The Business Research Company’s report on the Animal And Pet Food Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the animal and pet food market further?
The animal and pet food market’s growth are aided by the stable economic growth forecasted in many developed and developing countries. For instance, in May 2024, according to the Organisation for Economic Co-operation and Development, a France-based intergovernmental organization, global GDP growth is projected to remain steady at 3.1% in 2024, matching the rate from 2023, with a slight increase to 3.2% anticipated in 2025. 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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What are the key factors influencing the forecasted market size of the animal and pet food industry?
The animal and pet food market size has grown strongly in recent years. It will grow from $351.54 billion in 2024 to $380.29 billion in 2025 at a compound annual growth rate (CAGR) of 8.2%. 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 $518.47 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. 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.
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Who are the leading competitors 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.
Which emerging trends are set to transform the animal and pet food market landscape?
Major pet food manufacturing companies are using automation technologies such as advanced production lines and software solutions to improve safety and operational efficiency. These technologies automate formulation, extrusion, batching, drying, coating, and liquid delivery processes. This results in cost-effective processing and consistent product quality. For example, Champion Petfoods, a Canadian producer of pet food, has video-monitored production lines, with cooking processes connected through Rockwell hardware and software systems. It also uses bulk bins and conveying systems, votator heat exchangers, and advanced extrusion and drying systems. United Pet Group’s pet food manufacturing plant in St. Louis used FactoryTalk software from Rockwell Automation to reduce overtime by 10% and increase labor efficiency by 15%.
How do different geographies compare in terms of market share and growth potential 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.
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Which major segments of the animal and pet food market are experiencing the fastest growth?
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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What defines the structure and scope of the animal and pet food market?
Animal food is a type of feed prepared from ingredients, such as grains, oilseed mill products, and meat products for domestic animals. Pet food is a type of feed prepared from ingredients, such as grains, oilseed mill products, and meat products for consumption by dogs or cats.
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