Pet Food Market Size Estimated to Exceed US$ 154.04 Billion Globally By 2027 | CAGR of 5.42%

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Pet Food Market Size Estimated to Exceed US$ 154.04 Billion Globally By 2027 | CAGR of 5.42%

February 06
23:24 2023
Pet Food Market Size Estimated to Exceed US$ 154.04 Billion Globally By 2027 | CAGR of 5.42%
Pet food represents food products formulated to meet the nutritional requirements of domesticated animals. The global market reached a value of US$ 112.87 Billion in 2021.

According to IMARC Group’s latest report, titled “Pet Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global pet food market reached a value of US$ 112.87 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 154.04 Billion by 2027, exhibiting a CAGR of 5.42% during 2022-2027.

Pet food represents food products formulated to meet the nutritional requirements of domesticated animals. They involve dry pet food, canned and wet pet food, treats and snacks, etc., which are prepared using seafood, meat, peas, barley, corn, feed grain, etc. Pet food items offer numerous health benefits, including boosting immunity, enhancing life expectancy, maintaining a healthy weight, preventing the risk of skin ailments and allergies, and reducing digestive disorders. Consequently, they are in extensive demand among pet owners across the globe.

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Pet Food Market Trends:

The growing number of individuals following the trend of pet humanization and the rising concern about the well-being and healthy growth of pets are among the key factors driving the pet food market. In addition to this, the increasing focus among leading manufacturers on resourcing ethically viable products and incorporating modifications in the manufacturing process is acting as another significant growth-inducing factor.

Apart from this, the introduction of several products specific to the age, breed, and size of pets in smaller, single-serve, and disposable containers in order to facilitate convenience to both the pets and owners is also positively influencing the global market. Besides this, the inflating investments by manufacturers in product promotions and advertisements to expand the consumer base and the elevating product availability on e-commerce channels are expected to propel the pet food market over the forecasted period.

Note: The Report offers a comprehensive analysis of the industry, which comprises insights on the global market statistics. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

Competitive Landscape with Key Players:

The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

  • Mars Petcare Inc.
  • Nestlé Purina Pet Care
  • Hill’s Pet Nutrition
  • The J.M. Smucker Company

 

Key Market Segmentation:

The report has categorized the market based on pet type, product type, pricing type, ingredient type and distribution channel.

 

Breakup by Pet Type:

  • Dog Food
  • Cat Food
  • Others

 

Breakup by Product Type:

  • Dry Pet Food
  • Wet and Canned Pet Food
  • Snacks and Treats

 

Breakup by Pricing Type:

  • Mass Products
  • Premium Products

 

Breakup by Ingredient Type:

  • Animal Derived
  • Plant Derived

 

Breakup by Distribution Channel:

  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Online Stores
  • Others

 

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

 

Explore full report with TOC & List of Figureshttps://www.imarcgroup.com/request?type=report&id=667&flag=C

 

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

 

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

 

Related Reports by IMARC Group:

Animal Feed Market: https://bit.ly/3JFCjuf

Organic and Natural Pet Food Market: https://bit.ly/3RyAJw8

 

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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