Pet Food Industry Archives

Pet Food Industry | Forecast 2030

The economic value generated by the pet food industry was estimated at approximately USD 99.10 billion in 2022. This economic output is an amalgamation of basic pet food categories, namely, dog food, cat food, and others.

The pet food market is growing at a higher pace owing to proliferating demand for probiotics and other supplements to enhance the GI tract, immunity, and stool quality of pets. Increasing digestive and performance capacities of pets due to healthy food consumption is also expected to boost market growth in the upcoming years. In addition, increasing consumer awareness regarding the importance of giving appropriate feed to pets and improving their overall health are among the key factors fueling the product demand.

Access the Global Pet Food Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

According to the American Pet Products Association, Inc., 67% of the U.S. household population owns at least a single pet, further categorizing it into dogs and cats that are owned by 63.4 million and 42.7 million households, respectively. The survey provided an estimation of the total amount, which is USD 99 billion spent on pets in the U.S. Among these, USD 38.4 billion is spent on pet food followed by USD 30.2 billion on vet care, USD 19.8 billion on supplies and OTC medicines, and USD 10.7 billion on services such as grooming, boarding, training, insurance, and pet sitting services. Online private channels such as Chewy.com and Amazon are endorsing their own brands to disrupt the market and eradicate middlemen margins.

Dog Food Market insights

The global dog food market size was estimated at USD 41.44 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2023 to 2030. This is attributed to the increasing awareness among consumers about the importance of providing balanced and nutritional food to pets. They are seeking products that cater to their pets’ specific dietary needs and health requirements.Factors, such as product quality, pricing, brand reputation, innovation, distribution, and marketing strategies, drive the competition in the global market. Companies consistently invest in research and development to introduce enhanced formulations that align with the changing demands of pet owners. Moreover, they prioritize expanding their market presence through various distribution channels, encompassing specialty stores, supermarkets, and online platforms.

Dog food is uniquely formulated to cater to the precise dietary requirements and nutritional needs of household dogs. Its primary objective is to provide essential nutrients, vitamins, and minerals, promoting the overall health and well-being of dogs. The market offers a wide variety of products, including dry kibble, wet canned products, semi-moist treats, freeze-dried, and raw alternatives. High-quality dog food typically includes a balance of proteins, carbohydrates, fats, fiber, and other essential nutrients to meet a dog’s energy requirements, promote muscle and bone health, support the immune system, and maintain healthy skin and coat. Dog food is available in different formulations tailored to specific life stages, such as puppy, adult, and senior, as well as specialized diets for dogs with specific health conditions or dietary preferences.

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Cat Food Market insights

The global cat food market size was estimated at USD 31.28 billion in 2022 and is anticipated to grow at a compounded annual growth rate (CAGR) of 4.4% from 2023 to 2030. The growth of the product market is attributed to the growing ownership of cats, the humanization of pets, and a growing awareness of the importance of pet nutrition worldwide. Additionally, the rise of e-commerce and the availability of cat food online has made it easier for pet owners to find and purchase products that cater to their pet’s specific needs.

Cat food is a specially formulated type of pet food designed specifically for the dietary needs of cats. They are obligate carnivores, and thus require a diet that is high in protein and fats from animal sources. Therefore, it typically includes meat-based protein sources such as chicken, turkey, fish, or beef. In addition to protein, it also contains other essential nutrients such as minerals, vitamins, and fats to maintain good overall health and meet cats’ dietary needs. These nutrients are particularly important for the growth and development of kittens and the maintenance of adult’s health.

Company Profiles

The J.M. Smucker Company
The Hartz Mountain Corporation
Mars, Incorporated
Hill’s Pet Nutrition, Inc.
Nestlé Purina
LUPUS Alimentos
Total Alimentos
General Mills Inc.
WellPet LLC

Competitive Insights

The competitive landscape of the pet food market is moderately consolidated with the presence of multinational companies striving to fulfill high demand from large customer and end-user base.
Key industry players are increasingly embracing innovative marketing strategies and leveraging advanced technologies to enhance their revenue generation and expand their customer base in the foreseeable future.

Pet Food Industry Data Book | Forecast 2030

Pet Food Industry Data Book – Dog Food, Cat Food and Other Pet Food Market

Dog Food Market Report Highlights

The dry food segment is estimated to register the fastest CAGR of 5.2% from 2023 to 2030 due to several advantages, such as cost-efficiency, convenience, nutritional balance, modern and novel formulations, and longer shelf life

The online sales channels segment is expected to record the fastest CAGR from 2023 to 2030. The online sales of dog food are propelled by the busy lives people lead, the convenience of user-friendly websites/apps, and the easy availability of products

Asia Pacific is estimated to emerge as the fastest-growing region with a CAGR of 5.8% from 2023 to 2030 due to swiftly changing lifestyles and rapid urbanization, which has led to changes in lifestyles, where smaller living spaces and busy schedules make it more convenient for pet owners to opt for commercial dog food over homemade alternatives

Fluctuations in the cost of raw materials used in dog food production, such as meat, grains, and vegetables, can impact the pricing of finished products. High raw material costs may result in higher retail prices, which can deter price-sensitive consumers

Cat Food Market Report Highlights

The market is estimated to advance at a CAGR of 4.4% from 2023 to 2030. This is attributed to the increase in pet obesity, the rise of nuclear families, the humanization of pets, growing awareness of pet health, and regulatory limitations on pet food manufacturing

The dry food type segment is anticipated to grow at a CAGR of 4.4% from 2023 to 2030. This is attributed to its long shelf life. Due to its low moisture content, dry food is less likely to spoil or attract pests, which means that it can be stored for a longer period without issue

The online distribution channels segment is expected to witness significant growth from 2023 to 2030. This is attributed to convenient, simple, and efficient ways to access high-quality products. Online stores offer a range of options for pet owners, including premium and specialty cat food brands that may not be available in traditional retail stores

Asia Pacific is expected to emerge as the fastest-growing region with a CAGR of 5.2% from 2023 to 2030. This is attributed to the growth in disposable income and rapid urbanization. Furthermore, the shift toward smaller households may also contribute to the rise of pet ownership including cats in Asia Pacific, as pets provide companionship and emotional support to individuals

Moreover, companies are involved in mergers, acquisitions, and product innovations to cater to the market. For instance, in 2022, Diamond Pet Foods announced the completion of its new manufacturing and distributing unit in Rushville, Indiana with an investment of USD 260 million by 2024

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Pet Food Market Report Highlights

Dog food accounted for the fastest growth rate of more than 5.1%, owing to the increased awareness regarding dog health and benefits of healthy and balanced dog diet among the dog owners

Dry Cat food type accounted for the fastest growth rate due to its benefits such as cost-effectiveness, ease and convenience of application, and long shelf life. Also, it allows free feeding to the cats which has increased their demand from cat-owners, where the cat prefers to consume round the clock, instead of feeding at specific mealtimes in a day

Pet food manufacturers are extremely focused on enhancing & managing supply efficiency and ensuring their capability to compete with other players by addressing sourcing requirements, improving operating efficiency, reducing lead time, and increasing productivity. Increasing consumer awareness concerning toxicity of synthetic products and the side- effects observed in pets due to the consumption of such products have instigated several manufacturers in developed economies to produce organic pet foods

There are number of people that suffer from pet allergies and hence do not prefer keeping a household pet. This is because of the presence of indoor allergens such as animal dander, molds, and dust mite dropping. There have been numerous cases of people suffering from diseases like asthma due to dog and cat allergies. This factor can be an important restraint of the market.