The global pet food market size was estimated at USD 103.3 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2030. The demand for products is anticipated to be driven by growing consumer inclination toward the adoption of pets along with rising concerns regarding their health. Improvement in overall digestion and performance of pet animals owing to consumption of nutritious food is also likely to boost market growth in the forecast period. The pet food products that are available in the global market rarely vary. This, in turn, has prompted manufacturers to include multi-functional and innovative ingredients in their products to curb such similarity bias. Convenience is likely to play a vital role in driving this industry, given the increased popularity of prepared pet food. The other segment is organic pet food, a recent and growing trend in the market.

Increasing availability of organic products in a variety of flavors and the inclusion of essential ingredients such as probiotics and antioxidants are factors that are likely to induce a positive impact on global market growth. On the other hand, low product penetration owing to its slightly high price may restrain organic segment growth in the coming years as every household would not be able to purchase high-priced products.

The market value chain is characterized by the presence of raw material suppliers, manufacturers, distributors, and end-users. The raw materials which are used for production include meat, meat byproducts, cereals, grains, and specialty proteins derived from animals, palatants, flavors & sweeteners, vitamins, minerals, and enzymes among others. Manufacturers formulate these products in accordance with the standard nutritional requirements of domesticated animals. Meat-based raw materials are processed/rendered to separate protein components, water, and fat. The manufacturing process also entails grinding, cooking, and mixing the aforementioned raw materials with other ingredients.

Gather more insights about the market drivers, restrains and growth of the Global pet food market

Pet Food Market Segments Highlights:

• Dog pet type dominated the market with a revenue share of more than 42.1% in 2023. This is attributed to the growing adoption of dogs as household pet and rising household expenditure towards healthy dog food due to an increase in concerns of owners about their dog health.
• Cat food type held the second largest revenue contributor globally. This is due to the increased concerns about health and a balanced diet requirement for cats.
• North America dominated the market with a revenue share of 42.87% in 2023. This is attributed to the rising consumer awareness regarding the beneficial impact of products on health along with the increasing trend of humanization of pets.
• The U.S. dominated the North American market in 2023 owing to a high percentage of pet ownership along with the presence of a well-developed pet food industry.
• Europe held the second-largest revenue share globally. This is because of the humanization of pets and increasing demand for premium food products,
• Europe is one of the largest markets for the pet food industry, accounting for approximately 30% of total pet care and pet food sales across the globe.

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Pet Food Market Segmentation

Grand View Research has segmented the global pet food market report based on pet type, region:

Pet Food Pet Type Outlook (Revenue, USD Million; Volume, Kilotons; 2018 - 2030)

• Dog
  • Wet Food
  • Dry Food
  • Snacks/Treats
• Cat
  • Wet Food
  • Dry Food
  • Snacks/Treats
• Others

Pet Food Regional Outlook (Revenue, USD Millions; Volume, Kilotons; 2018 - 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Poland
  • Ukraine
  • Russia
  • Turkey
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Vietnam
  • Thailand
  • Australia
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Middle East
  • South Africa

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