PUBLISHER: The Business Research Company | PRODUCT CODE: 1409364
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409364
“Dog And Cat Food Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on dog and cat food market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for dog and cat food? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The dog and cat food market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Dog and cat food encompasses any feed specifically prepared and distributed for consumption by dogs or cats, formulated to meet their nutritional requirements. It serves the purpose of providing essential calories and nutrients.
The various types of dog and cat food include dry food, wet food, treats and snacks, among others. Dry food is produced by combining wet and dry ingredients to create dough. The nature of these foods can be organic or conventional, and they are typically available through supermarkets, hypermarkets, specialized pet shops, online retailers, and other sales channels.
The dog and cat food market research report is one of a series of new reports from The Business Research Company that provides dog and cat food market statistics, including dog and cat food industry global market size, regional shares, competitors with dog and cat food market share, detailed dog and cat food market segments, market trends, and opportunities, and any further data you may need to thrive in the dog and cat food industry. This dog and cat food market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The dog and cat food market size has grown strongly in recent years. It will grow from $58.57 billion in 2023 to $62.98 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to the traditional culture of pet ownership, the convenience factor driven by busy lifestyles, the trend of pet humanization, the preference for vet-recommended diets, and the impact of increasing urbanization.
The dog and cat food market size is expected to see strong growth in the next few years. It will grow to $84.48 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to the increasing focus on health and wellness for pets, the trend towards premiumization and specialized diets, the growth of e-commerce in the pet food industry, the emphasis on sustainable and ethical pet food choices, and the rising demand for customization and personalization. Major trends in the forecast period include a continued focus on health and wellness, the rise of alternative proteins, increased emphasis on transparency, the aging pet population and specialty diets, as well as innovations in packaging.
The upward trend in pet adoption is poised to drive the expansion of the dog and cat food market in the foreseeable future. Pet adoption involves taking responsibility for and providing care to animals previously abandoned or sheltered. This surge in pet adoption significantly amplifies the demand for dog and cat food, essential for meeting the nutritional needs of these pets. Notably, in 2021, Chewy Inc., a prominent US-based online retailer of pet products, reported approximately 977,202 pet adoptions in the US, marking the highest adoption rate of 61% witnessed in the past six years. Consequently, the burgeoning rates of pet adoption stand as a catalyst propelling growth within the dog and cat food market.
The anticipated rise in disposable income is set to fuel the expansion of the dog and cat food market. Disposable income signifies the residual funds available to individuals or households after deducting taxes and mandatory expenses. In the context of pet food, higher disposable income often translates to increased consumer inclination towards premium pet food choices. These options generally offer superior quality ingredients, specialized formulations catering to specific health requirements, and enhanced taste. For instance, between 2020 and 2022, statistics from the UK's Office of National Statistics indicated an annual average increase of 0.7% in median household disposable income. This financial uptick plays a pivotal role in driving the growth trajectory of the dog and cat food market.
Product innovation emerges as a prominent trend gaining traction within the dog and cat food markets. Leading companies operating in this industry are strategically focused on developing innovative products to fortify their market presence. For instance, in September 2023, Omni Pet Ltd., a renowned UK-based provider of plant-based pet food, introduced the Meat-Style Wet Food. This novel range aims to offer dogs the taste and texture resembling meat while being entirely plant-based. Crafted from high-quality plant-based ingredients such as soy protein, pea protein, and lentils, the food range is fortified with essential vitamins and minerals to ensure adequate nutrition for dogs. Consumers have the option to purchase it in cans as a complete meal or in sachets to complement dry food. This innovation underscores the ongoing focus on creating novel and appealing offerings within the dog and cat food market.
Leading companies within the dog and cat food market are directing their efforts toward innovating products, particularly in the wet food category, to secure a competitive advantage. Wet food, commonly fed to dogs and cats, boasts a higher moisture content, typically ranging between 60-80%, compared to dry food, which generally contains 10-12% moisture. As an illustration, in June 2023, Pet Supplies Plus, a US-based retail corporation specializing in supplies for pets, introduced the OptimPlus Wet Food line. This new range includes both dry and wet food variants tailored for dogs and cats, formulated to offer optimal nutrition across various life stages. OptimPlus wet food features real meat or poultry and offers diverse textures catering to different pet preferences. Moreover, it comprises a blend of essential vitamins, minerals, and antioxidants aimed at bolstering overall pet health.
In February 2023, Mars Incorporated, a prominent US-based producer of confectionery, pet food, and various food products, completed the acquisition of Champion Pet Foods LP, with the financial terms undisclosed. This acquisition marks a pivotal step wherein Mars Incorporated intends to amalgamate resources with Champion Pet Foods to enhance its global portfolio within the pet nutrition domain and health services, contributing toward improving the lives of pets worldwide. Champion Pet Foods LP, an esteemed premium pet food company based in the United States, specializes in utilizing top-quality WholePrey animal ingredients in its products.
Major companies operating in the dog and cat food market report are Nestle Purina PetCare Company, The J.M. Smucker Company, Evanger's Dog & Cat Food Company Inc., Procter & Gamble Company, Hill's Pet Nutrition Inc., Del Monte Foods Inc., Affinity Petcare S.A., Nutro Products Inc., Unicharm PetCare Corp., Total Alimentos S.A., Nutriara Alimentos Ltd., Party Animal Inc., Rollover Pet Food Ltd., Burgess Group plc, Freshpet Inc., Mars Inc., Colgate-Palmolive Company, Diamond Pet Foods Inc., Blue Buffalo Company Ltd., WellPet LLC, Merrick Pet Care Inc., Ainsworth Pet Nutrition LLC, Champion Petfoods LP, Royal Canin USA Inc., Iams Company, Eukanuba Inc., Friskies PetCare Company, 9Lives, Sheba Company, Meow Mix Co
North America was the largest region in the dog and cat food market in 2023. Asia-Pacific is expected to be the fastest-growing region in the dog and cat food market report during the forecast period. The regions covered in the dog and cat food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the dog and cat food market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The dog and cat food market consists of sales of raw meat-based and home-cooked foods. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.