The Pet Food Market is expected to grow at a CAGR of 6.15% to reach USD 41 billion by 2028. In the dynamic pet food market, there is a growing emphasis among vendors, both large and small, to broaden their product offerings with savory, gourmet ingredients. Nestle SA, a leading player in the industry, has introduced PRO PLAN SAVOR SHREDDED BLEND, a specialty cat food line featuring a unique combination of hard kibble and tender meat. This trend towards pet food with savory flavors is anticipated to gain significant traction, with an increasing number of companies launching such products during the forecast period. Additionally, the rising popularity of smaller dog breeds necessitates the production of smaller portions to cater to their specific nutritional needs.
North America dominates the regional market because of In the pet food market, consumer demand for high-quality, nutritious, and safe products continues to escalate. Brands that prioritize transparency in their ingredient sourcing and manufacturing processes are gaining market share. Innovative offerings, such as grain-free, raw, and organic options, cater to diverse pet dietary needs. Competitive pricing and effective marketing strategies further distinguish leading players in this lucrative industry.
There are various factors that drive the Pet Food Market market which are as following: Organic pet food adheres to USDA regulations, as indicated on the label, ensuring it is a natural and authentic food source for pets. To obtain organic certification, pet food must consist of plant ingredients, grown without pesticides, artificial fertilizers, genetic modification, irradiation, or sewage sludge, and animal ingredients sourced from animals fed organic feed, granted access to the outdoors, and not treated with antibiotics or hormones. With the increasing awareness and preference for organic and natural food among consumers, the demand for similar options in pet food is escalating.
Be the first one to get the industry updates. Request for a sample report
Pet Food Market Segmentation
Product (Dry food, Wet food, Snacks and treats) Type (Dog food, Cat food, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa)
The market witnesses several challenges, which are as follows In the pet food market, food safety and consumer health are paramount concerns. The presence of harmful bacteria such as Campylobacter jejuni in animals poses a risk of transmitting diseases like cryptosporidiosis to humans, particularly children. Allergic reactions to pets are also prevalent, with 15%-30% of allergies, including asthma and allergic rhinitis, attributable to dogs or cats. These animals' proteins in saliva and urine, as well as dander, can trigger abnormal immune responses in susceptible individuals, leading to symptoms such as swelling, itching, redness, rashes, coughing, and asthma attacks. Furred and feathered animals, particularly cats and birds, can exacerbate allergies in humans. Ensuring the highest standards of animal health and proper hygiene practices in pet care is essential to mitigate these risks and maintain consumer trust in the pet food industry.
Stay ahead of your competitors. Download the Free PDF report
Some of the key companies that have been profiled in the report include:
The global packaged foods and meats market encompasses vendors engaged in food processing to eliminate microorganisms and enhance shelf stability. According to Technavio, the market's size is determined by the consolidated revenue generated by the participating market players. This market segment excludes manufacturers of food processing equipment 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 linked to the consumption of minimally processed foods, such as vegetables, which are rich in essential nutrients like potassium, dietary fiber, folate (folic acid), vitamin A, and vitamin C. - The Pet Food Market is experiencing significant growth, fueled by the Growing demand for organic pet food. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
The pet food market is a thriving industry, with pet owners increasingly focusing on the nutrient profile of their furry friends' meals. Skin and coat health, obesity prevention, and dietary needs are top priorities for pet owners, leading to the demand for personalized and customized products. Stockpiling of pet food became a trend during the pandemic, resulting in a surge in sales for both wet and dry pet food, snack treats, and even plant-based and animal-based options for dogs, cats, rodents, small mammals, and birds. Commercial foods now offer a wide range of essential ingredients, including antioxidants, probiotics, and innovative ingredients, to cater to the diverse dietary needs of pets. The trend towards pet humanization and premiumization has led to an increase in organic pet food and home-cooked meals, with flavors and innovative ingredients to cater to pets' taste preferences. Pet adoption rates have also contributed to the growth of the pet food market, with an estimated 200 million pets worldwide. Overall, the pet food market continues to evolve, offering a wide range of options to meet the unique needs of pets and their owners.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
