Pet Food Industry | Forecast 2030
Pet Food Industry Data Book – Dog Food, Cat Food and Other Pet Food Market
The economic value generated by the pet food industry was estimated at approximately USD 99.10 billion in 2022.
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
Pet Food Industry Data Book Coverage Snapshot
- Pet Food Industry 31,804.4 Kilo Tons in 2022 3.6% CAGR (2023-2030)
- Dog Food Market 12,823.6 Kilo Tons in 2022 4.4% CAGR (2023-2030)
- Cat Food Market 9,708.4 Kilo Tons in 2022 3.8% CAGR (2023-2030)
- Other Pet Food Market 9,272.4 Kilo Tons in 2022 2.4% CAGR (2023-2030)
Dog Food Market Growth & Trends
The global dog food market size is expected to reach USD 61.60 billion by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.1% from 2023 to 2030. This is attributed to a rise in global pet ownership, including dogs. Furthermore, as people’s lifestyles change and urbanization rises, pets are often seen as companions and family members, leading to an increased product demand. In addition, as economies develop and disposable income rises in various regions, people are willing to spend more on their pets, including providing them with higher-quality and specialized dog food. Moreover, many pet owners now consider their dogs as integral members of their family.
This trend has led to a shift in how people care for their pets, including choosing premium and organic options that mimic human dietary trends. Due to recent advancements in technology and the introduction of novel sales channels aimed at reaching untapped markets worldwide, the pet food industry has witnessed the emergence of pet specialty stores and the availability of products through online platforms. Moreover, social media has been crucial in promoting pet-related content, including recommendations and product reviews, significantly impacting consumer preferences, and enhancing brand visibility.
Order your copy of the Free Sample of “Pet Food Industry Data Book – Dog Food, Cat Food and Other Pet Food Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030, published by Grand View Research
Cat Food Market Growth & Trends
The global cat food market size is expected to reach USD 44.32 billion by 2030, growing at a CAGR of 4.4% during the forecast period, as per a new report by Grand View Research, Inc. This is attributable to the increasing pet ownership, growing health and wellness concerns, and growing product innovation and diversity worldwide. The market has seen continuous product innovation, with manufacturers introducing new flavors, formulations, and formats to cater to diverse consumer preferences and requirements. Grain-free, limited ingredient diets, and natural or organic cat food options have gained popularity. Additionally, there has been an expansion in the availability of specialized diets, such as hypoallergenic or weight management cat food resulting in an increase in demand for the product over the period.
A large proportion of individuals consider their pets to be part of their family, and cats are the second most popular pets after dogs. Many individuals who reside in small apartments prefer smaller pets that suit their lifestyle. With more people opting out of having children, there is a growing trend of using pets as a substitute, leading to a flourishing industry that caters to pampered pets. Additionally, the increasing number of elderly couples, dual-income households with no children, and a surge in disposable income are the primary drivers of cat adoption worldwide.
Other Pet Food Market Growth and Trends
Other pet food accounted for an industry share of over 26.6% in 2022. This segment includes food for species like hamsters, rabbits, birds, and fishes. Pet parents are searching for healthful, species-specific food that employs natural ingredients and does not contain added sugar, fillers, or chemical preservatives when selecting food for their pets. Natural, nutritious, premium goods that promote ancestral and instinctual behaviors have remained important trends in the manufacturing and marketing of pet food. Manufacturers/brands such as Oxbow, Vitakraft, JR Farm, Wild Harvest, Kaytee Fiesta, and Stabul Nugget provide food and treats for birds, hamsters, fish, and other small animals.
- 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.
- In May 2023, Nestlé Purina announced that it is set to inaugurate a new production facility, Purina Vargeão, in early 2024. Initially specializing in wet food products, this facility is expected to have an annual production capacity of approximately 30,000 metric tons. This investment aims to establish Nestlé Purina as the third-largest domestic pet food manufacturer in Brazil.