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Global Pet Food Market to Reach US$ 128 Billion by 2024

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"Pet food is defined as any commercial feed that is prepared and distributed for consumption by pets. It is usually specific to the type of animals such as dog food, cat food, etc. Leftovers from the human industry may also be used in pet food through a process called rendering."

Owing to an increase in the nuclear families, aging population and growing urbanisation rates, people have started turning to animals for companionship. As a result, there has been a major rise in the global pet population in recent years, due to which, there has been an increase in the demand for pet foods. According to Expert Market Research, the global pet food market reached a value of US$ 98.9 Billion in 2018 and is further expected to reach US$ 128 Billion by 2024.

global pet food market

There are several factors that are stimulating the growth of the global market for pet food. With rising pet population, there has been a trend of pet humanisation which has made pet owners to treat their pets as their family members. Consequently, pet owners are now conscious about the well-being of their pets and are ready to increase their expenditure on nutritional and high-quality pet food. Moreover, increasing cases of obesity and other diseases among pets have augmented the demand for nutritious and organic products. Other factors like growing demand for premium products, easy availability of pet food, convenient packaging, innovations in flavours, and increase in variety and organic products are also fuelling the demand for pet foods.

Key findings from the report:

  • Different types of pet food available in the market are dog food, cat food and others. In 2018, dog food dominated the market accounting for the majority of the global sales value.
  • Region-wise, the United States dominated the market with a share of more than a quarter of the total global sales in 2018. This can be attributed to a rise in pet ownership in the region. The United States was followed by Brazil, Japan, the United Kingdom, France, Germany, Russia and Italy.
  • The global pet food market is surrounded by a number of small and big players operating in the market. In 2018, Mars Petcare Inc. represented the biggest player accounting for nearly one-fourth of the total global sales. Mars Petcare Inc. was followed by Nestle Purina PetCare, Hill’s Pet Nutrition and Big Heart Pet Brands.

Expert Market Research has analysed the global pet food market according to type, major regions and top players:

Market breakup by Type

-    Dog food
-    Cat food
-    Others

Market breakup by Major Regions

-    United States
-    Brazil
-    Japan
-    United Kingdom
-    France
-    Others

Top players

-    Mars Petcare Inc.
-    Nestle Purina PetCare
-    Hill’s Pet Nutrition
-    Big Heart Pet Brands
-    Others

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"Global Pet Food Market: By Type: Dog Food (Market Trends, Market Outlook), Cat Food (Market Trends, Market Outlook); By Region: United States, Brazil, Japan, UK, France, Others; Imports and Exports; Historical Demand and Supply (2015-2019), Demand and Supply Forecast (2020-2025); SWOT Analysis; Value Chain Analysis; Market Outlook; United States Pet Food Market; Porters Five Forces Analysis; Competitive Landscape; Setting Up a Pet Food Manufacturing Plant; Capital Investment; Operating Expenditures; Project Economics"

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