Global Animal And Pet Food Market Analysis 2024 – Estimated Market Size And Key Drivers

The Animal And Pet Food Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).

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According to The Business Research Company’s Animal And Pet Food Global Market Report 2024, The animal and pet food market size has grown strongly in recent years. It will grow from $324.85 billion in 2023 to $352.18 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to pet ownership, animal health and well-being, premium and specialty products, retail distribution, vet recommendations.

The animal and pet food market size is expected to see strong growth in the next few years. It will grow to $476.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to health-conscious pet owners, sustainability and eco-friendly products, customized and personalized diets, digital marketing and e-commerce, global market expansion. Major trends in the forecast period include grain-free and limited ingredient diets, protein-rich and meat-first formulations, natural and organic pet food, alternative protein sources, functional and nutrient-enriched products:.

The animal and pet food market’s growth is aided by the stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), global GDP growth reached 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market’s 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 developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period.

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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: Supermarkets/Hypermarkets; Convenience Stores; E-Commerce; Other Distribution Channels

Subsegments Covered: Dog And Cat Food; Other Pet Food; Poultry Feed; Cattle Feed; Aquaculture Feed; Other Animal Food

The animal and pet food market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis