$133,430.9 million of Pet Food Market to Grow at a CAGR of 4.6% from 2021 to 2030 | Size, Share And Growth

pet food market size was valued at $87,268.2 million in 2020, and is projected to reach $133,430.9 million by 2030, registering a CAGR of 4.6% from 2021 to 2030

DELAWARE, WILMINGTON, UNITED STATES, February 21, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Pet food market" by Training Program, by Industries: Global Opportunity Analysis and Industry Forecast, 2021 - 2030". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

The global pet food market size was valued at $87,268.2 million in 2020, and is projected to reach $133,430.9 million by 2030, registering a CAGR of 4.6% from 2021 to 2030.

Pet food market is booming owing to increased pet ownership across the globe due to rising consumers' disposable income. The major factors and pet food market trends driving the global pet food market are rising trend of nuclear families, rapid humanization of pets, increasing awareness about pet health. However, increase in pet obesity and pet food recalls are expected to hinder the market growth to a certain extent over the pet food market forecast period 2021-2030. Additionally, increasing pet ownership in developing nations and rising e-commerce sales act as an opportunity for the global market.

According to pet food market analysis, the market is classified on the basis of pet type, food type, sales channel and region. By pet type, the pet food market is segmented into dogs, cats and other pets. Rising trend of nuclear families and their need to keep dogs for companionship and security resulted into highest revenue generation in 2020. Based on food type, the market is segregated into dry food, wet food, treats & snacks and others. Dry food holds the highest pet food market share by food type because it is one of the most convenient types of food, easy to store, requires no refrigeration, and available at affordable prices as compared to other types of food.

📚 𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗦𝗮𝗺𝗽𝗹𝗲 𝐏𝐃𝐅 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/530

By sales channel, the market is categorized into supermarkets & hypermarkets, specialized pet shops, online sales channel, and others. Region wise, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America contributed the highest revenue in 2020 and is expected to dominate the market during the forecast period.

The rising disposable income in urban areas has resulted into a greater number of households owning a pet and spending willingly on their dogs, cats, fishes more than ever before. Over the past few years, several multinational companies have established a presence in various regions, owing to this high amount of pet ownership and have enhanced their presence through a manufacturing facility or through their distribution facilities. For instance, Perfect Companion, a multinational company from Thailand has setup its new factory in Zhenjiang province.

Furthermore, flavor trends have begun to emerge in the pet food market. For instance, the adoption of beef in several food categories (dry and wet food) has witnessed a recent trend while chicken is already a dominating flavor. Overall, natural, organic and nutritious food trends are driving the market owing to its grain-free properties and health benefits offered to pets.

The COVID-19 pandemic had a positive and negative impact on the pet food market growth. The supply chain disruption had a negative impact, while the increase in adoption of pets had a positive impact on the market.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/530

Population growth, rise in incomes in developing countries, and urbanization have all contributed to an increase in global pet food production. The rise in pet population has led to increase in pet humanization. As a result of which, the consumers are tending toward premium pet food products so as to minimize health associated risks. It also gives lucrative pet food market opportunities to producers to manufacture therapeutic and nutritional foods concerning pets' health and would allow them to gain high pet food market share in the industry.

The consumers prefer cats over dogs because cats are easy to handle due to their small and convenient size and can be easily taken care. Therefore, cat food is likely to grow faster than dog food. However, wet cat food has witnessed a slight increase in its growth as it offers high nutrition to cats and is better for their oral and dental health.

Pet parents pay more attention to their pets by offering them more functional food, particularly breed and age-specific items. Also, pets are viewed as full members of the family and are benefited for treats, snacks and other premium foods as their owners. The pet parents want their pets be benefited from unique, natural, organic and flavourful ingredients and thus, manufacturers are keeping up this trend by manufacturing organic and healthy pet food products.

