The pet food market size is projected to reach US$ 268.59 billion by 2031 from US$ 183.39 billion in 2024. The market is expected to register a CAGR of 5.6% during 2024–2031. The rising demand for natural and vegan pet food products is likely to bring new trends into the market during the forecast period.
The growing preference for premium and natural ingredients, emphasizing transparency and sustainability in the sourcing and production of pet food, is influencing the evolving consumer behavior. E-commerce platforms have become a crucial distribution channel, allowing pet food brands to reach a wider audience and offer convenient home delivery services. Innovations in packaging, such as resealable bags and eco-friendly options, have further contributed to the market's expansion. Key players in the industry are continuously investing in research and development to offer specialized products that meet the diverse needs of pets, including those with dietary restrictions, aging pets, and those requiring medical or therapeutic diets. Therefore, as consumer awareness about pet nutrition increases, the market will likely see further innovation and growth across different segments.
The pet food market has experienced significant growth over the past few years, driven by increasing pet ownership, rising disposable incomes, and an evolving focus on the health and wellness of pets. As more people view pets as family members, there has been a corresponding rise in demand for high-quality, nutritious, and specialized food products. Pet owners increasingly seek food options that cater to specific needs, such as organic, grain-free, and hypoallergenic formulations.
The global pet food market is experiencing robust growth, significantly driven by the rising demand for dry pet food products. Dry pet food, commonly referred to as kibble, continues to gain popularity due to its numerous practical and health-related advantages. Among its most prominent benefits are ease of storage, extended shelf life, cost efficiency, and improved pet dental hygiene. Unlike wet food, dry formulations are less susceptible to bacterial contamination, making them a safer and more convenient choice for pet owners. Dry pet food promotes mastication, which naturally aids in maintaining oral health by reducing tartar accumulation and minimizing the risk of periodontal disease. Veterinary research supports the use of specially designed dental kibbles, which have been shown to decrease plaque buildup and inflammation of the gums in both dogs and cats. Furthermore, the ability to accurately portion dry food contributes to better weight management and nutritional regulation for pets, a growing concern among health-conscious pet owners.
From a logistical perspective, dry pet food offers advantages in distribution and storage, especially for retailers and suppliers. Its lightweight, compact packaging and resistance to spoilage under ambient conditions contribute to reduced wastage and improved inventory control. Additionally, dry pet food's compatibility with slow feeders and food-dispensing toys enhances pets’ cognitive engagement, reinforcing the perception of kibble as both a nutritional and enrichment tool. The shift in consumer lifestyles, particularly in urban settings, further supports the trend toward convenient pet care solutions. Pet owners are increasingly seeking products that align with busy routines without compromising their pets’ well-being. This preference is reinforcing demand for dry pet food across both developed and emerging markets.
Thus, the combination of factors such as nutritional benefits, ease of use, and adaptability of dry pet food is significantly contributing to its rising adoption, in turn, fueling the growth of the pet food market, as manufacturers continue to innovate in product formulation, packaging, and distribution to meet evolving consumer expectations.
Capacity expansion, mergers and acquisitions, and product launches are among the strategies being adopted by the key players operating in the pet food market to improve the supply chain and stay competitive in the market. For instance, in 2024, Nestlé Purina PetCare invested US$ 195 million to expand its production facility in Jefferson (Wisconsin, US). Furthermore, with an aim to enhance its manufacturing capabilities in Mexico, Nestlé Purina made a strategic investment of US$ 220 million in May 2024 to expand its plant in Silao (Guanajuato). This move is expected to increase its production capacity to 285,000 metric tons of dry food and 50,000 metric tons of wet food, representing an increase of 25% and 40%, respectively, for each food segment. In 2023, Blue Buffalo Co. Ltd. (a pet food manufacturer) invested US$ 200 million to expand operations in Richmond (Virginia, US). The company plans to boost its processing operations and warehouse capacity by building a 169,000-sq.ft facility. Through this expansion, the company plans to add up to 60 jobs by the end of 2024. Similarly, ADM opened its new pet food production line in Guadalajara in 2023 by investing US$ 33 million, which will benefit its Ganador and Minino pet food brands and support innovations in its nutrition portfolio.
Key segments that contributed to the derivation of the pet food market analysis are product type, pet type, category, and distribution channel.
Based on product type, the market is segmented into dry food, wet food, and snacks & treats. The dry food segment held the largest share of the market in 2024. By pet type, the market is bifurcated into dogs and cats. The dogs segment dominated the market in 2024.In terms of category, the market is bifurcated into animal-based and plant-based. The animal-based segment dominated the market in 2024.Based on distribution channel, the market is segmented into supermarkets and hypermarkets, pet specialty stores, vet clinic, convenience stores, online retail, and others. The supermarkets and hypermarkets segment dominated the market in 2024.
The geographical scope of the pet food market report is mainly divided into six regions: North America, Europe, Asia Pacific, South and Central America, Sub Saharan Africa, and Middle East and North Africa.
Emerging economies are witnessing a surge in the middle-class population, coupled with growth in urbanization, which is driving the pet food market growth. As consumers become more health-conscious and seek convenient meal options, the demand for nutritious food products is on the rise. Additionally, the trend of humanization extends to food, as pet owners show a growing concern for their pets' nutrition and overall well-being, influencing their purchasing decisions. The enhanced connectivity provided by e-commerce platforms in this region has further boosted food sales, allowing consumers easier access to a wider variety of products. Additionally, the trend of humanization extends to food, as pet owners show a growing concern for their pets' nutrition and overall well-being, influencing their purchasing decisions. The enhanced connectivity provided by e-commerce platforms in this region has furtheboosted food sales, allowing easier access to a wider variety of products. Brand loyalty is becoming increasingly pronounced, with consumers favoring established brands over local products, thus creating numerous opportunities for food manufacturers to expand their market presence in Asia Pacific. For example, Symrise AG acquired Wing Pet Food (a pet food palatability enhancer) in February 2022 to strengthen its market position in the Asia Pacific. This acquisition is expected to accelerate diversification in the pet food application and extend Symrise's access in the region.
The pet food market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A recent key development in the pet food market is mentioned below:
The "Pet Food Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
Pet food market size and forecast at global, regional, and country levels for all the key market segments covered under the scope Pet food market trends as well as market dynamics such as drivers, restraints, and key opportunities Detailed Porter's Five Forces and SWOT analysis Pet food market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the pet food market Detailed company profiles
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 183.39 Billion |
| Market Size by 2031 | US$ 268.59 Billion |
| Global CAGR (2024 - 2031) | 5.6% |
| Historical Data | 2021-2023 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
North America accounted for the largest share of the market in 2024.
The pet food market size is projected to reach US$ 268.59 billion by 2031.
Increasing pet ownership, humanization of pets, and high demand for dry pet food products are major factors contributing to the growth of the market.
The rising demand for natural and vegan pet food products is likely to emerge as a key trend in the market in the future.
Mars Inc; Nestle SA; J M Smucker Co; General Mills Inc; United Petfood Group BV; Colgate Palmolive Co; Monge & C SpA; Butcher’s Pet Care Limited; VAFO Group AS; Inspired Pet Nutrition Ltd; First Class Pet Co Ltd (Little BigPaw); Symply Pet Food Ltd; MPM Products Ltd; Burns Pet Nutrition Ltd; Forthglade Foods Ltd; Furchild Nutrition LLC; Wunderdog Animal Feed Manufacturing LLC; Cagatay Pet Food; Schell & Kampeter, Inc; and Burgess Group PLC are among the key players operating in the pet food market.