Pet Food Market Size to Attain USD 167.97 Billion by 2034, says Food and Beverages Experts

According to Towards FnB, the global pet food market size has been calculated at USD 113.02 billion in 2025 and is expected to reach approximately USD 167.97 billion by 2034, growing at a CAGR of 4.50% over the expected duration from 2025 to 2034.

/EIN News/ -- Ottawa, April 11, 2025 (GLOBE NEWSWIRE) -- The pet food market size was projected at USD 108.16 billion in 2024 and is expected to reach USD 167.97 billion by 2034, growing at a CAGR of 4.50% over the expected duration from 2025 to 2034, a study published by Towards FnB a sister firm of Precedence Research.

The growth of the pet food market is driven by a rise in global pet ownership, an increase in consumer awareness regarding pet health, and the trend of treating pets more like family. There is a growing demand for high-quality, organic, and functional pet foods as owners aim to provide their pets with better nutrition. Additionally, e-commerce growth and innovations in product formulations are driving further growth in the market.

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Rising Awareness for Pets’ Well Being: Pet Food Market to Boom Rapidly

The pet food market is witnessing consistent global growth, largely driven by a rise in pet ownership and the increasing tendency to consider pets as family members. Consumers are placing greater emphasis on their pets’ health and well-being, resulting in a heightened demand for nutritious, high-quality, and specialized food options. This encompasses grain-free, organic, and functional pet foods designed to meet specific health requirements, such as digestion support, joint care, or weight management. Manufacturers are innovating with premium ingredients, diverse flavors, and customized diets while concentrating on sustainability in both packaging and ingredient sourcing.

“Approximately 40% of U.S. pet owners purchased premium pet food in 2022.”

Furthermore, the growth of e-commerce and direct-to-consumer sales has rendered pet food more available than ever. Pet owners now expect clarity in labeling and traceability of ingredients, pressing brands to improve quality standards. With continuous developments in product formulations and increasing awareness surrounding animal nutrition, the pet food industry is poised to keep gaining momentum in both developed and emerging markets.

Market Key Highlights:

• By region, North America led the market with the largest share of 43% in 2024.
• By region, Europe expects significant growth in the market during the forecast period.
• By pet type, dog pet segment captured the maximum market share of 43% in 2024.
• By pet type, cat segment is expected to grow at the fastest rate in the market during the forecast period.

Major Key Trends in Pet Food Market:

• Sustainability and Ethical Sourcing: Pet owners are placing greater importance on eco-friendly and ethically sourced ingredients in their pet food choices. This evolving perspective encourages manufacturers to engage in sustainable practices by considering alternative proteins, such as plant-based or lab-grown meats, to minimize environmental impact.
  
• Personalized Nutrition and Functional Ingredients: There is a rising need for pet foods customized to meet individual health requirements, utilizing functional ingredients that promote specific wellness objectives such as joint health, digestion, or weight management. This trend parallels movements in human health and wellness.
  
• Transparency and Clean Labeling: Consumers are looking for straightforward, comprehensible labeling and transparency about ingredient sourcing and manufacturing processes. This demand compels brands to offer detailed information, ensuring that products align with pet owners’ expectations regarding quality and safety.
  

Limitations & Challenges in Pet Food Market:

• Rising Raw Material Costs: Variations in the prices of ingredients such as meat, grains, and specialty additives elevate production expenses, putting pressure on manufacturers to find a balance between affordability and quality in a highly competitive landscape.
  
• Stringent Regulatory Standards: Meeting the diverse international food safety and labeling regulations is intricate and expensive, particularly for exporters. This can delay product launches and restrict market access for smaller to medium-sized manufacturers.
  
• Pet Allergies and Dietary Sensitivities: The increasing prevalence of pet allergies and food intolerances necessitates very specific formulations. This reduces mass-market appeal and complicates the development of specialized or hypoallergenic pet food products, increasing associated costs.
  

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Development of Pet Food Platform: Market’s Largest Potential

The greatest opportunity within the pet food market lies in the growing interest in personalized and functional pet nutrition. As pet owners continue to regard their pets as family, there is an escalating interest in diets customized for specific breeds, ages, lifestyles, and health concerns. This trend creates opportunities for personalized meal plans, supplements, and specialized foods aimed at addressing issues such as obesity, digestive health, and joint support.

Additionally, emerging markets are experiencing rapid growth in pet ownership, presenting significant opportunities for premium product offerings and organic food. Brands that leverage technology, data, and veterinary knowledge to provide tailored nutrition can achieve significant value and set themselves apart in a competitive marketplace.

Pet Food Market Regional Analysis

What to Expect from North American Countries till 2034?