The market is driven by rapid pet humanization, rising pet ownership and demand for therapeutic foods. Pet humanization is a recent trend and has resulted in an increased focus on pet's health, weight, and overall fitness. Therefore, the demand for premium and super premium pet food products have witnessed a significant growth as Italian pet owners believe that these are healthier for their pets.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
Mars Petcare Inc.
The Hartz Mountain Corporation
Big Heart Pet Brands
Nestle Purina Pet Care
Diamond Pet Foods
Hill's Pet Nutrition
Deuerer
WellPet
Blue Buffalo
Heristo AG.

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲
• The global pet food market size was valued at $87,268.2 million in 2020, and is projected to reach $133,430.9 million by 2030, registering a CAGR of 4.6% from 2021 to 2030.
• By pet type, the dogs segment was the highest contributor to the market, with $39,646.2 million in 2020, and is estimated to reach $61,049.5 million by 2030, at a CAGR of 4.7% during the forecast period.
• By food type, the dry food segment was the highest contributor to the market, with $29,386.8 million in 2020, and is estimated to reach $47,937.5 million by 2030, at a CAGR of 5.3% during the forecast period.
• By sales channel, the specialized pet shops segment was the highest contributor to the market, with $31,414.8 million in 2020, and is estimated to reach $50,533.1 million by 2030, at a CAGR of 5.1% during the forecast period.
• By region, North America was the highest revenue contributor, accounting for $30,369.3 million in 2020, and is estimated to reach $48,435.4 million by 2030, with a CAGR of 5.0%.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 @: https://www.alliedmarketresearch.com/checkout-final/f4ac0151cce6dce6c5c749d6afce7929

𝗥𝗲𝗮𝘀𝗼𝗻𝘀 𝗧𝗼 𝗕𝘂𝘆 𝗧𝗵𝗶𝘀 𝗣𝗲𝘁 𝗙𝗼𝗼𝗱 𝗠𝗮𝗿𝗸𝗲𝘁 𝗥𝗲𝗽𝗼𝗿𝘁:
> Mergers and acquisitions should be well-planned by identifying the best manufacturer.
> Sort new clients or possible partners into the demographic you're looking for.
> Suitable for providing dependable and high-quality data and analysis to assist your internal and external presentations.
> Develop tactical initiatives by gaining a better grasp of the areas in which huge corporations can intervene.
> To increase and grow business potential and reach, develop and plan licencing and licencing strategies by finding possible partners with the most appealing projects.
> Recognize newcomers with potentially strong product portfolios and devise effective counter-strategies to acquire a competitive edge.
> To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors.

𝗧𝗵𝗲 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗽𝗿𝗼𝘃𝗶𝗱𝗲𝘀 𝗮𝗻𝘀𝘄𝗲𝗿𝘀 𝘁𝗼 𝘁𝗵𝗲 𝗳𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴 𝗸𝗲𝘆 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀:
Q1. What is the total market value of the Pet Food Market report?
Q2. What would be the forecast period in the Pet Food Market report?
Q3. Which is the base year calculated in the Pet Food Market report?
Q4. Which are the top companies hold the market share in the Pet Food Market?
Q5. Which is the most influencing segment growing in the Pet Food Market report?
Q6. Which market holds the maximum market share of the Pet Food Market?
Q7. How the company profile has been selected?
Q8. What is the market value of the Pet Food Market in 2020?

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐀𝐌𝐑 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
➣ Pet Furniture Market
https://www.alliedmarketresearch.com/pet-furniture-market-A10832

➣ Pet Care Market
https://www.alliedmarketresearch.com/pet-care-market-A06512

➣ Online Pet Food Supplies Market
https://www.alliedmarketresearch.com/online-pet-food-supplies-market-A07748

➣ Vegan Pet Food Market
https://www.alliedmarketresearch.com/vegan-pet-food-market-A15847

➣ Functional Pet Food Market
https://www.alliedmarketresearch.com/functional-pet-food-market-A11855

David Correa
Allied Market Research
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