Pet Food Market Report 2023-2028 | Size US$ 161.6 Billion, Growth rate (CAGR) of 5.35%, Forecast
IMARC Group, a leading market research company, has recently releases report titled “Pet Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global pet food market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Pet Food Market?
Report Attributes | Details |
Market Size in 2022 | US$ 118.9 Billion |
Market Forecast in 2028 | US$ 161.6 Billion |
Growth rate (2023 to 2028) | CAGR of 5.35% |
Base Year of the Analysis | 2022 |
Forecast Period | 2023-2028 |
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What is Pet Food?
Pet food represents various edible products formulated for domesticated animals according to their nutritional needs. It includes vitamins, minerals, meat by-products, cereals, and seafood. Pet food is specifically manufactured and intended for consumption by pets. It is commercially prepared from animal-feed grade ingredients and agricultural and nutritional supplements, such as vegetables and feeds grain by-products. Pet food is a rich source of nutrients that aid in better digestion, strengthen immunity, improve the life expectancy of animals, etc. Presently, pet owners prefer pet food that consists of high-quality ingredients with zero added additives and substantial health benefits.
What are the Growth Prospects and Trends in the Pet Food Market?
The emerging trend of pet humanization across the globe and the introduction of premium-quality multigrain, gluten-free, and protein-based product variants are among the primary factors driving the pet food market. Besides this, the development of smaller, disposable, and single-serve containers to offer convenience to both the animals and owners is further augmenting the market growth. Moreover, the rising awareness among pet owners toward their pet health and nutritional intake and the escalating demand for organic and natural pet food that is devoid of pesticides, preservatives, and genetically modified organisms (GMOs) are also catalyzing the global market. Apart from this, the launch of several policies by government bodies to promote the use of healthy and safe ingredients that improve the overall wellness of animals is acting as another significant growth-inducing factor. Furthermore, the wide availability of raw edibles across various distribution channels and the expanding e-commerce platforms are anticipated to bolster the pet food market over the forecasted period.
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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Who are the Key Players Operating in the Pet Food Industry?
The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
- Mars Petcare Inc.
- Nestlé Purina Pet Care
- Hill's Pet Nutrition
- The J.M. Smucker Company
What is Included in Market Segmentation?
The report has categorized the market based on pet type, product type, pricing type, ingredient type and distribution channel.
Breakup by Pet Type:
- Dog Food
- Cat Food
- Others
Breakup by Product Type:
- Dry Pet Food
- Wet and Canned Pet Food
- Snacks and Treats
Breakup by Pricing Type:
- Mass Products
- Premium Products
Breakup by Ingredient Type:
- Animal Derived
- Plant Derived
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- SWOT Aalysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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