Pet Food - Worldwide

Worldwide

Revenue in the Pet Food market amounts to €138.70bn in 2024. The market is expected to grow annually by 5.08% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€54,820m in 2024).
In relation to total population figures, per person revenues of €17.84 are generated in 2024.
In the Pet Food market, volume is expected to amount to 60.80bn kg by 2029. The Pet Food market is expected to show a volume growth of 2.5% in 2025.
The average volume per person in the Pet Food market is expected to amount to 6.8kg in 2024.

Key regions: Russia, Spain, Philippines, United Kingdom, India

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Comparación de regiones

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Analyst Opinion

The Pet Food Market within The Food market Worldwide is seeing minimal growth due to factors such as changing consumer preferences and rising competition. Despite this, the market is expected to continue growing as pets become an increasingly integral part of households.

Customer preferences: As pet ownership continues to rise globally, consumers are becoming increasingly conscious of their pets' nutritional needs. This has led to a growing demand for personalized and tailored pet food options, influenced by factors such as cultural beliefs and dietary preferences. As a result, pet food companies are incorporating innovative ingredients and formulations to cater to these diverse consumer preferences. Additionally, the trend towards humanization of pets has also led to a rise in demand for natural and organic pet food products, reflecting the growing focus on health and wellness in the pet food market.

Trends in the market: In the Pet Food Market within The Food market, there is a growing trend towards natural and organic pet food products, as consumers become more conscious about their pet's health and well-being. This trend is expected to continue, with pet owners increasingly seeking transparency in the sourcing and production of their pet's food. In addition, there is a rise in customized pet food options, driven by the demand for personalized nutrition plans for pets with specific health conditions. These trends present opportunities for pet food companies to differentiate themselves in the market and cater to the evolving needs of pet owners.

Local special circumstances: In China, the Pet Food Market is heavily influenced by the country's growing pet ownership and a strong cultural preference for small companion animals. With a rising middle class and urbanization, there has been an increase in demand for premium and specialized pet food products. Additionally, strict regulations on pet food imports have led to the emergence of local brands catering to the unique dietary preferences and regulations in China.

Underlying macroeconomic factors: The growth of the Pet Food market is also influenced by macroeconomic factors such as consumer purchasing power, economic stability, and government regulations. Countries with strong economic growth and rising pet ownership rates are experiencing higher demand for premium pet food products. Moreover, increasing pet humanization and health consciousness among owners are driving the demand for healthier and natural pet food options. Additionally, the rising popularity of e-commerce and online retail channels is providing opportunities for market expansion and growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.