regional Market Summary

In 2018, North America accounted for the largest market share; this can be attributed to the increasing pet adoption rate. Also, growing number of organizations and pet farm for pet care is also increasing the sales of pet food. The market in Asia-Pacific is expected to register the highest growth rate in the global market. Increasing awareness among consumers about pet food and homemade food consisting of separate nutritional elements, and that pets need to be fed a diverse range of nutrition, as part of an adequate diet. Which, in turn, is projected to boost the growth of the Asia-Pacific pet food market.

Global Market, By Pet Type

  • Cat
  • Dog
  • Fish
  • Others

 

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 Global Market, By Product Type

  • Dry Food
  • Wet Food
  • Snacks & Treats

Global Market, By Distribution Channel

  • Store-Based
    • Supermarkets & Hypermarkets
    • Specialty Stores
    • Others
  • Non-Store-Based

 

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Global Market, By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • UK
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India

 

 

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    • Australia and New Zealand
    • Rest of Asia-Pacific
  • Rest of the World (RoW)
    • South America
    • Middle East
    • Africa

Key Players

Mars Inc. (US), Nestlé Purina PetCare Company (US), InVivo NSA (US), Yamahisa Pet Care (Japan), The J.M. Smucker Company (US), WellPet LLC (US), Blue Buffalo Company, Ltd. (US), Diamond Pet Foods (US), Gott Pet Products (Charlee Bear Products) (US), Heristo AG (Germany), Petsworld, Inc. (India), International Pet Food Company Limited (Thailand), Tiernahrung Deuerer Gmbh (Germany), are some of the key players in the global pet food market

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