The Petfood market was worth US$ 37 billion in 2021, and it is estimated to reach a valuation of US$ 54.3 billion by the end of 2026, expanding at an annual growth rate of about 5.4% between 2021 and 2026. Pet food is a ready-to-provide meal for domestic animals like dogs, cats, fish, birds, etc. It has been in high demand recently due to the variety of products present in the market.
Pet food consists of several components that give the pet a sufficient amount of nutrition that is essential for its growth and proper health. The increasing adoption of pets in recent years has dramatically promoted the pet food market size. The pet food industry is one that works well despite the economic downturn. The largest pet food market in the world is in the United States, France, Japan and Germany, accounting for more than half of pet food sales.
Recent Developments in Pet Food Industry:
Pet Food Market Drivers:
The growing consumer awareness of natural and organic pet food products has led manufacturers to shift their focus from synthetic products to natural products, one of the main factors influencing the pet food market. The convenience benefits associated with organic and natural dry pet foods are expected to drive demand for products. Unlike most conventional types, organic and natural pet foods are used on a large scale. The increase in demand for dog food, along with high traction in the premium pet food sector, is supposed to lead the pet food market during the forecast period. The demand for dry food multiplies compared to other products, and it is convenient to grow and store pets without raising them. This has a positive impact on urban consumers who increasingly choose dry pet food.
Canned foods are considered more delicious for dogs and cats because this type of product contains adequate protein, fat, and carbohydrates. Wet pet food is easy to digest, minimizing backyard cleaning activities. The high digestibility provided by wet foods is desirable for sick cats and dogs and demanding consumers. As a family partner, the tendency to adopt dogs is presumed to increase the demand for products. Dogs, in particular, are witnessing an upward trend in the concept of the humanization of pets. This has increased the number of people who own dogs and offer premium food. In addition, rapid urbanization is one of the main factors that drive the pet food market.
Restraints:
A significant limitation identified in the growth of the pet food market is the issue of regulatory systems. Also, the high cost of products, especially foods canned with meat proteins, can limit consumer preferences, inhibiting business growth over the outlook period.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2021 – 2026 |
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Base Year |
2021 |
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Forecast Period |
2021 - 2026 |
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CAGR |
5.4% |
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Segments Covered |
Based on pets, Basis of ingredient Depending on the form |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
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Pet Food Market Regional Analysis:
North America's pet food market has been the leading region in the business for quite some time. The regional demand for pet food is largely determined by consumer awareness of pets, along with increased consumer awareness of the beneficial effects on pet health. The trend of adopting pets among millennials is estimated to support local market growth. According to the American Pet Products Association (APPA), about 38% of people in the United States have one cat, and the average number of cats per household is two.
Europe pet food market is considered a prominent industry for quality pet food. According to the European Federation of the Pet Food Industry (FEDIAF), there is more than one pet in more than 80 million homes across Europe. Cat food products dominate the local pet food market due to the high ownership of cats. Also, in 2019, the Asia-Pacific pet food market focused on China, Japan, India, and Korea, which has become one of the leading regions in the world. The growth of the regional market may be due to an increased demand for premium dog food.
Leading Company:
Diamond Pet Foods Company is strengthening its position in the market by adopting strategies such as new product launches, expansions and investments, mergers and acquisitions, contracts, collaborations, joint ventures, and partnerships.
Key Players Involved in the pet food market:
The world's leading pet food suppliers include
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Pet Food Market, By Pet
6.1.1 Dog
6.1.2 Cat
6.1.3 Fish
6.1.4 Market Size Estimations & Forecasts (2021-2026)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Pet Food Market, By Ingredient
6.2.1 Cereals
6.2.2 Meat & Meat Products
6.2.3 Vegetables
6.2.4 Fruits
6.2.5 Fats
6.2.6 Additives
6.2.7 Market Size Estimations & Forecasts (2021-2026)
6.2.8 Y-o-Y Growth Rate Analysis
6.2.9 Market Attractiveness Index
6.3 Pet Food Market, By Form
6.3.1 Dry
6.3.2 Liquid
6.3.3 Market Size Estimations & Forecasts (2021-2026)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2021 - 2026)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Pet
7.2.3 By Ingredient
7.2.4 By Form
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Pet
7.3.3 By Ingredient
7.3.4 By Form
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Pet
7.4.3 By Ingredient
7.4.4 By Form
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Pet
7.5.3 By Ingredient
7.5.4 By Form
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Pet
7.6.3 By Ingredient
7.6.4 By Form
8. Key Player Analysis
8.1 Diamond Pet Foods
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Big Heart Pet Brands
8.3 Mars Petcare Inc
8.4 WellPet
8.5 P&G PetCare
8.6 Hill's Pet Nutrition
8.7 Nestle Purina PetCare
8.8 Blue Buffalo
8.9 Deuerer
8.10 Heristo AG
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
