The global pet food market size is expected to grow from $76.69 billion in 2021 to $84.75 billion in 2022 at a compound annual growth rate (CAGR) of 10.5%. The pet foods market is expected to grow to $119.80 billion in 2026 at a CAGR of 9%.
What is the Global Pet Food Market?
The pet food market consists of sales of goods and services by entities (organizations, sole traders, and partnerships) associated with manufacturing cat and dog food and other animal food from ingredients such as grains, oilseed mill products, and meat products. The industry includes establishments that produce dog food, cat food, and other animal food. Other animal includes birds, mammals, and aquatic animals. This market does not include agricultural animal food.
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What drives the Global Pet Food Market?
The pet food manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), the global GDP growth reached 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the pet food market during the forecast period.
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Global Pet Food Market Segments
The global pet food market is segmented:
By Type: Dog and Cat Food, Others
By Distribution Channel: Specialized Pet Shops, Internet Sales, Hypermarkets, Others
By Ingredient: Animal Derivatives, Plant Derivatives, Synthetic
By Geography: The regions covered in the pet food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Pet Food Global Market Report 2022provides market size and growth forecasts for the global pet food market, global pet food market share, pet food market segments and geographies, pet food market competitive landscape including leading competitors’ revenues, profiles and market shares. The pet food market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Pet Food Industry Playersinclude Mars Incorporated, Nestle S.A., Diamond Pet Foods Inc., J.M. Smucker Company, Colgate-palmolive co, Hill's Pet Nutrition, General Mills, InVivo Animal Nutrition, and Health, Unicharm Corporation, and Ingredion Incorporated. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
