New York, United States, Oct. 06, 2022 (GLOBE NEWSWIRE) -- To address the needs of diverse animal species and age groups, the key worldwide market participants are focusing their efforts on creating a wide range of pet food products. Recently, businesses like General Mills, Nestle, and Mars Inc. have introduced luxury food products to grab consumers' attention and satisfy the needs of expanding pets. To make better use of the planet's resources, Nestle Purina, for instance, created pet food based on alternative proteins in November 2020. Among the choices are insects and plant proteins from fava beans and millet. Similar to this, General Mills, Inc. declared that their new cat food would go on sale in March 2021.
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Growing Pet Ownership in Developing Countries
Convenience advantages are anticipated to be the primary driver of demand for dry organic and natural pet food. Contrary to the majority of traditional pet feeds, organic and natural pet foods are frequently used. The demand for dog food is anticipated to expand over the anticipated time period, and the premium pet food segment is anticipated to gain ground. Dry dog food is significantly more in demand than its competitors due to its simplicity in storage and ability to be fed to dogs without creating a mess. Urban consumers, who are increasingly choosing dry pet food, will benefit from this.
The increase in pet ownership has been mostly attributed to young people. More than half of new pandemic pet parents are between the ages of 16 and 34. Current pet owners are another important factor in pet purchases; 42% of them have acquired a new animal after the lockdown. During COVID-19, 74% of pet owners said their animal companions had improved their mental health.
Report Scope
| Report Metric | Details |
| Market Size 2030 | USD 170.11 Billion |
| CAGR | 4.50 % (2020-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Segments Covered | Animal Type, Form, Source, Distribution Channel, and Region |
| Report Coverage | Drivers, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, the Middle East, Africa and Rest of the World |
| Key Companies Profiled/Vendors | Mars Incorporated, Nestle S.A., The J.M. Smucker Company, Colgate-Palmolive Company, General Mills, Inc., Diamond Pet Foods, Heristo AG, |
| Key Market Opportunities | Customized pet food products are gaining popularity in developed areas |
| Key Market Drivers | Growing Pet Ownership in Developing Countries |
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Impact of COVID-19
COVID-19 has an extremely damaging effect on the food industry's supply chain. The pet food business originally experienced supply and cash flow issues as a result of restrictions on the movement of raw materials. On the other side, demand for pet food grew progressively over the world as more individuals adopted pets in response to a growing need for company during the lockdown. To meet this need, market players have switched their attention away from physical storefronts and toward e-commerce platforms, increasing their investments in the creation of their own websites. On the other side, as more individuals adopted pets in reaction to a greater desire for company during the lockdown, pet food consumption steadily climbed in many parts of the world. Participants in the market are attempting to meet this need.
Key Insights
- Global Pet Food Market Size is expected to be worth USD 112.13 Billion in 2021 and is estimated to reach up to USD 170.11 Billion by 2030, at a compound annual growth rate (CAGR) of 4.50% from 2021 to 2030.
- The dog segment is anticipated to dominate the worldwide pet food industry.
- Distribution Channel (Supermarkets/Hypermarkets, Specialty Pet Food Stores, Online and Others)
- Based on animal type, is categorized into dog, cat, and others. Due to growing consumer awareness of pet health, which has led to a greater focus on maintaining and improving dogs' general health.
- Geographically, the market is divided into North America, Europe, Asia-Pacific, Latin America, the Middle East, Africa and Rest of the World. North America is the most dominant markets for pet food.
One of the main market drivers is expected to be the rising prevalence of pet ownership worldwide, particularly in emerging nations. Rising urbanization and the humanization of pets are pushing pet owners to choose wholesome and high-quality food for their animals, which is further accelerating the market's growth rate.
Segmentation of Global Pet Food Market
By Animal Type
- Dog
- Cat
By Form
- Dry
- Wet
- Semi-moist
By Source
- Animal-based
- Plant-based
By Distribution Channel
- Supermarkets/Hypermarkets
- Specialty Pet Food Stores
- Online
Around 85 million American families, or about 67 percent of all households, own pets, according to a poll conducted by the American Pet Products Association (APPA). Find below regions covered in the report.
