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Published August, 2020
Global Pet Food Market- Size, Trends, Competitive Analysis and Forecasts (2020-2025)

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The pet food industry has been experiencing explosive growth all over the world. Over the last three decades, global pet ownership has grown by an average of 50%. This can be attributed mainly to the millennial and Generation Z consumers increasingly embracing pet-owning and pet-loving lifestyles to a far greater extent than their elders. Over the years, pets have evolved to be an integral part of families all over the world. Consequently, modern-day pet owners are more willing to spend money to maintain the pet's health. This humanization trend of pets has resulted in extensive development of the pet food industry. The global pet food industry has grown by 22% since 2015 and was estimated at $101.3 billion in 2020. The market is forecasted to grow at a CAGR of 4.3% from 2020 to 2025.

Premiumization and humanization driving growth

Pet humanization has become a common phrase within the pet industry as more pet owners want to provide their pets with human-like products or experiences. The retailers and manufacturers are drawing inspiration from human trends and expanding their product line to supply pet owners with products that make them feel even more connected to their pets. The pet food categories—particularly high-end pet food—are moving closer to human nutrition.

Pet owners are continually searching for novel ingredients and innovative pet food products to boost the pet's health. The various benefits pet owners demand from pet food are boost the immune system, bones & muscle development, digestive aids, skin and coat health, maintain internal organs, among others. Manufacturers are using more and more premium and super-premium ingredients to cater to various pet owner's demands. Globally, the demand for premium and super-premium pet food has been rising due to the functional benefits. The growth in the pet food industry is coming from higher-end products driven by both the humanization and premiumization trend.  

Current trends in the Global Pet Food Market

Consumers all over the world are becoming aware of the effect of diet on pet’s health and hence are demanding clean labels and healthy ingredients. The consumers are demanding the detailed ingredients list and traceability mentioned on the packaging and also eco-friendly packaging of pet products. Manufacturers are introducing products labels with claims such as, “with wholesome grains,” “grain-inclusive,” “intentional grains,” “grain-friendly,” among others. Fruit ingredients are also becoming popular among manufacturers to increase the overall nutritional value and enhance the flavor and color. For example, puree from strawberries, raspberries, and blueberries are added into some pet food brands as a high-fiber source.

Pet parents are also opting for more fresh, frozen, and made-to-order diets for their pets, as they want to be in control of pet diets. Pet owners are choosing to prepare pet food by mixing raw food with other readily available pet food sources. More pet owners are also demanding functional pet foods, performance supplements, and solution-based products. For example, Blue Buffalo is releasing solutions-based pet food with benefits such as L-carnitine and less fat to maintain or lose weight, prebiotic fiber for high digestibility, Omega 3 and 6 fatty acids for skin and coat health, and glucosamine and chondroitin for mobility support.

Cat food fastest-growing segment

Globally, dog food is the leading pet food type in most countries; however, the growing demand for smaller pets is dampening the growth of the dog food category. Similarly, due to the increasing demand for small pets, cat food is projected to be the fastest-growing category from 2020 to 2025. Dry food is the most popular product category both in dog and cat food attributable to its low cost. Snacks & treats is the projected fastest-growing product segment as the demand for functional pet food with health benefits is growing exponentially.

The Global pet food market is also segmented based on distribution channels such as pet shops, supermarkets/hypermarkets, online channels, vet clinics, among others. Supermarkets and pet shops account for maximum sales of pet food mainly due to the availability of wide options of products and discounts on products. The online channel is projected to be the fastest-growing distribution channel, due to the exponential growth in Europe and Asia-Pacific. Economy products are the largest category due to its low cost and are also estimated to maintain dominance during the forecast period. However, the growth in the market is driven by premium and super-premium pet foods.  With economic stability and the humanization trend, consumers are buying premium products with functional properties. The premium segment is forecasted to be the fastest-growing segment among all pricing segment.

