Pet Food Market Size, Share & Trends Report

Pet Food Market Size, Share & Trends Analysis Report By Product (Dry, Wet/Canned, Nutritious, Snacks/Treats), By Application (Dog, Cat, Others), By Region, Competitive Landscape, And Segment Forecasts, 2012 - 2022

  • Published Date: Apr, 2018
  • Base Year for Estimate: 2016
  • Report ID: 978-1-68038-559-5
  • Format: Electronic (PDF)
  • Historical Data: 2014-2016
  • Number of Pages: 70

Industry Insights

The global pet food market size was valued at USD 76.53 billion in 2016 and is expected to register a CAGR of 4.3% in terms of revenue over the forecast period. Growing trend of pet adoption as a result of increasing number of nuclear families in emerging economies is expected to be a major growth driver over the coming years.

U.K. pet food market

Rising need for nutritious, healthy, and organic pet food on account of increasing awareness regarding animal health is expected to augment market demand. Europe was the largest market on account of presence of numerous manufacturers in the region, coupled with rising geriatric population adopting domestic animals for companionship.

With changing lifestyle and growing concerns over animal health, consumers have been spending more on high-quality food. Pet owners are making sure that the products they buy are best suited for their requirements and contain all the necessary nutrition.

Pet owners have been overly concerned about animal health over the past few years on account of various problems, including obesity. Diseases such as arthritis have been significantly increasing among cats and dogs, causing immense discomfort and pain. Around 38.0% dogs and 68.0% cats globally have been suffering from this condition. Almost half the dogs and 40.0% cats with joint ailments are also overweight. In addition, they suffer from diabetes and high blood pressure. Hence, owners have been strictly shifting to low-calorie and high-nutrition products to maintain pet heath.

Many people suffer from allergies resulting from various animals, discouraging them from keeping pets. Asthma is a common condition among such individuals, mostly as a result of being around cats and dogs. This is likely to act as a restraint to market growth. Moreover, increasing food product recalls are likely to hinder the market over the forecast period.

Product Insights

Dry products dominated the Europe market with a share of 37.1% in 2014 in terms of volume and the segment is predicted to continue its leading streak through 2022. Dry food products are mainly targeted for young animals owing to their high nutritional value. These products are available in a wide price range, including economy, standard, standard premium, and super premium. Key factors fueling demand for dry products include handling convenience, lower generation of waste, and longer storage.

Wet/canned products accounted for a revenue share of 8.3% in North America in 2014. Canned products contain dry ingredients and about 75.0% to 85.0% water. These products boost energy level and build lean mass and muscles. They are mainly given to animals that do not drink sufficient water throughout the day.

Dogs need various kinds of nutrients to live a healthy life: fatty acids, minerals, water, proteins, carbohydrates, and vitamins. Dog owners have been focusing on providing food that contains these nutrients in order to keep them healthy. This is anticipated to propel demand for nutritious food over the coming years.

The snacks/treats segment is projected to witness moderate growth over the forecast period. Rising awareness regarding nutrition required for domestic animals has shifted owner preference from snacks and treats toward nutritional products. This is likely to restrain the growth of the segment over the forecast period.

Application Insights

Dogs are considered to be the friendliest animals kept as pets across the globe. This segment dominated the North America pet food market with a revenue share of 61.6% in 2014 and is projected to continue the trend. Approximately 89.7 million dogs lived as pets in U.S. in 2017. Availability of dog food for various breeds is likely to have a positive impact on industry growth over the coming years.

Popular domestic dog breeds include Labradors, Golden Retrievers, German Shepherds, Beagles, Bulldogs, and Rottweilers. Increasing demand for nutritional products for various breeds at different stages of their life is likely to propel market growth over the forecast period.

Global pet food market

Cat food accounted for a revenue share of 36.9% in 2014 in Europe. Availability of cat food based on age and breed is likely to have a positive impact on market growth over the forecast period. Sales of dry cat food have witnessed an increase of 30.0% from 2010 to 2015 in France. These trends are expected to drive product demand over the coming years.

The others segment includes food for birds, mice, turtle, fish, and reptiles. This segment is projected to witness the lowest CAGR over the forecast period. However, rising trend of keeping birds as pets is anticipated to augment product demand in the coming years. According to an APPA National Pet Owners Survey, approximately 7.9 million U.S. households owned birds in 2017.

Regional Insights

Scientific studies have revealed that company of a domestic animal helps relieve stress among humans. This is a key contributing factor to increasing adoption of pets in households, thereby driving sales of pet food across the globe.

Asia Pacific accounted for a 12.3% share in terms of volume in 2014. In India, owning a pet and taking care of them is a rising urban phenomenon and rising urbanization across the country has resulted in greater adoption of various animals as companions. Moreover, having a domestic animal at home often acts as emotional support, especially among nuclear families. Delayed parenthood in several urban areas of the country is also a trend observed in recent years, propelling the adoption of dogs, cats, and other animals. This is expected to augment product demand over the coming years.

U.K. is a prominent contributor, with approximately 44.0% of the total population owning a domestic animal in 2016. Presence of animal-loving population in the county has led to greater opportunities for the pet accessories and food market. U.K. accounted for a revenue share of 19.8% in 2014.

U.S. accounted for a major revenue share of 83.1% in 2014 in the North America market and it is predicted to continue the trend over the forecast period. U.S. is ranked third in terms of cat ownership and fifth as far as domestic animal ownership is concerned at a global level. Approximately 39.0% pet owners in the country own cats, while around 50.0% have dogs. These factors are likely to have a positive impact on market growth over the forecast period.

Pet Food Market Share Insights

Big Heart Pet Brands, Unicharm Corporation, Mars Incorporated, Colgate-Palmolive Co., Nestle SA, Lupus Alimentos Ltda, and Total Alimentos SA are some of the key players in the industry. Expansion, acquisition, and new product development are some of the key strategies adopted by industry players.

In December 2014, Mars Incorporated acquired the Eukanuba and Iams brands from Procter & Gamble in New Zealand and Australia to expand its global presence. Moreover, Nestle SA invested USD 15.3 million in November 2012 in a pet food factory based in Argentina to strengthen its pet food brand worldwide.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global pet food market report on the basis of product, application, and region:

  • Product Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2012 - 2022)

    • Dry

    • Wet/Canned

    • Nutritious

    • Snacks/treats

    • Others

  • Application Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2012 - 2022)

    • Dog

    • Cat

    • Others

  • Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2012 - 2022)

    • North America

      • U.S.

    • Europe

      • U.K.

      • France

      • Germany

    • Asia Pacific

      • Japan

      • Australia

    • Rest of The World

Key questions answered by the report
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