Regions Covered
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
The global pet food market is competitive, with a number of global & regional players operating. Some of the key players are
List of Key Players
- Mars Incorporated
- Nestle S.A.
- The J.M. Smucker Company
- Colgate-Palmolive Company
- General Mills, Inc.
- Diamond Pet Foods
- Heristo AG
- Tiernahrung Deuerer GmbH
- Merrick Pet Care, Inc.
- WellPet LLC
- The Hartz Mountain Corporation
- Hill’s Pet Nutrition, Inc
- Lupus Alimentos
- Total Alimentos SA
- Blue Buffalo Pet Products, Inc.
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TABLE OF CONTENT
Chapter 1. INTRODUCTION
1.1. Study Assumptions and Market Definition
1.2. Scope of the Study
Chapter 2. RESEARCH METHODOLOGY
2.1. Research approach
2.2. Scope, definition, and assumptions
2.3. Data Component
2.3.1. Secondary Component
2.3.1.1. Preliminary data mining
2.3.2. Primary Component
2.3.2.1. Statistical Model
2.3.2.2. Data Triangulation
2.3.2.3. Research Objective
Chapter 3. EXECUTIVE SUMMARY
Chapter 4. MARKET INSIGHT
Chapter 5. ASSESSMENT OF COVID-19 IMPACT ON THE INDUSTRY
Chapter 6. MARKET DYNAMICS
Chapter 7. MARKET SEGMENTATION
7.1. By Animal Type
7.1.1. Dog
7.1.2. Cat
7.1.3. Others
7.2. By Form
7.2.1. Dry
7.2.2. Wet
7.2.3. Semi-moist
7.2.4. Others
7.3. By Source
7.3.1. Animal-based
7.3.2. Plant-based
7.3.3. Others
7.4. By Distribution Channel
7.4.1. Supermarkets/Hypermarkets
7.4.2. Specialty Pet Food Stores
7.4.3. Online
7.4.4. Others
Chapter 8. Global Pet Food Market Overview, By Geography, 2017 - 2030(USD Million)
Chapter 9. North America Pet Food Market Overview, By Countries, 2017 - 2030(USD Million)
Chapter 10. Europe Pet Food Market Overview, By Countries, 2017 - 2030(USD Million)
Chapter 11. Asia Pacific Pet Food Market Overview, By Countries, 2017 - 2030 (USD Million)
Chapter 12. Middle East & Africa Pet Food Market Overview, By Countries, 2017 - 2030 (USD Million)
Chapter 13. South America Pet Food Market Overview, By Countries, 2017 - 2030 (USD Million)
Chapter 14. COMPETITIVE LANDSCAPE
14.1. Company Profiles
14.1.1. Mars Incorporated
14.1.2. Nestle S.A.
14.1.3. The J.M. Smucker Company
14.1.4. Colgate-Palmolive Company
14.1.5. General Mills, Inc.
14.1.6. Others
Chapter 15. LIST OF TABLES
Chapter 16. LIST OF FIGURES
Chapter 17. INVESTMENT ANALYSIS
Chapter 18. FUTURE OF THE MARKET
Table of Content and Figure @ https://www.sphericalinsights.com/table-of-contents/pet-food-market
What pet products are in high demand?
- CBD for Dogs. 5-year search growth: 350%
- PrettyLitter. 5-year search growth: 780%
- Donut Dog Bed. 5-year search growth: 283%
- Dog toothpaste. 5-year search growth: 10%
- Dog vitamins. 5-year search growth: 67%
- Cat treats. 5-year search growth: 112%
Market News
- March 2021, Mars Incorporated committed $200 million to the expansion of its Royal Canin facility in Lebanon. To increase its production capacity, the company will install five new corporate lines.
- December 2020, Nestle S.A. has announced plans to invest USD 550 million to increase the size of its Georgia pet food manufacturing facility.
News Media
North America Dominates the Pet Food Market
In the research, pet food market FAQs are covered.
How big is the pet food market?
What is the pet food market growth?
What is the total market value of the Pet Food Market report?
What is the market value of the Pet Food Market in 2020?
What is the market size of pet food?
What is the biggest pet market?
How big is pet food market in US?
How big is the pet market in Malaysia?
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