Pet Food Market

Pet Food Market is accounted for USD 90 Billion in 2019, growing at a robust CAGR of 5.2% during forecast period.

Introduction of Pet Food Market Report

Pet food refers to the plant or animal material that is intended for consumption by pets such as dogs, fishes, cats, or any other pet animal. The prepared pet food products are becoming very popular among pet owners and provide an ample amount of nutritional value to the pets. They help in improving digestion, enhance dental hygiene, and promotes a stronger immune system.

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Pet Food Market Key Drivers

Rising disposable income, growing trend of nuclear families, and rising pet adoption are some of the major factors driving the pet food market size. The increasing trend of pet parenting and the growing health concerns have encouraged pet owners to seek for healthy food options in order to maintain their pet’s health, which in turn is projected to boost the sale of high-quality, organic, and customized products.

Moreover, pet food helps in fighting skin allergies and infections, which improves the overall health of pets, fuelling the pet food market share. Leading market players are emphasizing on launching a variety of food products for pets to fulfill the needs of different animals belonging to different age groups. This is anticipated to steer the pet food market growth. For example, in November 2020, Nestle Purina introduced pet food with proteins from insects as well as plant to make better use of the planet’s resources.

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Based on the product, the dry food segment is projected to experience a faster CAGR during the forecast period owing to the exceptional properties such as cost-effective nature, low-moisture content, and highly convenient in terms of storage and feeding to the pets. The significant change in the lifestyle and the increasing awareness regarding the organic dry pet food products will further energize the demand of the segment.

Based on the application, the dog segment is anticipated to grow at a higher CAGR in the next six years. The rising consumer awareness related to pet health has resulted in an increased focus on improving the weight of dogs and maintaining their overall health. The increasing concern related to pet health, along with the growing awareness about the benefits of commercial dog food, will further boost the demand of the segment. Moreover, the increasing trend of pets at the workplace is encouraging its adoption, especially dogs. This factor will further propel the growth of the market.

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Regional – Segment Analysis

On the basis of the region, the North American region is predicted to dominate the pet food market over the coming years. This is attributed to the growing consumer awareness regarding the remarkable benefits offered by the pet food products and the increasing trend of humanization of pets. Furthermore, the emerging trend of adopting pets, especially among the millennials, is further surging the growth of the market. On the other hand, the Asia-Pacific region is expected to grow at a higher CAGR due to the increasing demand for premium dog food products in the Asian countries.

Top Market Players

Various notable players operating in the market include Nestlé Purina, Mars Incorporated, Hill’s Pet Nutrition, Inc., Blue Buffalo Pet Products, Inc., The J.M. Smucker Company, WellPet LLC, and Diamond Pet Foods, Deuerer, Omega Protein Corporation, and Nutriara Alimentos Ltd., among others.

Key Developments: 

• • In 2021, Nestlé Purina PetCare Co. made an investment of USD 182 million to expand its production facility of pet care products’ in King William County, Virginia, US. This expansion is scheduled to be completed by late 2023, and will include a 138,000 square foot buildout to raise the production capacity for the company’s Tidy Cat litter products line.
  • In 2021, Mars Inc. introduced wet cat food under its Whiskas brand, to expand its product range in India. This new product range is available across pet shops, grocery stores, and e-commerce sites.
  • In 2021, Hill’s Pet Nutrition had opened a 25,000 sq ft nutrition innovation center in the United States. This center would help the company develop innovative products specially designed for small and mini dogs.
  • In 2017, Mars Petcare Inc., introduced, CRAVE, a new brand of dog and cat food crafted to nourish pets through high-protein, meat-first, grain-free recipes. Through this expansion in the product portfolio, the brand aims to build a unique brand image among its target audience.

Segments covered in the Report:

The global Pet Food market has been segmented on the basis of Product, Application and key regions. Based on Product, the market is segmented into Dry Food, Wet/Canned Food, Nutritious Food, Snacks/Treats, Others. Based on Application, the market is segmented into Dog, Cat and Others.

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Key questions answered in this research report:

• • At what pace is global Pet Food market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Pet Food market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Pet Food market?
  • Which Product generated maximum revenues in 2019and identify the most promising Product during the forecast period?
  • What are the various Application areas of global Pet Food market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Pet Food Market by Product

• • Dry Food
  • Wet/Canned Food
  • Nutritious Food
  • Snacks/Treats
  • Others

Global Pet Food Market by Application

• • Dog
  • Cat
  • Others

Global Pet Food Market by Region

• • North America Pet Food Market (Option 1: As a part of the free 25% customization)
    • By Product
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Pet Food Market (Option 2: As a part of the free 25% customization)
    • By Product
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Pet Food Market (Option 3: As a part of the free 25% customization)
    • By Product
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Pet Food Market (Option 4: As a part of the free 25% customization)
    • By Product
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Pet Food (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Nestlé Purina
  • Mars Incorporated
  • Hill’s Pet Nutrition, Inc.
  • Blue Buffalo Pet Products, Inc.
  • The J.M. Smucker Company
  • WellPet LLC
  • Diamond Pet Foods
  • Deuerer
  • Omega Protein Corporation
  • Nutriara Alimentos Ltd.