Pet Food Industry

The global pet food market size was estimated at USD 103.3 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2030. The increasing consumer preference for pet adoption, along with heightened awareness and concern about pet health and wellness, is anticipated to be a significant driver of product demand over the forecast period.

The improved digestive health and overall performance of pet animals that result from the consumption of balanced and nutritious pet food is further expected to contribute positively to the market's growth trajectory. While the core pet food products available in the global market generally exhibit limited variation, this homogeneity has encouraged manufacturers to innovate by incorporating multifunctional and unique ingredients to differentiate their offerings and appeal to a broader range of pet owners. Additionally, the aspect of convenience is expected to play a key role in shaping the industry’s direction, especially with the increasing consumer shift toward ready-made or prepared pet food options. A growing segment within this market is organic pet food, which has recently gained popularity and is emerging as a notable trend.

The rising availability of organic pet food products in multiple flavors, coupled with the inclusion of essential ingredients such as probiotics, antioxidants, and vitamins, is anticipated to enhance consumer interest and induce favorable market growth. These ingredients are associated with benefits such as improved gut health, stronger immunity, and overall well-being of pets. However, the growth of the organic segment may face constraints due to its relatively higher price point, which limits accessibility for some households. As a result, lower product penetration in certain income groups may restrain widespread adoption, despite the increasing demand for healthier pet food alternatives.

The value chain of the pet food market consists of several key stakeholders, including raw material suppliers, manufacturers, distributors, and end-users. The raw materials used in the production of pet food comprise meat and meat byproducts, cereals, grains, and specialty animal-derived proteins, as well as palatants, sweeteners, flavor enhancers, vitamins, minerals, and enzymes. These ingredients are selected and processed to meet the established nutritional standards required for domesticated animals across different species and life stages.

Manufacturers adhere to specific formulation protocols to ensure that the pet food meets nutritional guidelines. The meat-based raw materials undergo a rendering process, which separates the protein, fat, and water components, resulting in high-quality animal protein sources. The overall manufacturing process involves steps such as grinding the raw materials into uniform sizes, cooking them under controlled temperatures, and blending them with additional ingredients to produce final products that are both nutritionally complete and palatable to pets. This entire process ensures consistency, safety, and the delivery of essential nutrients in every batch of pet food produced.

Curious about the Pet Food Market, Download your FREE sample copy now and get a sneak peek into the latest insights and trends.

1. What is the current size of the global pet food market?

As of 2023, the global pet food market size was estimated at USD 103.3 billion. This valuation highlights the substantial consumer base for pet products, driven by a growing emphasis on pet health, wellness, and nutrition.

2. What is the expected growth rate of the global pet food market?

The pet food market is projected to grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2030. This steady growth reflects continued increases in pet ownership, rising disposable incomes, and growing awareness of the importance of pet nutrition.

3. What factors are driving growth in the pet food market?

Key drivers include:

• Increasing adoption of pets as companions, especially in urban households.
• Growing concern for pet health, leading owners to seek more nutritious and functional food options.
• Improvements in pet digestion and performance linked to high-quality, nutrient-dense diets.
• Rising demand for convenient, ready-to-eat pet food formats.
• Growing popularity of organic and natural pet food products featuring antioxidants, probiotics, and essential vitamins.

4. What is the role of organic pet food in the market?

Organic pet food represents a growing trend in the industry. Consumers are seeking healthier, cleaner alternatives free from synthetic additives and fillers. The inclusion of beneficial ingredients like probiotics, antioxidants, and natural proteins has further enhanced the appeal of organic products. However, high prices continue to limit accessibility, which may slow the expansion of this segment among price-sensitive consumers.

5. What are the challenges faced by the organic pet food segment?

The main challenge is low penetration due to higher pricing, which can deter average-income households. Additionally, consistent sourcing of certified organic raw materials and maintaining quality across batches can be challenging for producers, potentially impacting scalability.

6. How is the pet food market structured?

The pet food market operates along a comprehensive value chain consisting of:

• Raw material suppliers (meat, grains, additives)
• Manufacturers who process and blend ingredients
• Distributors and retailers who manage product availability across offline and online channels
• End-users (pet owners) who increasingly make informed choices based on health claims and convenience

Order a free sample PDF of the Pet Food Market Intelligence Study, published by Grand View Research.