GVR Report cover Pet Food Market Size, Share & Trends Report

Pet Food Market Size, Share & Trends Analysis Report By Type (Dry Food, Wet Food, Snacks/Treats), By Animal (Dog, Cat, Others), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: 978-1-68038-559-5
  • Number of Pages: 78
  • Format: Electronic (PDF)

Report Overview

The global pet food market size was valued at USD 94.76 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.4% from 2022 to 2030. Increasing consumer awareness regarding natural and organic pet food products has forced the manufacturers to shift their focus from synthetic to natural products which has acted as one of the major forces impacting the global market.

U.S. pet food market size, by type, 2020 - 2030 (USD Billion)

The COVID-19 pandemic had an adverse effect on supply networks. The pet food sector suffered in terms of supply and cash flow due to restrictions in the movement of raw materials. Pet food demand, on the other hand, grew steadily in many parts of the world as individuals adopted more pets in response to a growing desire for the company during the lockdown. To meet this requirement, market players turned their focus from brick-and-mortar stores to e-commerce platforms.

Convenience benefits related to dry organic and natural pet food are projected to drive the product demand. Unlike most conventional pet foods, organic and natural pet foods are being used on a large scale.

Growing dog food demand along with higher traction in the premium pet food segment is anticipated to drive the pet food market over the forecast period. Dry food is witnessing rapid growth in demand as compared to other product counterparts owing to its convenience in terms of storage and feeding pets without creating a mess.  This is positively influencing urban consumers to increasingly opt for dry pet food.

Canned food is more palatable to dogs and cats as this product type contains proteins, fats, and a few carbohydrates. Wet/canned pet food is easy to digest and thus limits the backyard cleaning activity to a minimal. The higher digestibility offered by wet food makes it preferable for cats and dogs with illnesses and those that are finicky eaters.

The rising trend of dog adoption as a companion for families is projected to propel the product demand. Particularly dogs are witnessing an upward trend in terms of the concept of humanization of pets. This has resulted in an increased number of people owning dogs and feeding them premium food. Furthermore, rapid urbanization is among the key factors driving the market.

According to recent estimates from the Pet Food Manufacturers Association, 3.2 million homes in the U.K. have adopted a pet since the outbreak began (Paley,2021). Pet-owning households presently number 17 million in the U.S. The previously stagnating levels of pet ownership in the last five years have risen to 57 percent in May 2021 (Mintel,2021).

Young people have accounted for a large portion of the increase in pet owners. Over half of new pandemic pet parents are between the ages of 16 and 34. Current pet owners are another important driver of pet purchase, with 42% of them getting a new pet since the lockdown. During COVID-19, 74 percent of pet owners said that their pet had benefited them with their mental health.

Type Insights

Dry food accounted for the largest share of 44.9% for the year 2021 and is useful in ensuring good oral care in dogs with minimal tartar buildup on the animal’s teeth and by reducing plaque. In addition, this product type offers the crunch and chewing required for maintaining the overall health of animals. Dry food eliminates the need for freezing like that in the case of canned food.

High moisture content in this product type helps ensure that the pets are hydrated and are also beneficial to the urinary tract. However, the high cost of the product, particularly meat-based protein canned food, may restrict its preference among consumers, thereby restraining the segment growth over the forecast period.

Pet snacks are usually preferred for improving intake of nutrition and enhanced quality ingredients, whereas treats are used as the key product to induce positive behavior in pets. Snacks usually consist of baked products such as roasted grains and biscuits or dried fruits and vegetables.

Animal Insights

The dog segment accounted for over 41.5% of the global revenue share in 2021.  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 between multiple available foods and are highly relying on product brands. Manufacturers are constantly focusing on entering the premium food products segment and thereby improving their overall profit margin. 

The trend of owning more than one cat is witnessing consistent growth, particularly in Europe and North America, thereby propelling the product demand. Cats require less training as compared to dogs and are capable of spending more time alone. Besides, the cost required for owing cats is relatively low as compared to that in the case of dogs.

Global Pet food market share, by animal, 2021(%)

The other application segment includes pet food products for birds, fish, and reptiles. The product demand for such animal categories is likely to remain sluggish as compared to that for dogs and cats. The short lifespan and low rate of food consumption are likely to emerge as the major factors for low product demand in this segment as compared to dogs and cats.

Regional Insights

North America dominated the market and accounted for a 49.9% share of global revenue in 2021. The regional demand for pet food is primarily driven by rising consumer awareness regarding the beneficial impact on pet health along with the increasing trend of humanization of pets.

The rising trend of adopting pets among millennials is further projected to support market growth. According to the American Pet Products Association (APPA), around 38% of the people across the U.S. own cats, and two as an average number of cats per household.

Europe is anticipated to grow at a CAGR of 4.5% over the forecast period in terms of revenue. According to the European Pet Food Industry Federation (FEDIAF), over 80 million households across Europe own at least one pet. The regional market is led by cat food products owing to the high rate of cat ownership.

Asia Pacific, led by China, Japan, India, and South Korea, emerged as one of the major markets across the globe in 2018. The regional market growth can be attributed to the increasing demand for premium dog food. According to the Alltech Global Feed Survey, pet food production grew up to 3% in Asia Pacific in 2021.

Key Companies & Market Share Insights

The key players in the market are majorly inclined towards expansion, merger & acquisition, and new product development. Product differentiation remains a key factor in increasing sales of pet food. Some of the prominent players in the global pet food market include:

  • The J.M. Smucker Company

  • The Hartz Mountain Corporation

  • Mars Incorporated

  • Hill’s Pet Nutrition, Inc

  • Nestlé Purina

  • Lupus Alimentos

  • Total Alimentos SA

  • Blue Buffalo Pet Products, Inc.

  • WellPet LLC

  • Diamond Pet Foods

Pet Food Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 99.10 billion

Revenue forecast in 2030

USD 139.29 billion

Growth rate

CAGR of 4.4% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million, volume in kilotons, and CAGR from 2022 to 2030

Report coverage

Volume & revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, animal, region

Regional Scope

North America; Europe; Asia Pacific; Central and South America; and Middle East and Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K., Russia; Spain; Italy; France; Ukraine; Turkey; Poland; China; Japan; South Korea; India; Indonesia; Malaysia; Vietnam; Thailand; Australia; Brazil; Argentina; Middle East; South Africa

Key companies profiled

The J.M. Smucker Company; The Hartz Mountain Corporation; Mars Incorporated; Hill’s Pet Nutrition, Inc; Nestlé Purina; Lupus Alimentos; Total Alimentos SA; Blue Buffalo Pet Products, Inc.; WellPet LLC; Diamond Pet Foods

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global pet food market based on type, animal, and region:

  • Type Outlook (Volume, Kilotons; Revenue, USD Million; 2017 - 2030)

    • Dry Food

    • Wet Food

    • Snacks/Treats

  • Animal Outlook (Volume, Kilotons; Revenue, USD Million; 2017 - 2030)

    • Dog

    • Cat

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2017 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

      • Poland

      • Ukraine

      • Russia

      • Turkey

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

      • Indonesia

      • Malaysia

      • Vietnam

      • Thailand

      • Australia

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Middle East

      • South Africa

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