What Has Been the Growth of the Animal And Pet Food Market So Far?
The animal and pet food market has seen considerable growth due to a variety of factors.
• Recent years have seen a substantial growth in the animal and pet food market size. The market, valued at $351.54 billion in 2024, is set to witness an increase to $380.29 billion in 2025, growing at a compound annual growth rate (CAGR) of 8.2%.
The previously observed growth in this market is linked to factors such as increasing pet ownership, attention to animal health and well-being, the rise in premium and specialty products, retail dissemination, and veterinary recommendations.
How Will the Animal And Pet Food Market?
The animal and pet food market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for animal and pet food is anticipated to experience robust growth, reaching $518.47 billion by 2029 with an 8.1% compound annual growth rate (CAGR). This anticipated growth within the forecast period is largely due to factors such as the rise of health-conscious pet owners, an increase in sustainable and environmentally friendly products, the shift towards personalized pet diets, the growth of digital marketing and e-commerce, and a broadened global market. Key trends likely to be seen over this forecast period include diets that are grain-free and contain limited ingredients, formulations rich in protein and primarily comprising meat, increased availability of natural and organic pet food, the use of alternative protein sources, and a rise in functional, nutrient-enriched products.
What Key Factors and Trends Are Driving The Growth Animal And Pet Food Market?
The steady economic growth anticipated in a number of developed and developing nations is contributing to the expansion of the animal and pet food market. For example, the Organisation for Economic Co-operation and Development, a France-based intergovernmental entity, predicted in May 2024 that global GDP growth would maintain a consistent rate of 3.1% in 2024, mirroring the rate from 2023, with a slight uptick to 3.2% expected in 2025. The rebound in commodity prices, following a sizeable decrease in the historical era, is projected to further bolster the market's expansion. Developed economies are anticipated to exhibit stable growth throughout the projected period as well. Furthermore, in the forecast period, emerging markets are anticipated to slightly outpace developed markets in terms of growth. The stable economic expansion is projected to bolster investments in end-user markets, consequently propelling the market in the forecast period.
What Key Areas Define The Segmentation Of The Global Animal And Pet Food Market?
The animal and pet food market covered in this report is segmented –
1) By Type: Pet Food, Animal Food
2) By Ingredients: Animal Derivatives, Plant Derivatives, Synthetic
3) By Distribution Channel: Super markets/Hyper markets, Convenience Stores, E-Commerce, Other Distribution Channels
Subsegments:
1) By Pet Food: Dog Food, Cat Food, Fish Food, Bird Food, Small Mammal Food
2) By Animal Food: Livestock Feed (Cattle, Poultry, Swine), Equine Feed, Aquaculture Feed, Specialty Animal Feed (Zoo Animals, Wild Animals)
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How Are Emerging Trends Reshaping The Dynamics Of The Animal And Pet Food Market?
Leading companies in the pet food production industry are leveraging automation technologies like sophisticated production lines and software solutions to enhance safety measures and streamline operations. The implementation of these technologies automates various stages such as formulation, extrusion, batching, drying, coating, and liquid delivery, leading to cost-effective procedures and a uniform quality of products. For instance, Champion Petfoods, a Canadian-based pet food manufacturer, employs video surveillance in their production lines and has intertwined cooking processes with Rockwell hardware and software systems. The company incorporates bulk bins and conveying systems, votator heat exchangers, as well as state-of-the-art extrusion and drying systems. Likewise, the United Pet Group’s pet food production facility in St. Louis utilized Rockwell Automation's FactoryTalk software, resulting in an overtime reduction of 10% and a 15% boost in labor productivity.
Who Are the Key Players In The Animal And Pet Food Market?
Major companies operating in the animal and pet food market include:
• Cargill Incorporated
• Nestle S.A.
• New Hope Liuhe Co.Ltd.
• Charoen Pokphand Foods PCL
• Bunge Limited
• Diamond Pet Foods Inc.
• Mitsui & Co.Ltd.
• CJ Cheiljedang Corp
• LandO'Lakes Inc.
• J.M.Smucker Company
• Hill's Pet Nutrition Inc.
• Blue Buffalo Co Ltd.
• SCHELL & KAMPETER INC.
• Wellness Pet LLC
• Sunshine Mills Inc.
• Merrick Pet Care
• Ainsworth Pet Nutrition
• LLC
• Simmons Foods Inc.
• Tuffy’s Pet Foods Inc.
• Natures Menu Ltd.
• American Nutrition Inc.
• Alphia
• ADM Animal Nutrition Inc.
• NutriSource Pet Foods
• Mid America Pet Food
• KENT Corporation
• KLN Family Brands
• Nurture Farms
• United Pet Group Inc.
• Eagle Mountain Pet Food
• VICTOR premium pet food
• Royal Canin SAS
• Iams pet food
• Eukanuba.
What Is The Most Dominant Region In The Animal And Pet Food Market?
Asia-Pacific was the largest region in the animal and pet food market in 2023. Western Europe was the second-largest in the animal and pet food market. The regions covered in the animal and pet food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
