Latest News- Dog Food Market: Dry dog food is expected to lead the Product segment during 2024-2028

The Dog Food Market is being driven by Increasing pet health awareness

The Dog Food Market is expected to grow at a CAGR of 4.39% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 16.1 billion. In recent decades, the humanization of pets has led to a significant shift in pet ownership trends. With pets now being regarded as cherished family members, pet owners have become increasingly conscious of their health and well-being. Consequently, pet care service providers have responded by elevating the quality and value proposition of their offerings. The humanization of pets, coupled with rising income levels and smaller family sizes, has resulted in a surge in pet ownership in emerging economies. The COVID-19 pandemic further accelerated this trend, enabling more people to care for their pets full-time and strengthening the bond between humans and their furry companions. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Dry dog food
  • Dog treats and snacks
  • Wet dog food
• Distribution Channel
  • Offline
  • Online
• Formulation
  • Natural/Organic
  • Grain-Free
  • High-Protein
  • Weight Management
• Price Range
  • Premium
  • Mid-Range
  • Economy
• Geography
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • Italy
    • UK
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
    • Egypt
    • KSA
    • Oman
    • UAE
  • South America
    • Argentina
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing pet health awareness
• Increasing focus on health and wellness of pets
• Marketing campaigns and packaging innovations

However, the market also witnesses some limitations, which are as follows:

• Changing lifestyle patterns and busy work lives of urban populace
• Risks of product recalls
• Increasing instances of pet allergies among pet owners

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Market Scope in Dog Food Market Research Report

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Research Analysis Overview

The dog food market is experiencing significant growth, driven by various factors including the increasing number of pet adoption, consumer inclination towards providing nutritious food for their pets, and the convenience of e-commerce platforms. Companies like Chewy and Doggie Dailies are leading the way in this market, offering a wide range of options from GFSI and FSSAI certified brands. Acquisitions have played a key role in shaping the market, with major players acquiring smaller brands to expand their product offerings. For instance, Chewy's acquisition of PetVet Brands in 2020 added popular brands like Wellness and Old Mother Hubbard to their portfolio. Obesity in pets is a growing concern, leading to a demand for low-calorie and nutritious food. Meat and meat byproducts remain popular raw materials, with an increasing focus on the use of organic and free-range sources. Antioxidants, probiotics, and essential ingredients are also essential components of high-performance dog food. Flavors and convenience are also important considerations for pet owners. Prepared pet food, including cereals and kibble, are popular choices due to their ease of use and long shelf life. However, there is also a growing trend towards raw and organic pet food, which can offer more natural and nutritious options for pets. Consumer inclination towards performance and pet health is driving innovation in the market, with companies investing in research and development to create food that supports digestion and overall pet wellbeing. Similarity bias, or the tendency to choose food that resembles what pets would eat in the wild, is also influencing product development.

Market Research Overview

The global packaged foods and meats market encompasses vendors engaged in food processing to ensure microbial elimination and shelf life extension. According to Technavio, the market's size is determined by the consolidated revenue generated by the market participants. This market segment excludes food processing equipment manufacturers and producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. Key growth drivers for the global packaged foods and meats market include the health benefits associated with consuming minimally processed foods, such as vegetables, which are rich in essential nutrients like potassium, dietary fiber, folate (folic acid), vitamin A, and vitamin C. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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Website: www.technavio.com/