Wilmington, Delaware, Oct. 25, 2023 (GLOBE NEWSWIRE) --
According to a report published by Allied Market Research, the global pet food market was valued at $87,268.2 million in 2020 and is estimated to generate $133,430.9 million by 2030, manifesting a CAGR of 4.6% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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Report coverage & details:
| Report coverage | Details |
| Forecast Period | 2021-2030 |
| Base Year | 2020 |
| Market Size in 2020 | $87,268.2 Million |
| Market Size in 2030 | $133,430.9 Million |
| CAGR | 4.6% |
| No. of Pages in Report | 279 |
| Segments covered | Pet type, Food type, Sales channel, and Region |
| Drivers | A rise in trend of nuclear families |
| Rapid humanization of pets | |
| Surge in awareness about pet health | |
| Opportunities | Rise in e-commerce sales |
| Increase in pet ownership in developing nations | |
| Restraints | Increase in pet obesity |
| Pet food recalls |
The report provides a detailed analysis of all segments of the global pet food market which are based on pet type, food type, sales channel, and region. The report offers an analysis of each segment along with sub-segments with the help of tables and figures which will help market players, investors, and new entrants determine the sub-segments to be tapped on to achieve growth in the coming years.
Based on pet type, the dogs segment dominated the market with the highest share in 2020, accounting for more than two-fifths of the global pet food market and is estimated to rule the roost throughout the forecast timeframe. The same segment would showcase the fastest CAGR of 4.7% from 2021 to 2030. The report also analyzes the cats and others segments.
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Based on food type, the dry food segment accounted for the largest share in 2020, contributing to around one-third of the global pet food market, and is projected to hold its dominance from 2021 to 2030. The same segment is expected to cite the highest CAGR of 5.3% throughout the forecast timeframe. The report also discusses wet food, treats and snacks, and others segments.
By sales channel, the specialized pet shops segment held the highest share in 2020, contributing to more than one-third of the global pet food market, and is estimated to maintain its leadership status from 2021 to 2030. The same segment would witness the fastest CAGR of 5.1% from 2021 to 2030. The report also analyzes the online sales channel and others segments.
By region, the market in North America was the largest, accounting for more than one-third of the global pet food market, and is expected to rule the roost throughout the forecast time period. Moreover, the market across Asia-Pacific is registered to witness a noteworthy CAGR of 5.1% from 2021 to 2030. The report also analyzes the markets across Europe and the LAMEA regions.
Leading market players in the global pet food market analyzed in the research include Big Heart Pet Brands, Nestle Purina PetCare, Diamond Pet Foods, Mars Petcare Inc., The Hartz Mountain Corporation, Hill’s Pet Nutrition, Deuerer, WellPet, Blue Buffalo, and Heristo AG.
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The report provides a detailed analysis of these key players in the global pet food market. These players have adopted an array of strategies, such as collaborations, expansion, joint ventures, agreements, new product launches, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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