According to the Market Statsville Group, the size of the global pet food market was 39.1 billion USD in 2021 and should reach $63.7 by 2030 recording a 63.7% CAGR over the forecast period (2022-2030). Pet food is very essential because animals need nutrients according to their unique structure, so pet food companies collaborate with veterinary specialties and develop specific pet foods to meet the needs of end users.
Factors such as growing disposable income, tendency to keep a pet and others are driving the growth of the market over the forecast period.
Impact of COVID – 19 in the global pet food market
COVID-19 has negatively impacted the growth of the market, due to global lockdowns and disrupted supply chains which have been major factors hampering its growth amid the pandemic. However, people have opted to feed the animals around them and the supply has also been restored through e-commerce channels, which has had a positive impact on the growth of the market over the forecast period. Therefore, COVID-19 has had a significant impact on the growth of the market.
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Scope of the global pet food market
The study categorizes the pet food market on the basis of type of animals, ingredients, source, form, regionally and globally .
By Pet Type Outlook ( sales, million USD, 2017 – 2030 )
- Others (rabbits, birds and horses)
By Ingredients Insights ( Sales, Million USD, 2017 – 2030 )
- Corn & semolina
- Wheat and wheat flour
- Vegetables & Fruit
- i am and i am meals
- fish oil
- Poultry fat
- Vegetable oil
- Meat and meat products
- boneless meat
- meat meal
- Flour by-products
- animal digestion
- Vitamins & minerals
- Others (Flavors and Colors)
By source Outlook ( sales, million USD, 2017 – 2030 )
- Of animal origin
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By Outlook form ( sales, million USD, 2017 – 2030 )
Outlook by region ( sales, million USD, 2017 – 2030 )
- North America
- the Netherlands
- Czech Republic
- The rest of Europe
- Asia Pacific
- South Korea
- The Philippines
- Australia and New Zealand
- Rest of Asia-Pacific
- South America
- Rest of South America
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- North Africa
- Rest of MEA
The Dog segment is expected to account for the largest market share, by pet type
On the basis of pet type, the pet food market is fragmented into dogs, fish, cats, and other pets. In 2021, the dog food segment accounted for the majority of the market, owing to the emerging trend of nuclear families and the growing consumer inclination towards dogs for safety and companionship. Additionally, dogs need various types of essential nutrients to lead a healthy and quality life. Therefore, dog owners have focused on providing proper pet food containing essential nutrients to keep their pet healthy. These factors propel the growth of the market.
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Asia-Pacific represents the Highest CAGR over the forecast period
On a regional basis, the global pet food market has been segmented into North America, Asia – Pacific, Europe, South America, Middle East and Africa . Globally, Asia-Pacific is estimated to hold the highest market share and will hold a major share during the forecast period. The region includes countries such as China, India, Japan, South Korea, Australia, Southeast Asia and Rest of Asia – Peaceful . The growth in the region is attributed to the growing demand for premium dog food. For example, according to 2019 data from Alltech Global Feed Survey, pet food production jumped 13% in Asia-Pacific in 2018. These factors will pave the way for market growth during the period. forecast.
Key Market Players in the Global Pet Food Market
The global pet food market is highly competitive. Major players in the industry are adopting various strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their positions in the market.
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The pet food market is slightly concentrated in nature with few global players operating in the market such as:
- Mars Incorporated
- Nestlé SA
- The JM Smucker Company
- Colgate Palmolive Company
- GeneralMills, Inc.
- Diamond Pet Foods
- Heristo AG
- Pet food Deuerer GmbH
- Merrick Pet Care, Inc.
- WellPet LLC