Pet food refers to specially formulated food products designed to meet the dietary needs of domestic animals, primarily dogs and cats. Pet food is essential for the health and well-being of pets, providing them with the nutrients, vitamins and minerals they need for proper growth, development and maintenance.
The pet food market consists of sales, by entities (organizations, sole traders or partnerships), of pet food products that refer to commercially prepared products that are specifically formulated to meet the dietary needs of domesticated animals. It encompasses a wide variety of food types designed for different species of pets.
The global pet food market was valued at $51,721.51 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 5.00%.
Influence Of Celebrity Endorsements And Social Media Trends
Influence of celebrity endorsements and social media trends supported the growth of the pet food market during this historic period. Celebrity endorsements enhance the credibility and visibility of pet food brands, encouraging consumers to try products recommended by their favorite public figures. This aspirational appeal increases interest and brand loyalty, particularly as social media significantly influences purchasing decisions. Additionally, brands engage directly with pet owners through interactive content and influencer partnerships, fostering community through trends and user-generated reviews. The viral potential of social media enables brands to rapidly expand their reach, driving awareness and sales while effectively leveraging these channels for market growth. For instance, according to the Influencer Marketing Benchmark Report published by Influencer Marketing Hub, a Danish private media company producing reports in the social media and influencer marketing industries, the global number of influencer marketing-related service offerings grew by 26% in 2021, reaching a staggering 18,900 firms offering or specializing in influencer marketing services. In 2022, more than 75% of brand marketers intended to dedicate a budget to influencer marketing. Influencer marketing grew into a $16.4 billion industry in 2022. Therefore, the influence of social media platforms drove the growth of the pet food market.
Vet-Formulated Meals Designed To Support Immunity And Digestion In Companion Animals
Leading companies are increasingly offering vet-formulated meals aimed at enhancing immunity and digestion in companion animals. Developed by veterinary nutritionists, these meals use high-quality ingredients enriched with essential nutrients such as antioxidants, prebiotics and probiotics to support immune function and gut health. They also feature targeted proteins and easily digestible carbohydrates for pets with sensitive stomachs. This trend addresses the demand for specialized diets, providing scientifically-backed nutritional solutions that improve pets' overall well-being and quality of life. For example, in April 2023, CULT Food Science Corp., a Canada-based food technology company specializing in cellular agriculture technologies and products, launched the Noochies! brand, packaging and website. Products from Noochies! provide the first freeze-dried, high-protein, cultured pet feeds available worldwide. The distinctive, nutrient-rich components included in the vet-formulated meals are intended to improve dogs' and cats' immunity, digestion and general health.
The global pet food market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 81.82% of the total market in 2023.
Pet Food Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global pet food market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for pet food? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The pet 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 history and forecasts market growth by geography. It places the market within the context of the wider pet food market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by ingredients and by distribution channel.
- Product Analysis The product analysis section of the report describes the leading products in the pet food market, along with key features and differentiators for those products.
- Supply Chain The supply chain section of the report defines and explains the key players in the pet food industry supply chain.
- Customer Information The chapter covers recent customer trends/preferences in the global pet food market.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the pet food market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by ingredients and by distribution channel in the market. Historic (2018-2023) and forecast (2022-2027) and (2027-2032) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for pet food providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Dog And Cat Food; Other Pet Food
- 2) By Ingredients: Animal Derivatives; Plant Derivatives; Synthetic
- 3) By Distribution Channel: Specialized Pet Shops; Internet Sales; Hypermarkets; Other Distribution Channels
- Companies Mentioned: Nestle Purina Pet Care (Nestle SA); Mars Petcare Inc.; Hill's Pet Nutrition Inc.; General Mills Pet; The J.M. Smucker Company
- Countries: China; Australia; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam, Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Brazil; Mexico; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Chile; Argentina; Colombia; Peru; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; pet food indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.