Market Overview:
The Pet Foods Market size is projected to reach USD 104,178 million by 2028 from an estimated USD 76,553 million in 2021, growing at a CAGR of 4.5% globally.
Pet food is animal food that is consumed by pets in the form of whole food, snacks, dry food, and wet food. The pet food market includes sales of goods and services by companies that make cat and dog food and other animal food from ingredients such as grains, oilseeds, mill products, and meat products. Furthermore, the industry includes establishments that manufacture dog food, cat food, and other animal food. Furthermore, pet foods are specialty foods prepared to fulfill the dietary requirements and regulations of domesticated animals and can be made from plant or animal-based food materials. Pet foods are available in various colors and shape to convince the owner and added with special flavor to enrich the taste which leads the market growth over the forecast period.
Top Key Players Covered In The Pet Foods Market:
- Wagg Foods Ltd (UK)
- Kriser's Natural Pet (US)
- Wellness Pet Company (US)
- Gambol Pet Group Co., LTD (China)
- Yantai China Pet Foods Co., Ltd. (“Wanpy”) (China)
- Butcher’s Pet Care (UK)
- Royal Canin SAS (France)
- BRF (Brazil)
- Nisshin Seifun Group Inc. (Japan)
- Affinity Petcare (Spain) and other major players.
Market Dynamics and Factors:
The market is expanding due to rising demand for premium and organic pet food. Pet owners frequently regard their pets as family members and want to spend money on the best pet products and services, so they buy organic and premium products to feed their cats, dogs, and others. Furthermore, organic pet foods contain no artificial colors, flavors, antibiotics, synthetic hormones, toxic pesticides, or preservatives, whereas premium pet foods contain higher-quality ingredients than traditional pet foods. Diets are developed by key players who manufacture premium pet foods to meet an animal's nutritional needs. Premium brand companies, for example, provide foods designed specifically for growing puppies, large and small-breed dogs, lactating and gestating animals, and geriatric animals.
Investment in facilities to produce quality grain-free dog food products, offering premium pet food products, selling products online through e-commerce platforms, adopting automation technologies to maximize production efficiencies, focusing on serving tailored food based on customer needs, producing pet foods with organic ingredients, focusing on gaining more subscribers, investing in CBD pet food for product differentiation, and investing in increasing their online sales. Manufacturing should adopt strategies in the pet food market such as investing in expanding production operations, enriching product portfolios through strategic acquisitions, and investing in R&D to develop new improved, and premium products to help the market in the future.
Pet Foods Market Report Highlight:
- By Type, the Dogs segment is anticipated to lead the growth of the Pet Foods market in the forecasted timeframe. Rising consumer awareness regarding pet health has led to an increased focus on enhancing the weight of dogs and maintaining their overall health. Customers are opting for multiple available foods and are highly reliant on product brands.
- By Food type, the Dry food segment is expected to have the highest share of the Pet Foods market over the projected period. Dry food is a major selling product in the category of pet food market due to its long shelf life and ease to carry, thereby boosting segment growth.
- By Distribution Channels, the Supermarkets segment is set to develop at the highest growth during the forecasted timeframe. The reason behind this dominance can be attributed to the high consumer preference for buying products from large retail stores, where they are offered an abundance of choices in terms of brands and prices.
- The North American region is expected to have the highest share of the Pet Foods market over the projected period. The presence of the prominent key players, The high adoption of pets in U.S. households is one of the significant reasons for the dominance of the region, and are the main factors driving the development of the market in this region.
Key Industry Development:
In May 2015, WellPet LLC launched a new product segment line Wellness Trufood. Trufood is made from whole foods like whole prey protein, raw produce, and antioxidant-rich superfoods.
In July 2021, The J.M. Smucker Company (Big Heart Pet Brands, Inc.) announced big life recipe dog food, Racheal Ray and Nutrish Big Life doesn’t nourish big dogs, it makes them feel good and rewards them with every single bite.
Pet Foods Market Segmentation:
By Type
- Dogs
- Cats
- Others
By Food Type
- Dry Food
- Wet Food
- Snacks
- Treats
- Nutritious Food
By Distribution Channels
- Specialized Pet Stores
- Supermarkets
- Online
- Others
For this report, Introspective Market Research has segmented the Pet Foods Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest Of Europe
- Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
- Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
- South America
- Brazil
- Argentina
- Rest of SA
