Global Animal And Pet Food Market was valued at USD 11 Billion in 2022 and is projected to reach USD 17 Billion by 2030, growing at a CAGR of 6.0% from 2024 to 2030.
The animal and pet food market has experienced remarkable growth in recent years, driven by evolving consumer preferences and demographic shifts. Notably, in China, urban pets are projected to outnumber children under four years old by 2024, creating a substantial $12 billion market for pet food by the decade's end. This trend reflects a global movement towards pet humanization, where pets are increasingly considered family members.
In my own experience as a pet owner, I've observed a significant shift towards premium and specialized pet foods. For instance, my local pet store now offers a range of gourmet options, including grain-free and organic selections, catering to the discerning tastes of modern pet parents. This mirrors the broader industry trend towards premiumization, with companies like General Mills expanding their portfolios through acquisitions in the premium pet food segment.
However, the market is not without its challenges. In India, despite a growing pet population estimated at 29 million, the country faces a shortage of pet foods. Domestic production meets only about 45-50% of the demand, with the remainder being imported. Factors such as higher taxes, an ambiguous business environment, and the absence of uniform quality standards hinder the sector's growth. The government has urged the industry to boost local production by leveraging existing central schemes, aiming to bridge the demand-supply gap.
Innovations are also shaping the future of the pet food industry. The UK recently became the first European country to approve lab-grown meat for pet food, a move that could significantly reduce the environmental impact of traditional meat production. This development opens new avenues for sustainable and ethical pet feeding practices.
As a pet owner, these trends resonate with my own journey. The increasing availability of diverse and high-quality pet food options has allowed me to make more informed choices for my pets' health and well-being. The industry's focus on sustainability and premium products aligns with my values, making it an exciting time to be part of the pet-loving community.
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Nestle Purina
Mars Petcare
The J.M. Smucker Company
Blue Buffalo
HillS Pet Nutirion
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Animal And Pet Food Market
Hypermarkets/Supermarkets
Convenience Stores
Others
Based on Types the Market is categorized into Below types that held the largest Animal And Pet Food market share In 2023.
Pet Food
Animal Food
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Animal And Pet Food Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Animal And Pet Food Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Animal And Pet Food Market, By Type
6. Global Animal And Pet Food Market, By Application
7. Global Animal And Pet Food Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Animal And Pet Food Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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