Market Overview:

The Pet Food Market size is estimated to reach $90 billion by 2030, growing at a CAGR of 8.4% during the forecast period 2023-2030, according to a recent report published by IndustryARC. The growth of the Pet Food Market is fueled by the increasing innovation by pet food manufacturers and rising demand for premium pet food products.

Read the full report here - “Pet Food Market By Food Type (Semi-moist Foods, Kibble Foods (Biscuits, Snacks, Flaked Cereals, Shaped Pellets, Others), Canned Foods (Salmon, Tuna, Shrimp, Others), Veterinary, Nutritional Foods, Other Dry Foods), By Animal Type (Cat, Dog, Rabbit, Birds, Fish, Ferrets, Others), By Nature (Conventional, Organic), By Price (Premium, Mass), By Source Type (Animals, Plants, Cereals, Others), By Packaging(Tin cans, Premade multi-layered pouches, Bags Roll stock, Corrugated boxes, Others), By Distribution Channel (Offline Platforms (Hypermarkets/Supermarkets, Speciality Pet Food Stores,  Others) Online Platforms), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030”.

North America Accounted for Significant Market Share In 2022:

North America led the Pet Food market with a 37.1% share in 2022. It is due to the trend of pet humanization and the emergence of private-label retail brands. Increasing innovation by pet food manufacturers is one of the major factors driving the market growth of the North America region.

Pet Food Market Growth Drivers:

Increasing Demand for Premium Pet Food Products Drives the Market Growth

Pet owners have become more selective about choosing appropriate food for their pets. Rising demand for premium brands due to high disposable income, humanization trends and increasing awareness of pet health and wellness are driving the Pet Food market growth. To capitalize on this trend, several pet food manufacturers have also started providing a range of premium products such as gluten-free, organic, GMO-free and multivitamins and minerals-rich products, offering improved health benefits. Preference for pet food (including probiotics in dry formulas) which helps to maintain digestive health, dog food with Omega 3 & 6 fatty acids for healthy skin and glucosamine for strong bones & healthy joints which further supports health was observed. This contributes to market growth. For instance, in 2022, as per Square Space Report, more than 50% of pet owners are willing to purchase premium pet foods and eco-friendly pet care products. Increasing consumer desire to feed their pets nutritional food like vitamins, minerals, protein and fiber; and increasing innovation by pet food manufacturers are leading to the key Pet Food market trends.

For More Queries About "Pet Food Market" @ https://www.industryarc.com/support.php?id=511141

Increasing the Health Awareness among Customers Toward the Organic Product for Pets Propels the Market Growth

The market for organic pet food is growing rapidly due to an increase in pet owner attention toward the health and welfare of their pets. A rising number of health problems affecting pets have influenced pet owners to choose organic and eco-friendly pet food over conventional pet food. Organic pet food has health benefits for pets such as a reduction in fewer digestive disorders, allergies and ailments as well as better overall health and quality of life. Pet food packaging and marketing are also humanized with photos of steaks, broccoli, carrots and salmon which are exploding with color. As per Petkenn, In 2020, organic pet food purchases reached $22.8 billion. Therefore, rising demand for organic food is propelling the growth of the Pet Food Industry, thereby contributing to the Pet Food Industry Outlook.

Scope of Report:                     

Report Metric

Details

Base year considered

2022

Forecast period

2023–2030

CAGR

Growing at the rate of 8.4%

Market Size

90 billion USD

Segments covered

Food Type, Animal Type, Nature, Price, Source Type, Packaging, Distribution Channel and Region




Geographies covered

North America (the US, Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America), the the Rest of the World (the Middle East and Africa).




Key Market Players

  1. Mars Pet care, Inc.

  2. General Mills

  3. Nestle Purina Pet Care

  4. The J.M. Smucker Company

  5. Hill’s Pet Nutrition

  6. Diamond Pet Foods

  7. Simmons Pet Food

  8. Global Pet Care

  9. Agrolimen SA

  10. Deuerer


Recent Developments:

  • In November 2022, Mars Petcare announced that it had signed a definitive agreement to acquire Champion Pet foods such as ORIJEN and ACANA which have established a strong and trusted reputation in more than 90 countries.
  • In July 2021, Nestlé Purina Pet Care Co. invested $182 million to expand the pet care products in King William County, Virginia, United States. 

Pet Food Market: Competitive Landscape

Key companies profiled in the Pet Food Market report are Mars Pet care, Inc., General Mills, Nestle Purina Pet Care, The J.M. Smucker Company, Hill’s Pet Nutrition, Diamond Pet Foods, Simmons Pet Food, Global Pet Care, Agrolimen SA and Deuerer.

To request for a quote, provide your details in the below link:

Media Contact:
Mr. Venkat Reddy
Sales Manager

Contact Sales: +1-970-236-3677

About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.