Global Animal And Pet Food Market By Type ( Pet Food, Animal Food ), By Application( Hypermarkets/Supermarkets, Convenience Stores, Others ), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2033

The global Animal And Pet Food Market were worth USD 94.76 billion in 2023. It is projected to grow to USD 145.7 billion in 2033, at a 4.4% CAGR from 2023 to 2033. Pet food has seen a lot of demand over the years due to the increasing number of pet owners. Manufacturers have increased their knowledge about pet nutrition through research and studies. They now offer products that meet the nutritional needs of pets and ensure their palatability. Many pet food federations and associations have established strict regulations to ensure safe and high-quality pet food.

Animal And Pet Food Market Scope:

By Type, the market is segmented into Pet Food, and Animal Food. By Application, the market is divided into Hypermarkets/Supermarkets, Convenience Stores, and Others.

Based on geography market is analyzed across North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. Major players profiled in the report include Nestle Purina, Mars Petcare, Big Heart Pet Brands, Blue Buffalo, and Hill’s Pet Nutrition.

Growing Demand:

The Animal And Pet Food Market is expected to grow due to increased demand for dog food and higher traction in premium pet food segments over the forecast period. Dry food is seeing a rapid increase in demand compared to other products. This is due to its ease of storage and ability to feed pets without making a mess. This is encouraging urban consumers to choose dry pet food.

Canned food is easier to digest for dogs and cats, as it contains protein, fats, and a few carbs. Canned and wet pet food is easy to digest, which reduces backyard cleaning. Wet food is easier to digest and more suitable for pets with certain dietary needs, such as cats and dogs who have been diagnosed.

Product demand is expected to rise due to the rising popularity of dog adoption as a companion animal for families. Dogs are seeing an increase in the humanization of their pets. This has led to a rise in dog owners and premium food. Rapid urbanization is another key factor driving the market.

Key Market Segments

Type

Pet Food
Animal Food

Application

Hypermarkets/Supermarkets
Convenience Stores
Others

Key Market Players included in the report:

Nestle Purina
Mars Petcare
Big Heart Pet Brands
Blue Buffalo
Hill’S Pet Nutirion

Drivers:

Change from mass-produced pet food products to organic pet food ingredients
This highlights the fact that pet owners are shifting to organic and premium products. There is also a growing demand among pet owners in the US for natural, locally-sourced treats and chews. This has led to an increase in sales of organic pet food ingredients. Pet owners are also more likely to want clean, organic, and protein-rich food products due to an increase in pet obesity.

Restraints:

Price sensitivity and limited availability

Pet food ingredient prices have risen due to rising raw material prices and an increase in production costs. BASF, for example, increased the prices of its feed-grade vitamins E & B by 15% and 10% respectively in 2013, and by 20% in 2016 for vitamin A. Vitamins, as well as many other pet food ingredients, are subject to the challenge of limited raw materials. This results in an increase in price. The high cost of pet food ingredients is a major limitation to their growth. The scarcity of raw materials is a major limiting factor in the pet food ingredient market. Plant sources are also used to make pet food ingredients. The supply of raw materials is also affected by climate change, which in turn increases their costs.

Key Market Trends:

Pet Humanization is a rising trend

Pet humanization has been a hot topic in mainstream media worldwide in recent years. In developed countries, the shift from pet ownership towards pet parenting is a key trend in the pet food industry. One-third of households in developed countries have a pet. According to the American Pet Products Association’s (APPA) National Pet Owners Survey (2019-20), more than 85 million US households had at least one pet, with the majority being dogs. The pet food industry is expected to grow because of increased pet humanization.

Pets are now considered part of the family as part of pet humanization. Consumers are willing to spend more money on pet food because of the growing bond between pet owners, their pets, and their pets. Consumers are becoming more aware of the health of their pets and purchasing pet food that is high in nutritional value to ensure their pets’ well-being. Pet owners don’t just want to buy basic food products, but pet owners also want pet consumables that can be made locally and have health benefits.

Pet humanization has also led to a rise in health consciousness, which has resulted in a greater demand for pet food that is free of sugar, grains, dye, or other chemical additives. The Animal And Pet Food Market is expected to continue growing with the new trends of premiumization and pet humanization.

Recent Developments:

March 2021: Mars, Inc, an American pet food manufacturer, has invested USD 200 million in a new Royal Canin plant in Lebanon. To double its production capacity, the company will create five new corporate lines.

December 2020: Nestle Purina Petcare announced that it will invest USD 550 million to expand its Georgia pet food manufacturing plant.