Pet Food Market Outlook
Pet food represents food products formulated to meet the nutritional requirements of domesticated animals. They involve dry pet food, canned and wet pet food, treats and snacks, etc., which are prepared using seafood, meat, peas, barley, corn, feed grain, etc.
The global pet food market reached a value of US$ 112.87 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 154.04 Billion by 2027, exhibiting a CAGR of 5.42% during 2022-2027.
Pet food items offer numerous health benefits, including boosting immunity, enhancing life expectancy, maintaining a healthy weight, preventing the risk of skin ailments and allergies, and reducing digestive disorders. Consequently, they are in extensive demand among pet owners across the globe.
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Pet Food Market Trends:
The growing number of individuals following the trend of pet humanization and the rising concern about the well-being and healthy growth of pets are among the key factors driving the pet food market. In addition to this, the increasing focus among leading manufacturers on resourcing ethically viable products and incorporating modifications in the manufacturing process is acting as another significant growth-inducing factor. Apart from this, the introduction of several products specific to the age, breed, and size of pets in smaller, single-serve, and disposable containers in order to facilitate convenience to both the pets and owners is also positively influencing the global market.
In line with this, the development of organic product variants, which are made utilizing ingredients that are grown without the application of pesticides, antibiotics, synthetic fertilizers, or hormones is further stimulating the market growth. Besides this, the inflating investments by manufacturers in product promotions and advertisements to expand the consumer base and the elevating product availability on e-commerce channels are expected to propel the pet food market over the forecasted period.
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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
- Mars Petcare Inc.
- Nestlé Purina Pet Care
- Hill’s Pet Nutrition
- The J.M. Smucker Company
Key Market Segmentation:
The report has categorized the market based on pet type, product type, pricing type, ingredient type and distribution channel.
Breakup by Pet Type:
- Dog Food
- Cat Food
Breakup by Product Type:
- Dry Pet Food
- Wet and Canned Pet Food
- Snacks and Treats
Breakup by Pricing Type:
- Mass Products
- Premium Products
Breakup by Ingredient Type:
- Animal Derived
- Plant Derived
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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