North America dominated the pet food market with the largest market share, primarily due to high rates of pet ownership, significant consumer expenditures, and a well-established culture of treating pets as family members. Consumers in this region are increasingly inclined to spend on premium, organic, and specialized pet foods that address their pets' individual health requirements and preferences.

Top North American Countries for Pet Food Production

• United States: The U.S. tops the pet food market due to its high levels of pet ownership, robust consumer awareness, and the extensive availability of premium and specialized pet food options in both physical stores and online.
• Canada: Canada’s pet food market is on the rise, driven by increasing interest in natural and organic products, an emphasis on pet health, and the growing use of e-commerce for convenient pet food shopping.

The support for this market leadership comes from established distribution networks, the availability of products through traditional retail and online platforms, and the presence of prominent pet food companies. Additionally, ongoing advancements in product development, clean-label movements, and heightened awareness of pet nutrition play a vital role in maintaining the region's strong position in the global pet food market.

Europe to Boom Rapidly: Innovation in the Market to Support the Growth

Europe is the fastest growing market for the pet food market with a significant CAGR during the forecast period, propelled by increasing rates of pet adoption, particularly among younger individuals and urban residents seeking companionship. The region is witnessing a transition towards premium, organic, and functional pet food products, mirroring the increasing trend of pet humanization. Consumers are more inclined to invest in nutrition-oriented and veterinary-endorsed diets, enhancing the demand for customized food formulations.

Major Factors for the Market’s Expansion in Europe:

• European consumers are increasingly viewing pets as members of the family, driving the demand for high-quality, customized pet food that emphasizes health, wellness, and overall nutrition throughout different life stages.
• Eco-conscious consumers in Europe are favoring pet food brands that incorporate recyclable packaging, ethically sourced ingredients, and sustainable production techniques, spurring innovation and market growth in the region.
• The rapid increase in online shopping and the popularity of private-label brands are providing consumers with enhanced convenience and competitive pricing, significantly contributing to the growth of the pet food market in the region.
  

Sustainability is also a critical factor, with preferences shifting towards eco-friendly packaging and responsibly sourced ingredients. Moreover, improvements in distribution methods, especially through e-commerce, and stringent regulatory standards for pet food quality are facilitating Europe’s swift expansion in the global market.

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Pet Food Market Report Scope

Report Attribute	Key Statistics
Base Year	2024
Forecast Period	2025 to 2034
CAGR	4.50%
Market Size in 2024	USD 108.16 Billion
Market Size in 2025	USD 113.02 Billion
Market Size by 2034	USD 167.97 Billion
Dominated Region	North America

Pet Food Market Segment Insights

Pet Type Insights

The dog segment dominated the market with the largest market share in 2024, influenced by high ownership rates and a strong consumer focus on canine health and nutrition. Dog owners are more likely to spend on premium products like grain-free, high-protein, and breed-specific formulations. The rising popularity of large and medium dog breeds further amplifies the demand for bulk purchases and specialized dietary supplements. Innovations such as dental care treats, weight control formulations, and life-stage nutrition have diversified the offerings in this segment. Additionally, the strong emotional connections and increasing awareness of canine health are encouraging owners to allocate more funds towards high-quality, veterinarian-recommended food products.

The cat segment is the fastest growing segment with a notable CAGR during the forecast period, fueled by the growing trend of cats being favored as low-maintenance pets in urban areas and limited living spaces. An increase in cat ownership, particularly among single professionals and older adults, is driving the need for specialized products aimed at feline health. Companies are creating formulas that address common issues faced by cats, such as hairball management, urinary care, and sensitive digestion. The rise in the adoption of indoor cats is prompting pet parents to focus on high-nutrition, premium diets that promote long-term health. The growth of this segment is also being propelled by e-commerce platforms and personalized subscription services, which provide convenience and a wide range of options.

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Pet Food Market Leading Companies

• Nestlé Purina PetCare
• Mars Petcare Inc.
• Hill's Pet Nutrition
• General Mills
• Diamond Pet Foods
• J.M. Smucker
• United Petfood
• Simmons Pet Food
• Spectrum Brands / United Pet Group
• Unicharm Corp

Recent Breakthroughs in Global Pet Food Market:

• In October 2023, Scientific Remedies, a prominent animal health company, revealed its partnership with Affinity Petcare, a notable pet food brand from Spain, to introduce their new brand, Affinity Advance, in the Indian market.
• In July 2023, Hill's Pet Nutrition launched its latest MSC (Marine Stewardship Council) certified products featuring pollock and insect protein for pets with sensitive stomachs and skin issues. These products are formulated with vitamins, omega-3 fatty acids, and antioxidants.

Segments Covered in the Report

By Pet Type

• Dog
  
  • Wet Food
  • Dry Food
  • Snacks/Treats
• Cat
  
  • Wet Food
  • Dry Food
  • Snacks/Treats
  • Others
    

By Region

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
  

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