Asia-Pacific provides Growth Opportunity

The primary pet food consuming countries in the world are the U.S., U.K., France, and Brazil. North America and Europe lead the global pet food market accounting for 75% of the market share. However, with the growing demand for smaller pets in both regions, the pet food consumption has been displaying an exponential decline. The U.S. is the most dominant and developed market in the world, accounting for 34% of the global market share. Mexico and Russia are the fastest growing pet food markets in North America and Europe, respectively.  

Asia-Pacific, due to its vast tapped market, provides tremendous growth potential to the manufacturers. The region is forecasted to be the fastest-growing pet food consumer from 2020 to 2025. Japan is the most mature market in Asia-Pacific, and the growth has been stagnant. China, with economic prosperity, changing demographics, and growing pet adoption, provides a robust base for expansion. Thailand and South Korea, are forecasted to be the fastest-growing pet food consumers primarily due to comparative economic stability, less impact of COIVD-19 pandemic in Thailand, and efficient support to pet owners during the lockdown measures.

Competitive Landscape

Mars, Inc., Nestle Purina, Hill's Pet Nutrition, Inc., The J.M. Smucker Company, and Blue Buffalo Pet Products, Inc., among others, drive the pet food market globally. With a market share of 21.8% Mars Inc., is the industry’s market leader. The global competition in the pet food industry is intense, and the market is characterized by a high degree of concentration. The market leaders are focused on increasing the segmentation of products, food-oriented packaging, and developing brands focused on nutritional ingredients. The key players are also expanding their product portfolio through acquisitions and divestitures in existing markets as well as expanding aggressively into new foreign markets. The battle for market share is shifting from established markets in North America and EU countries to Eastern Europe, Asia, and South America. Aggressive marketing for brand building, strengthening the distribution channel, and collaborations with supermarkets are other significant strategies adopted in the market. The private-label brands focus more on current trends and are catering to rising demand for healthy, functional, and organic pet food.

Key Deliverables

  • Market trends since 2015 and five-year forecasts of market growth 
  • Detailed analysis of the micro and macro elements influencing demand trends
  • Identifying opportunity spaces across segments and countries  
  • Supply & demand side trend and analysis
  • Price trend analysis, investment prospects and competition pattern
  • Insights on the growth potential of the market in key countries 
  • Detailed analysis of major producers covering financial investments & strategies adopted
  • Competitive landscape of the industry

