Animal and Pet Food Market

Animal and Pet Food Market Outlook 2031

The global animal and pet food market size was valued USD 44.34 Billion in 2022 and is projected to reach USD 80.83 Billion by 2031, expanding at a CAGR of 6.9% during the forecast period 2023 - 2031. The growth of the market is attributed to the exponential surge in pet adoption as people are spending more time at home and alone and due to rising empathy towards pets which is driving their adoption rates in recent years.

Animal and pet food is a feed intended for consumption by pets. They are typically sold across multiple stores such as pet stores and supermarkets, it is usually specific to the type of animal, such as dog food or cat food. In today’s modern world we find various types of pets, but cats and dogs dominate all the production in the animal and pet food market by a substantial margin globally.

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Following, we have pet foods for fish, small mammals such as rabbits, guinea pigs, and ferrets, birds, and then the products start to combine with animal feeds for farm animals and reptiles. Natural animal and pet food is rapidly becoming popularized as they mainly consist high quality and natural ingredients and are free from preservative ingredients.

Consumers worldwide are becoming aware about how important it is to buy pet food with high nutritional value which adds to improving their pet’s health and enhancing their standard of living.

Animal and pet food labelled as “complete and balanced” must meet standards established by the Association of American Feed Control Officials (AAFCO) by meeting a nutrient profile or by passing a feeding trial. According to the American Pet Products Association (APPA), the number of households owning some or other kind of pets will rise substantially in coming years.

Animal and Pet Food Market Trends, Drivers, Restraints, and Opportunities

• Increasing rate of pet ownership globally and especially across the developing regions is expected to drive the market growth in the coming years.
• Rising awareness among the consumers in providing healthy feed to their pets is a key factor boosting the market expansion during the forecast period.
• Growing per capita income, rising demand for healthy natural and organic food products for health-conscious pet owners in the market are anticipated to boost the growth in market in the coming years.
• Non-uniformity of regulations is expected to hinder the market growth during the forecast period.
• Lack of awareness in the consumers about their allergies to various pet animals possess as key challenge that can impede hinder the market expansion.
• R&D investment and innovative advancement in animal and pet food products are projected to offer lucrative opportunities for the market players.

Scope of Animal and Pet Food Market Report

The report on the global animal and pet food market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Animal and Pet Food Market Segment Insights

Pet Food segment is projected to represent a major market share

Based on the types, the market is segregated into pet food and animal food. The Pet food segment is projected to represent a major market share in the coming years, owing to rapidly rising popularity in pet ownership globally and growing empathy towards pets in recent years.

The Covid-19 pandemic also contributed to many people adopting pets worldwide due to them spending more time at home and alone which is anticipated to spur the market to grow substantially during the forecast period.

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E-commerce segment is expected to acquire a large market share

Based on the distribution channels, the global animal and pet food market is divided into hypermarkets/supermarkets, convenience stores, e-commerce, and others. Supermarkets and convenience account for major share in distribution channels segment, they have been go-to places for pet owners to buy pet and animal food for many years so far.

However, with advent of E-commerce platforms selling directly through their websites, pet owners were able to buy animal and pet foods at their own convenience, the covid-19 restrictions also propelled the use of e-commerce as a channel to buy pet food, which is anticipated to boost this segment at a substantial pace during the forecast period.

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Treats and snacks segment is expected to grow at a significant pace

On the basis of product types, the market is segmented into dry food, wet pet food, veterinary diets, treats and snacks, and other products. The dry food segment is expected to account a key share of the market during the forecast period owing to having a higher shelf-life and better convenience as compared to the other product types.

On the other hand, the treat and snacks segment is anticipated to expand at a significant CAGR rate during the forecast period due to their delicious taste, higher quality, use of organic ingredients. The active participation of market players in this segment launching variety of multipurpose and healthy snacks is expected to fuel the market to grow at a steady rate during the forecast period.

Dogs are projected to represent a large market share

Based on the animal types, the animal and pet food market are bifurcated into dogs, cats, and other animals. Dogs are projected to represent a large market share during the forecast period owing to increasing adoption of this animal as a pet across the globe which has spurred the industry to grow at a rapid rate. High expenditure associated with the maintenance and well-being of dogs is boosting the market for natural and high-quality dog food.

On the other hand, the cat ownership is also anticipated to rise at a significant rate worldwide as they are low maintenance animals and can live in maximum kinds of housing spaces in comparison to dogs. These factors are contributing to rise in demand for pet food across the globe at a robust CAGR during the forecast period.

North America is expected to dominate the market

On the basis of regions, the animal and pet food market are classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market at a healthy CAGR during the forecast period. The regional market growth can be attributed to growing humanization of pets and pet ownership, increased competition and expanding urbanization accompanied by increased disposable incomes.

Factors such as, rising concerns for healthy nutritional animal food diet and ethically sourced products are anticipated to propel the market in the coming years. 

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Segments

Types

• Pet Food
• Animal Food

Distribution channels

• Hypermarkets/Supermarkets
• Convenience Stores
• E-commerce
• Others

Product Types

• Dry Food
• Wet Pet Food
• Veterinary Diets
• Treats and Snacks
• Other Products

Animal Types

• Dogs
• Cats
• Other Animal Types

Regions

• Asia Pacific
• North America
• Latin America,
• Europe
• Middle East & Africa

Key Players

• Nestle Purina Petcare
• Mars Petcare
• Big Heart Pet Brands
• Blue Buffalo
• Hill’s Pet Nutrition
• Colgate-Palmolive
• J.M Smucker Company
• Dell Monte
• Royal Canin
• Well Pet LLC
• Diamond Pet Foods

Competitive Landscape

Key players competing in the animal and pet food market covered in this report are Nestle Purina Petcare, Mars Petcare, Big Heart Pet Brands, Blue Buffalo, Hill’s Pet Nutrition, Colgate-Palmolive, J.M Smucker Company, Dell Monte, Royal Canin, Well Pet LLC, Diamond Pet Foods.

• In April 2020, Nestle Purina Petcare Company acquired natural pet food brand Lily’s Kitchen, the UK's leading producer of premium wet and dry natural foods for dogs and cats. Key goal behind this acquisition was to expand its natural pet food product portfolio to meet the rising demands in the market.
• Mars Petcare has been adopting global strategies such as innovative product launch, mergers & acquisition, and online distribution of its products to expand its customer base. Some notable acquisition by the company in recent years are Natura and Eukanuba.