NEW
YORK, July 24, 2024 /PRNewswire/ -- The global
pet food market size is estimated to grow by USD 41 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of about 6.15%
during the forecast period. Growing demand for organic pet food is
driving market growth, with a trend towards increasing demand for
pet food with savory ingredients and smaller portions. However,
increasing instances of pet allergies among pet owners poses a
challenge. Key market players include Agrolimen SA, Archer
Daniels Midland Co., C and D Foods Ltd., Colgate Palmolive Co.,
General Mills Inc., Global Pet
Foods, Hartz Mountain Corp., Himalaya Global Holdings Ltd., Mars
Inc., Merrick Pet Care Inc., Nestle SA, Nippon Pet Food Co. Ltd,
NutriSource Pet Foods, Premier Petfoods Company Pty Ltd, Schell and
Kampeter Inc., Sunshine Mills Inc., The J.M Smucker Co.,
Tiernahrung Deuerer GmbH, Unicharm Corp., and Wellness Pet Co.
Inc..
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Pet Food Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
6.15%
|
Market growth
2024-2028
|
USD 41
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
5.68
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
33%
|
Key
countries
|
US, UK, Japan, Brazil,
and France
|
Key companies
profiled
|
Agrolimen SA, Archer
Daniels Midland Co., C and D Foods Ltd., Colgate Palmolive Co.,
General Mills Inc., Global Pet Foods, Hartz Mountain Corp.,
Himalaya Global Holdings Ltd., Mars Inc., Merrick Pet Care Inc.,
Nestle SA, Nippon Pet Food Co. Ltd, NutriSource Pet Foods, Premier
Petfoods Company Pty Ltd, Schell and Kampeter Inc., Sunshine Mills
Inc., The J.M Smucker Co., Tiernahrung Deuerer GmbH, Unicharm
Corp., and Wellness Pet Co. Inc.
|
Market Driver
The global pet food market is witnessing an upward trend with
vendors introducing new savory ingredients in their pet food lines.
Nestle SA (Nestle Purina) is one such example with its PRO PLAN
SAVOR SHREDDED BLEND, featuring a mix of hard kibble and tender
meat for cats. This trend is expected to continue as more vendors
launch savory varieties, catering to the increasing preference for
flavorful pet food. Additionally, the rise in popularity of smaller
dog breeds is leading vendors to offer smaller portions in both dry
and wet pet food. This trend is anticipated to gain momentum during
the forecast period, contributing to the growth of the global pet
food market.
Pet owners are increasingly prioritizing the dietary needs of
their furry friends, leading to a surge in demand for home-cooked
food and premium pet products. The global pet population, including
dogs, cats, birds, small mammals, rodents, and ornamental fish,
continues to grow. Millennials are driving pet expenditure with
their love for pets and concern for their health. Body size, oral
system health, and specific dietary requirements influence the
choice of pet food. Market trends include stockpiling of pet
products, customized and personalized offerings, and obesity
prevention. Premium pet food, pet grooming, pet daycare, and pet
walking services are popular. Offline stores, hypermarkets,
specialty stores, and online channels cater to diverse consumer
preferences. Dry pet food, wet pet food, snack treats, and
animal-based or plant-based options are available. High-priced
products with long shelf-life, such as animal meal-based and
plant-based sources, are in demand. Health concerns, such as
obesity and skin and coat issues, are key considerations. Pet
ownership culture is on the rise, fueling demand for pet products
and services.
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Market Challenges
- The pet food market faces challenges due to health concerns
associated with pet ownership. Harmful bacteria
like Campylobacter jejuni, transmitted through animals, can
cause diseases such as cryptosporidiosis, posing health risks to
humans, particularly children. Allergies to pets, particularly cats
and dogs, are a significant issue. Approximately 15%-30% of
allergies, including asthma and allergic rhinitis, are caused by
pet dander, saliva, or urine. These allergens can cause symptoms
like swelling, itching, redness, rashes, coughing, and asthma
attacks. Individuals with weakened immune systems or existing
diseases like asthma are advised against pet adoption. These health
concerns limit pet adoption and negatively impact sales of pet care
products, including pet food, thereby hindering the growth of the
global pet food market during the forecast period.
- The pet food market faces several challenges in providing
optimal nutrition for domesticated animals. Sweeteners, vitamins,
minerals, enzymes, and standard nutritional requirements must be
balanced in pet foods. Sourcing commodities like grains,
fruits, and animal protein meals can impact pricing and
availability. For carnivorous species like dogs, protein components
from water, fat, and animal-based sources are crucial. Shelf life
and special storage facilities are necessary for wet food products.
