Pet Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
Pet Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The global pet food market size reached US$ 118.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 161.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.35% during 2023-2028.
Over the years, the growing number of pet-owners has resulted in an extensive demand for pet food. Research and studies conducted by the manufacturers have also increased their knowledge of pet nutrition. In-line with this, they are now offering products which ensure palatability and meet the nutritional requirements of pets. Moreover, several pet food associations and federations have introduced strict legislation for the manufacturers to produce safe and high-quality pet food.
Global Pet Food Market Drivers:
As pet food helps in combating skin allergies and infections as well as improving the overall health and life expectancy of pets, the owners are increasingly looking for pet food products that address these health concerns. Manufacturers are also introducing products specific to the breed, age and size of pets in smaller, disposable, single-serve containers in order to offer convenience to both the pets and owners. Apart from this, pet food companies are developing organic variants which are made using ingredients that are grown without the use of pesticides, synthetic fertilizers, hormones or antibiotics. This has increased consumer’s interest in natural formulations, thereby increasing the potential of the companies to further diversify their offerings.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global pet food market report, along with forecasts at the global and regional level from 2023-2028. Our 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
On the basis of pet type, the market is segmented into dog food, cat food and others. Currently, dog food dominates the market due to increasing dog ownership coupled with the rising pet humanization trend across the globe.
Breakup by Product Type:
Dry Pet Food
Wet and Canned Pet Food
Snacks and Treats
Based on product type, dry pet food represents the most popular product type as it is more affordable and has a long-standing market presence.
Breakup by Pricing Type:
Mass Products
Premium Products
The market is also categorized on the basis of pricing into mass products and premium products. Amongst these, mass products account for the majority of the global sales.
Breakup by Ingredient Type:
Animal Derived
Plant Derived
On the basis of ingredient type, the report finds that animal derived pet food is the leading segment.
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Specialty Stores
Online Stores
Others
Based on distribution channel, supermarkets and hypermarkets currently hold the largest share as they offer convenience to the consumers.
Regional Insights:
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
Region-wise, North America enjoys the leading position in the global pet food market on account of the growing pet adoption rate in the region. Other major regions include Asia-Pacific, Europe, Latin America, and Middle East and Africa.
Competitive Landscape:
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 (Nestlé SA)
Hill's Pet Nutrition
The J.M. Smucker Company
This report provides a deep insight into the global pet food industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a pet food manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the pet food industry in any manner.
Key Questions Answered in This Report:
What was the size of the global pet food market in 2022?
What is the expected growth rate of the global pet food market during 2023-2028?
What are the key factors driving the global pet food market?
What has been the impact of COVID-19 on the global pet food market?
What is the breakup of the global pet food market based on the pet type?
What is the breakup of the global pet food market based on the product type?
What is the breakup of the global pet food market based on pricing type?
What is the breakup of the global pet food market based on the ingredient type?
What is the breakup of the global pet food market based on the distribution channel?
What are the key regions in the global pet food market?
Who are the key players/companies in the global pet food market?
Table of Contents
142 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Pet Food Industry
- 5.1 Market Overview
- 5.2 Market Performance
- 5.2.1 Volume Trends
- 5.2.2 Value Trends
- 5.3 Impact of COVID-19
- 5.4 Price Analysis
- 5.4.1 Key Price Indicators
- 5.4.2 Price Structure
- 5.4.3 Price Trends
- 5.5 Market Breakup by Region
- 5.6 Market Breakup by Pet Type
- 5.7 Market Breakup by Product Type
- 5.8 Market Breakup by Pricing Type
- 5.9 Market Breakup by Ingredient Type
- 5.10 Market Breakup by Distribution Channel
- 5.11 Market Forecast
- 5.12 Trade Data
- 5.12.1 Imports
- 5.12.2 Exports
- 5.13 SWOT Analysis
- 5.13.1 Overview
- 5.13.2 Strengths
- 5.13.3 Weaknesses
- 5.13.4 Opportunities
- 5.13.5 Threats
- 5.14 Value Chain Analysis
- 5.14.1 Raw Material Suppliers
- 5.14.2 Manufacturers
- 5.14.3 Distributors
- 5.14.4 Exporters
- 5.14.5 Retailers
- 5.14.6 End-Users
- 5.15 Porter’s Five Forces Analysis
- 5.15.1 Overview
- 5.15.2 Bargaining Power of Buyers
- 5.15.3 Bargaining Power of Suppliers
- 5.15.4 Degree of Competition
- 5.15.5 Threat of New Entrants
- 5.15.6 Threat of Substitutes
- 5.16 Key Market Drivers and Success Factors
- 6 Performance of Key Regions
- 6.1 North America
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Europe
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Asia-Pacific
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Latin America
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Middle East and Africa
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 7 Market by Pet Type
- 7.1 Dog Food
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Cat Food
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Others
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 8 Market by Product Type
- 8.1 Dry Pet Food
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Wet and Canned Pet Food
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Snacks and Treats
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 9 Market by Pricing Type
- 9.1 Mass Products
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Premium Products
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 10 Market by Ingredient Type
- 10.1 Animal Derived
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Plant Derived
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 11 Market by Distribution Channel
- 11.1 Supermarkets and Hypermarkets
- 11.1.1 Market Trends
- 11.1.2 Market Forecast
- 11.2 Specialty Stores
- 11.2.1 Market Trends
- 11.2.2 Market Forecast
- 11.3 Online Stores
- 11.3.1 Market Trends
- 11.3.2 Market Forecast
- 11.4 Others
- 11.4.1 Market Trends
- 11.4.2 Market Forecast
- 12 Competitive Landscape
- 12.1 Market Structure
- 12.2 Market Breakup by Key Players
- 13 Pet Food Manufacturing Process
- 13.1 Product Overview
- 13.2 Detailed Process Flow
- 13.3 Various Types of Unit Operations Involved
- 13.4 Mass Balance and Raw Material Requirements
- 14 Project Details, Requirements and Costs Involved
- 14.1 Land Requirements and Expenditures
- 14.2 Construction Requirements and Expenditures
- 14.3 Plant Machinery
- 14.4 Raw Material Requirements and Expenditures
- 14.5 Packaging Requirements and Expenditures
- 14.6 Transportation Requirements and Expenditures
- 14.7 Utility Requirements and Expenditures
- 14.8 Manpower Requirements and Expenditures
- 14.9 Other Capital Investments
- 15 Loans and Financial Assistance
- 16 Project Economics
- 16.1 Capital Cost of the Project
- 16.2 Techno-Economic Parameters
- 16.3 Product Pricing and Margins Across Various Levels of the Supply Chain
- 16.4 Taxation and Depreciation
- 16.5 Income Projections
- 16.6 Expenditure Projections
- 16.7 Financial Analysis
- 16.8 Profit Analysis
- 17 Key Player Profiles
- 17.1 Mars Petcare Inc.
- 17.2 Nestlé Purina Pet Care (Nestlé SA)
- 17.3 Hill's Pet Nutrition
- 17.4 The J.M. Smucker Company
Pricing
Currency Rates
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