Market Overview

The global pet food market size was valued at USD 126.66 billion in 2024. The market is projected to grow from USD 132.92 billion in 2025 to USD 193.65 billion by 2032, exhibiting a CAGR of 5.52% during the forecast period.

Fortune Business Insights™ has deep-dived into these insights in its latest research report, titled, “Pet Food Market, 2025-2032.”

Major Players Profiled in the Market Report:

  • Mars Incorporated (Virginia, U.S.)
  • Nestle S.A. (Vevey, Switzerland)
  • The J.M. Smucker Company (Ohio, U.S.)
  • Colgate-Palmolive Company (New York, U.S.)
  • General Mills, Inc. (Minnesota, U.S.)
  • Diamond Pet Foods (Missouri, U.S.)
  • Heristo AG (Osnabruck, Germany)
  • Tiernahrung Deuerer GmbH (Bretten, Germany)
  • Merrick Pet Care, Inc. (Texas, U.S.)
  • WellPet LLC (Massachusetts, U.S.)

Report Coverage

The report has been prepared painstakingly through quantitative and qualitative assessments to offer a comprehensive view of the market. Notably, a host of primary interviews has been conducted with major stakeholders and suppliers. Primary data has been collated through questionnaires, telephonic conversations and emails. Moreover, the report also includes secondary sources, such as government websites, SEC filings and press releases.

Segmentation

In terms of animal type, the market is segmented into cats, dogs and others.

Based on form, the industry is segregated into snacks & treats, wet pet food and dry pet food.

On the basis of source, the market is fragmented into plant and animal.

With respect to distribution channel, the industry is segmented into specialty pet food stores, supermarkets/hypermarkets, online channels and others.

In terms of geography, the market includes North America, Asia Pacific, Europe, Middle East & Africa and South America.

Drivers and Restraints

Buoyant Demand for Pet Humanization and Premium Food Products to Foster Growth

Stakeholders envisage pet food market share to witness a notable gain during the forecast period, largely due to the demand for pet ownership. Leading companies are likely to explore opportunities across developing and advanced economies. Easy availability of products, as well as the surging per capita income, will play a monumental role in bolstering product adoption. Not to mention, the rollout of premium food products could act as a catalyst globally. To illustrate, in November 2020, Nestle Purina introduced pet food that builds on alternative proteins to make better use of the planet’s resources. Investments in advanced product offerings could be noticeable in the ensuing period, auguring well for the business outlook.

However, rigorous regulations could limit product commercialization, along with lower acceptance of premium pet food will continue to hinder the industry growth.

Regional Insights

North America to Remain at Helm with Pet Adoption Spree in the U.S.

Stakeholders envisage the U.S. to provide promising growth opportunities against the backdrop of soaring pet adoption. According to the American Pet Products Association (APPA), around 85 million U.S. households, which account for approximately 67% of the total households present in the U.S., own a pet. North America will continue to exhibit traction for pet food services and could be a favorable investment hub in the next few years.

Asia Pacific pet food market growth will observe an upward trajectory on the back of a surge in expenditure on pet animals. Advanced economies, such as Australia and Japan, could gain impetus, with India poised to appear as a lucrative region. Stakeholders expect leading companies to explore opportunities across untapped areas in the ensuing period.

Major players anticipate Europe industry forecast to be strong on the heels of the growing pet humanization trend across the U.K., France, Germany and Italy. Mars Petcare State of the Pet Nation states that 72 percent of the U.K pet owners regard themselves as pet parents. Moreover, premium and organic food products have also gained prominence, auguring well for regional growth.

Competitive Landscape

Prominent Companies Emphasize Product Portfolio Expansion to Gain Ground

Industry players are expected to inject funds into technological advancements, product rollouts, partnerships and mergers & acquisitions. Leading companies could focus on research and development activities to gain a strategic hold.

Key Industry Development

  • October 2023: Scientific Remedies, one of the well-known animal health companies, announced its collaboration with Affinity Petcare, one of the known pet food companies based in Spain, with the launch of its all-new brand, Affinity Advance in India.

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