Balanced diets are essential for pet health, with high protein
requirements for active animals. Pricing pressures increase due to
rising vet care costs for conditions like joint disease, lack of
exercise, overfeeding, high blood pressure, and diabetes.
Commercial pet foods must offer nutritious options to meet the
premiumization and pet humanization trends. Pet adoption continues
to grow, increasing demand for a wide range of pet food types and
supplies.
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Segment Overview
This pet food market report extensively covers market
segmentation by
- Product
- 1.1 Dry food
- 1.2 Wet food
- 1.3 Snacks and treats
- Type
- 2.1 Dog food
- 2.2 Cat food
- 2.3 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Dry food- The pet food market is a significant
business sector, catering to the nutritional needs of various pets.
It includes dry, wet, and raw food products. Major players in this
industry include Nestle Purina, Mars Inc., and Colgate-Palmolive.
Consumers prioritize high-quality ingredients and health benefits
when choosing pet food. The market size is expected to grow due to
increasing pet ownership and rising awareness about pet health.
Companies invest in research and development to launch innovative
products. The market is competitive, with companies focusing on
pricing strategies and marketing efforts to attract customers.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
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The Fresh Pet Food Market in the US is experiencing rapid growth
due to increasing pet humanization and demand for high-quality,
nutritious pet meals. Meanwhile, the Pet Food Market in
Taiwan is expanding as pet
ownership rises, and consumers seek premium and specialized pet
food products. Globally, the Pet Care Market is booming, driven by
advancements in pet health products, grooming services, and
innovative pet technologies, reflecting the growing importance of
pets in households worldwide. This trend underscores the
significant potential for growth and innovation in the pet care
industry.
Research Analysis
Pet Food Market: Nourishing the Health and Happiness of Cats and
Dogs (and More)! The pet food market is thriving as pet
humanization and premiumization continue to rise. Pet owners seek
out nutritious food for their furry friends, with innovative
ingredients like probiotics, antioxidants, and essential nutrients
becoming increasingly popular. Organic pet food is another trend,
as pet owners prioritize the health and wellbeing of their cats,
dogs, birds, small mammals, and rodents. Flavors and personalized
products cater to pets' unique dietary needs and preferences.
Commercial foods offer convenience, while home-cooked meals provide
a customized approach. The market includes a wide range of options,
from dry and wet pet food to snack treats, animal-based and
plant-based formulas, and more. As obesity becomes a concern for
many pets, the focus on essential nutrients and balanced nutrient
profiles is crucial. The pet food industry continues to evolve,
offering customized and personalized products to meet the diverse
needs of pets and their owners. Stockpiling and long-term planning
are also factors in the market, ensuring pets receive the best
possible care.
Market Research Overview
Pet food market is a dynamic and growing industry that focuses
on providing nutritious and innovative options for domesticated
animals such as cats and dogs. The market offers a variety of food
types, including organic, meat-based, and grain-based, each with
essential ingredients like probiotics, antioxidants, vitamins,
minerals, enzymes, and amino acids to ensure standard nutritional
requirements are met. Flavors and palatants are also essential to
entice pets to eat. Manufacturing processes include grinding,
cooking, and mixing of commodities like meat, meat byproducts,
cereals, grains, specialty proteins, and agricultural-based
products. Fruits, animal protein meals, and vegetable byproducts
are also used as ingredients. Pet food prices vary based on the
type of food, with dry dog food and wet food products having
different shelf lives and storage requirements. Specialty foods
cater to specific dietary needs, such as those for cats,
carnivorous species, and animals with health concerns like joint
disease, lack of exercise, overfeeding, high blood pressure, and
diabetes. Pet owners increasingly prioritize their pets' health and
wellbeing, leading to the trend of pet humanization and
premiumization. This has resulted in an increase in pet expenditure
on nutritious foods, vet care, pet products, pet grooming, pet
daycare, and pet walking. The market also caters to birds, small
mammals, rodents, and ornamental fish, with food options tailored
to their specific dietary needs and body sizes. Millennials are a
significant demographic in the pet food market due to their strong
attachment to their pets and willingness to spend on high-quality
products.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Dry Food
- Wet Food
- Snacks And Treats
- Type
-
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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