The global pet food market size was US$ 39.5 billion in 2021. The global pet food market size is forecast to reach US$ 63.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 63.9% during the forecast period from 2022-to 2030.
Pet food is a type of plant or animal product, such as meat, used to feed pets. Fruits and vegetables, animal products and derivatives, grains and oilseeds, vitamins, and minerals are all included in pet food ingredients. Calcium, fiber, protein, carbs, and other micronutrients abound in pet food ingredients. Grains and vegetables are commonly used, especially in dog food. Each element contributes to the enrichment of the animal's physique in some way. To provide pets with a complete and balanced diet, pet food manufacturers use a variety of components.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on supply chains. Due to restrictions in the movement of raw materials, the pet food industry suffered in terms of supply and cash flow. On the other hand, pet food demand steadily increased in many regions of the world as people adopted more pets in response to an increased desire for companionship during the lockdown. Market participants shifted their focus away from brick-and-mortar stores and toward e-commerce platforms to suit this necessity.
Regional Insights
North America held dominant in the market and is forecast to maintain its dominance during the forecast period. As a result of the growing consumer awareness concerning the advantage impact on pet health and the rising trend of humanization of pets. In addition, the increasing trend of adopting pets among millennials. As per the American Pet Products Association (APPA), about 38% of the people across the U.S. own cats, and two as an average number of cats per household. Thus, these factors are forecast to fuel the market growth in the region.
Leading Competitors
The leading prominent companies profiled in the global pet food market are:
Scope of the Report
The global pet food market segmentation focuses on Pet Type, Ingredients, Source, Form, and Region.
Segmentation based on Pet Type
Segmentation based on Ingredients
Segmentation based on Source
Segmentation based on Form
Segmentation based on Region