The Pet Food Industry: A Vital Part of the Pet Ownership Experience

 

 

Global pet food sector database is a collection of market sizing information & forecasts, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

 

Access the Global Pet Food Industry Data Book, 2023 to 2030, Compiled Report By Grand View Research

 

Cat Food Market Report Highlights

 

The global cat food market size is growing at a CAGR of 3.8% during the forecast period, as per a new report by Grand View Research, Inc.
• The market is estimated to advance at a CAGR of 4.4% from 2023 to 2030. This is attributed to the increase in pet obesity, the rise of nuclear families, the humanization of pets, growing awareness of pet health, and regulatory limitations on pet food manufacturing
• The dry food type segment is anticipated to grow at a CAGR of 4.4% from 2023 to 2030. This is attributed to its long shelf life. Due to its low moisture content, dry food is less likely to spoil or attract pests, which means that it can be stored for a longer period without issue
• The online distribution channels segment is expected to witness significant growth from 2023 to 2030. This is attributed to convenient, simple, and efficient ways to access high-quality products. Online stores offer a range of options for pet owners, including premium and specialty cat food brands that may not be available in traditional retail stores
• Asia Pacific is expected to emerge as the fastest-growing region with a CAGR of 5.2% from 2023 to 2030. This is attributed to the growth in disposable income and rapid urbanization. Furthermore, the shift toward smaller households may also contribute to the rise of pet ownership including cats in Asia Pacific, as pets provide companionship and emotional support to individuals
• Moreover, companies are involved in mergers, acquisitions, and product innovations to cater to the market. For instance, in 2022, Diamond Pet Foods announced the completion of its new manufacturing and distributing unit in Rushville, Indiana with an investment of USD 260 million by 2024

 

Dog Food Market Report Highlights

 

The global dog food market is expected to expand at a CAGR of 4.4% from 2023 to 2030.

• The dry food segment is estimated to register the fastest CAGR of 5.2% from 2023 to 2030 due to several advantages, such as cost-efficiency, convenience, nutritional balance, modern and novel formulations, and longer shelf life
• The online sales channels segment is expected to record the fastest CAGR from 2023 to 2030. The online sales of dog food are propelled by the busy lives people lead, the convenience of user-friendly websites/apps, and the easy availability of products
• Asia Pacific is estimated to emerge as the fastest-growing region with a CAGR of 5.8% from 2023 to 2030 due to swiftly changing lifestyles and rapid urbanization, which has led to changes in lifestyles, where smaller living spaces and busy schedules make it more convenient for pet owners to opt for commercial dog food over homemade alternatives
• Fluctuations in the cost of raw materials used in dog food production, such as meat, grains, and vegetables, can impact the pricing of finished products. High raw material costs may result in higher retail prices, which can deter price-sensitive consumers

 

Order your copy of Free Sample of “Pet Food Industry Data Book –Market Size, Share, Trends Analysis And Segment Forecasts, 2023 - 2030” published by Grand View Research

 

 

Competitive Landscape

 

The competitive landscape of the pet food market is moderately consolidated with the presence of multinational companies striving to fulfill high demand from large customer and end-user base. Key industry players are increasingly embracing innovative marketing strategies and leveraging advanced technologies to enhance their revenue generation and expand their customer base in the foreseeable future.

 

Key players operating in the Pet Food Industry are –

• The J.M. Smucker Company
• The Hartz Mountain Corporation
• Mars, Incorporated
• Hill’s Pet Nutrition, Inc.
• Nestlé Purina
• LUPUS Alimentos
• Total Alimentos
• General Mills Inc.
• WellPet LLC