Global Pet Food Nutrition Market: By Animal Type (Dogs, Cats, and Others), By Form (Dry Pet Food, Wet Pet Food, and Snacks & Treats), By Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online Channel, and Others), By Source (Animal and Plant), and By Regional Analysis (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America) – Forecast Period till 2032

Description

Market Overview

In 2023, the Global Pet Food Nutrition Market was valued at USD 120.87 billion. It is anticipated to expand from USD 126.66 billion in 2024 to USD 193.65 billion by the year 2032, demonstrating a compound annual growth rate (CAGR) of 5.45% from 2024 to 2032. North America led the pet food market with a 42.55% share in 2023.Pet food products in the global market are available in various forms, including dry, wet, and treats. These products can be derived from animals or plants. They are sold through multiple distribution channels such as hypermarkets/supermarkets, specialty stores, online platforms, and others.

The increasing global pet population has significantly contributed to the market’s recent growth. Alongside the rising trend of treating pets as family members, the market is expected to grow rapidly during the forecast period.

Market Size for Global Pet Food Nutrition Market on the Basis of Revenues in USD Bn, 2018-2023

                                              Source: Maven Market Research

Factors Affecting Growth of Global Pet Food Nutrition Market

• Rising Global Pet Ownership Boosts Market Expansion: In recent years, pet ownership has surged worldwide, particularly in developing nations. Significant demographic shifts, increasing income levels, and the pandemic have been key drivers of this growth.Emerging economies in regions such as Latin America, Asia-Pacific, the Middle East, Africa, and Eastern Europe have shown a notable increase in pet ownership. The rise of the middle class in these areas is a crucial factor in encouraging pet adoption. In countries with growing economies like those in Asia-Pacific and Eastern Europe, higher disposable incomes have led to a rapid increase in pet ownership.
• Accelerated Pet Humanization Drives Global Market Growth:There has been a noticeable cultural shift in pet ownership trends globally. One significant change is the growing trend of pet humanization, where pets are treated as family members. This trend has led to increased demand for premium pet products as owners are more willing to spend on high-quality and nutritious food for their pets. The rise in pet humanization is largely attributed to millennials, who make up a substantial portion of pet owners. Many millennial couples choose to adopt pets before having children, using pet ownership as a precursor to parenthood. Consequently, these pet owners prioritize their pets’ health, seeking out nutritious food options. The growing preference for premium pet food products has gained significant traction in recent years, further driving market growth.

Restraints for the Global Pet Food Nutrition Market:

• Strict Government Regulations Limiting Market Expansion: Pet food products are subject to rigorous regulations, particularly in developed regions like the U.S. and Europe. In these markets, the scrutiny of animal feed is intense, encompassing the entire supply chain from ingredient selection to sales and marketing. These stringent regulations can hinder market growth by increasing the costs associated with developing new products, thus limiting innovation. This also leads to a higher degree of product similarity, intensifying market competition. Additionally, the lower acceptance of premium or high-cost products in some developing regions poses another challenge to market expansion.

What is the current structure of the Global Pet Food Nutrition Market?

Based on the Animal Type, the Dog segment dominates the global market with the highest revenue

Dogs represent the largest portion of the global pet population, giving this segment considerable dominance. For example, dogs are the most common pets worldwide, with one in three households having a dog. The high spending on the care and well-being of dogs is driving demand for plant-based and high-quality dog food, as pet owners become more aware of food-related health issues. Additionally, the introduction of dog treats and nutrient-rich foods significantly contributes to the growth.

Based on the Form, the Dry Pet Food segment held the largest market revenue in the Global Market

Dry pet food leads the global market due to the large proportion of dogs in the overall pet population. This form is especially preferred by dog owners because it offers greater convenience and a longer shelf life compared to wet food. Additionally, dry food is favored for its health benefits, such as promoting a healthy oral system, and is more cost-effective than wet food. Therefore, dry dog food holds a substantial share in the global market.

Based on the Distribution Channel, the Supermarket/ Hypermarket segment dominated the largest CAGR in the Global Market

The supermarket/hypermarket segment holds a leading position in global pet food sales due to the high consumer preference for the convenience these stores offer, providing a wide range of brands and prices.Specialty pet stores also contribute significantly to convenience. These stores offer a variety of exotic, custom-designed, and premium pet food products, which is expected to further boost this segment’s growth.The online channel is anticipated to experience substantial growth during the forecast period, driven by the increasing tendency of millennials to shop online.

Based on the Source, the Animal Source segment Registered the Largest Market Share in the Global Market

The animal source segment dominates the market due to its traditional and extensive use in pet food production. Ingredients such as fish meal, poultry meal, and animal meal are commonly used in cat and dog foods worldwide. The strong nutrient profile and easy availability of animal-sourced ingredients contribute to their popularity.

Based on the Region, the North American regiondominated the largest CAGR in the Global Market

North America holds a dominant share in the pet food market, driven by a significant number of pet owners in the U.S. The increasing trend of pet humanization has boosted the demand for nutritious and natural pet foods. Europe also shows strong growth due to rising pet humanization and spending on sustainable pet food, with the U.K. leading the market. Asia Pacific is rapidly expanding, fueled by growing pet adoption in China, India, South Korea, and Japan. Brazil, the second-largest market globally, benefits from high pet ownership and a focus on high-quality pet foods. Meanwhile, the Middle East and Africa are seeing growth due to increased companion animal adoption and a burgeoning middle class, particularly in Africa

Competitive Landscape

This market has a somewhat consolidated competitive environment due to the presence of multinational corporations attempting to meet the high demand from a sizable end-user base and consumers. Prominent industry players are inclined to use novel marketing approaches and leverage cutting-edge technology in order to fortify their clientele and augment their earnings in the near future. As part of their strategic ambitions, businesses are also expanding through mergers and acquisitions. For instance, Oxbow Animal Health, a small pet company that sells high-quality food and nutrients for hamsters, pigs, rabbits, and other animals, was purchased by Manna Pro in January 2022. Some of the major players operating in the market includes Mars Incorporated, Nestle S.A, The J.M. Smucker Company, Colgate-Palmolive Company, General Mills, Inc., Diamond Pet Foods, Heristo AG, TiernahrungDeuerer GmbH , Merrick Pet Care, Inc and WellPet LLC

Market Segmentation

By Animal Type

• Dogs
• Cats
• Others

By Form

• Dry Pet Food
• Wet Pet Food
• Snacks & Treats

By Distribution Channel

• Supermarket/Hypermarket
• Specialty Stores
• Online Channel
• Others

By Source

• Animal
• Plant

By Regional Analysis

North America

• S.
• Canada
• Mexico

Europe

• Germany
• France
• Italy
• Spain
• Russia
• United Kingdom
• Rest of Europe

Asia Pacific (APAC)

• China
• India
• Japan
• Australia
• Rest of Asia Pacific

South America

• Brazil
• Argentina
• Rest of South America

Middle East and Africa (ME&A)

• South Africa
• Saudi Arabia
• Rest of the MEA

Major Key Players Operating in the Global Pet Food Nutrition Market

• Mars Incorporated
• Nestle S.A.
• The J.M. Smucker Company
• Colgate-Palmolive Company
• General Mills, Inc.
• Diamond Pet Foods
• Heristo AG
• TiernahrungDeuerer GmbH
• Merrick Pet Care, Inc.
• WellPet LLC