The global pet food market value is forecasted to reach US$118.83 billion in 2025, growing at a CAGR of 5.4%, for the period spanning from 2021 to 2025.
Factors such as inclining pet ownership, rapid urbanization, improving consumer confidence index, pet humanization and growing popularity of raw pet food are expected to drive the market growth. However, growth of the industry would be challenged by surge in competitive pressure and retail consolidations. A few notable trends include emergence of insect-based pet foods, incorporation of cannabis in pet foods, premiumisation, industry 4.0 evolution and high purchases of single-serve cat food. In 2020, the outbreak of COVID-19 pandemic has created an unfavorable impact on the market.
The pet food industry consists of manufacturers of dog food, cat food and other (reptiles, rabbits, bird, fish and similar domestic pet eatables). Some of the popular distribution channels used by the consumers to access pet foods are retail stores, departmental stores, e-commerce, mass stores, specialty and other direct selling stores sales.
The fastest growing regional market is North America due to improving economic conditions, rising adoption of stray pets, increasing awareness of pet foods with high nutritional benefits among population in the U.S. & Canada and the rising purchase rate of raw dog treats by the urban population.
Scope of the report:
The report provides a comprehensive analysis of the global pet food market, segmented into dog food and cat food.
The major regional markets (North America, Europe and Asia-Pacific) have been analysed along with country coverage of US, Canada, UK, France, Germany, China and India.
The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.
The competitive landscape of the market, along with the company profiles of leading players i.e. Nestlé S.A., The J. M. Smucker Company, General Mills, Inc., Colgate-Palmolive Company, Unicharm Corporation and Mars, Incorporated are also presented in detail.
Key Target Audience:
Pet Food Manufacturers
Government Bodies & Regulating Authorities