1. Introduction                                                                  

        1.1 Research Methodology                                                          

        1.2 Scope of the Study                                                               

        1.3 Assumptions                                                        

2. Summary                                                                      

        2.1 Market Summary By Type                                                     

        2.2 Market Summary by Geography                                             

3. Industry Dynamics                                                                 

        3.1 Drivers                                                        

                3.1.1 Snowballing pet population                                         

                3.1.2 Growing Trend of Pet Humanization                             

                3.1.3 Increasing demand of Therapeutic pet food                  

        3.2 Restraints                                                            

                3.2.1 Growing/Perceived connotation between pet food and obesity                                                

                3.2.2 Nutritional Sustainability                                             

                3.2.3 Supply Chain Challenge in developing countries            

        3.3 Opportunities                                                               

                3.3.1 Organic and natural pet food                                              

                3.3.2 Innovative Packaging                                                 

                3.3.3 Growth in Internet Retailing                                        

        3.4 Porter’s Five Forces Analysis                                                  

                3.4.1 Bargaining power of Suppliers                                     

                3.4.2 Bargaining power of Buyers                                        

                3.4.3 Degree of Competition                                                

                3.4.4 Threat of Substitution                                                 

                3.4.5 Threat of new entrants                                                       

        3.5 Future Trends in the Industry                                                

        3.6 Value Chain Analysis                                                             

        3.7 Industry Policies & Regulations                                                      

        3.8 Market Innovations                                                               

4. Market Size and Forecast                                                                

        4.1 Market Share, By Pet Types                                                  

                4.1.1 Dog Food                                                  

                4.1.2 Cat Food                                                   

                4.1.3 Bird Food                                                  

                4.1.4 Others                                                      

        4.2 Market Share, By Product Type                                                      

                4.2.1 Dry Food                                                  

                4.2.2 Wet Food                                                  

                4.2.3 Veterinary Diets                                                 

                4.2.4 Treats & Snacks                                                

                4.2.5 Raw Food                                                 

                4.2.6 Organic                                                    

        4.3 Market Share, Pricing                                                           

                4.3.1 Economic                                                  

                4.3.2 Premium                                                   

                4.3.3 Super-premium                                                 

        4.4 Market Share, Ingredients                                                             

                4.4.1 Animal Derivatives                                                     

                4.4.2 Fish Derivatives                                                 

                4.4.3 Fruits & Vegatables                                                    

                4.4.4 Cerelas & Cereal by products                                              

                4.4.5 Fats & Oils                                                

                4.4.6 Additives                                                  

                4.4.7 Others                                                      

        4.5 Market Share, Additives                                                        

                4.5.1 Vitamins                                                   

                4.5.2 Minerals                                                   

                4.5.3 Amino Acids                                                      

                4.5.4 Antioxidants                                                      

                4.5.5 Antimicrobials                                                    

                4.5.6 Colorants                                                  

                4.5.7 Emulsifiers & Stabilisers                                              

                4.5.8 Flavors                                                     

                4.4.9 Others                                                      

        4.6 Market Share, Distribution Channel                                         

                4.6.1 Pet Shops                                                 

                4.6.2 Mass Markets                                                    

                4.6.3 Internet Retailing                                                       

                4.6.4 Veterinanry Clinics                                                     

                4.3.5 Others                                                      

5. Country Market Share                                                                     

        5.1 North America                                                              

                5.1.1 U.S.                                                 

                5.1.2 Canada                                                     

                5.1.3 Mexico                                                      

                5.1.4 Others                                                      

        5.2 Europe                                                        

                5.2.1 U.K.                                                 

                5.2.2 France                                                      

                5.2.3 Germany                                                  

                5.2.4 Italy                                                 

                5.2.5 Spain                                               

                5.2.6 Russia                                                      

                5.2.7 Others                                                      

        5.3 Asia-Pacific                                                          

                5.3.1 China                                                       

                5.3.2 India                                                

                5.3.3 Japan                                               

                5.3.4 Thailand                                                   

                5.3.5 South Korea                                                      

                5.3.6 Australia                                                   

                5.3.7 Others                                                      

        5.4 South America                                                             

                5.4.1 Brazil                                                

                5.4.2 Argentina                                                  

                5.4.3 Colombia                                                  

                5.4.4 Chile                                                

                5.4.5 Others                                                      

        5.5 Africa                                                          

                5.5.1 South Africa                                                      

                5.5.2 Egypt                                                       

                5.5.3 Nigeria                                                     

                5.5.4 Others                                                      

6. Competitive Analysis                                                                       

        6.1 Market Share Analysis                                                           

        6.2 Growth Strategies of leading players                                               

        6.3 Investment and Development Prospects                                 

                6.3.1 Investment in past five years                                              

                6.3.2 Investment Opportunities                                           

        6.4 Competition Pattern                                                              

                6.4.1 Concentration Ratio                                                    

                6.4.2 Industry Competition                                                  

        6.5 Price Trend Analysis                                                             

                6.5.1 Product Classifications and Their Prices                        

                6.5.2 Factors Influencing Prices                                   

7. Company Profiles                                                                   

        7.1 Mars Inc                                                             

        7.2 Nestle SA                                                            

        7.3 Hills's Pet Nutrition                                                       

        7.4 Uni-Charm Corp                                                           

        7.5 Nutriara Alimentos Ltda                                                         

        7.6 Invivo NSA                                                          

        7.7 Agrolimen SA                                                               

        7.8 Mogiana Alimentos SA                                                           

        7.9 Heristo AG                                                           

        7.10 Deuerer                                                             

        7.11 Wellpet                                                              

        7.12 J.M. Sucker                                                        

        7.13 Diamond Pet Foods                                                             

        7.14 Blue Buffalo                                                       

        7.15 Merrick Pet Care