Pet Food And Treats Market

According to Stratistics MRC, the Global Pet Food and Treats Market is accounted for $110.1 billion in 2024 and is expected to reach $161.5 billion by 2030 growing at a CAGR of 6.6% during the forecast period. Pet food and treats are essential for the nutritional needs of domesticated animals like dogs, cats, birds, and small mammals. Pet food provides essential nutrients like proteins, carbohydrates, fats, vitamins, and minerals to support overall health, growth, and energy levels. High-quality pet food is tailored to specific life stages, dietary requirements, and health conditions. Pet treats, on the other hand, are supplementary snacks given as rewards, training, or occasional indulgences. They come in various types and serve different functions like promoting dental health or reinforcing good behavior. Both should be selected based on a pet's age, size, breed, and dietary needs, with owners prioritizing high-quality ingredients and avoiding harmful additives or fillers. Proper nutrition through balanced pet food and healthy treats contributes to a pet's longevity, vitality, and overall well-being.

According to the American Pet Products Association (APPA), in 2021, USD 123.6 billion was spent on pets including pet food & treats, supplies, vet care, and others in the U.S. In 2021, the highest sales in the country, amounting to USD 50.0 billion, were attributed to pet food and treats.

Market Dynamics: 

Driver: 

Rising pet ownership and humanization of pets

The global rise in pet ownership is significantly driven by the increasing humanization of pets. People today are treating their pets as family members, leading to higher spending on premium products and services. The emotional bond between pets and their owners fosters demand for high-quality, nutritious pet food and treats. This trend is particularly notable in urban areas, where lifestyle changes and smaller household sizes make pets important companions. The market growth is further propelled by the increasing adoption of pets among millennials and Gen Z, who are more inclined to pamper their pets.

Restraint:

High cost of premium products

The high cost of premium pet food and treats can be a significant barrier to market growth. Many pet owners may find it challenging to afford these products, especially during economic downturns. Premium products often come with higher price tags due to superior ingredients and rigorous quality control standards. This cost factor can limit the accessibility of these products to a broader audience. Additionally, price-sensitive consumers may opt for more affordable alternatives, impacting the overall market dynamics.

Opportunity:

Increasing awareness of pet health and wellness 

There is a growing awareness among pet owners about the importance of pet health and wellness. This shift is driving the demand for healthier, organic, and natural pet food options. Pet owners are increasingly seeking products that offer functional benefits, such as improved digestion, joint health, and weight management. This trend presents a significant growth opportunity for manufacturers to innovate and introduce products that cater to these health-conscious consumers. The rising popularity of pet wellness products, including supplements and dental care items, further supports market expansion.

Threat:

Competition from homemade diets

The rising trend of homemade diets poses a threat to the commercial pet food and treats market. Many pet owners believe that preparing food at home offers better control over the ingredients and quality of their pets' diet. This DIY approach is gaining traction, particularly among those concerned about the safety and transparency of commercial products. The availability of online recipes and guidance on homemade pet diets makes it easier for owners to opt for this alternative. Consequently, the competition from homemade diets could potentially impact the sales of commercial pet food and treats.

Covid-19 Impact

The Covid-19 pandemic has had a mixed impact on the pet food and treats market. On one hand, the increased time spent at home led to a rise in pet adoptions, which in turn boosted the demand for pet food and treats. However, supply chain disruptions and economic uncertainties affected production and distribution, leading to short-term challenges. As the world recovers from the pandemic, the market is expected to stabilize and grow, driven by the sustained increase in pet ownership. The emphasis on maintaining pet health and wellness post-pandemic further supports market growth. 

The dry pet food segment is expected to be the largest during the forecast period

The dry pet food segment is expected to account for the largest market share during the forecast period due to the convenience, long shelf life, and cost-effectiveness of dry pet food. Pet owners appreciate the ease of storage and feeding associated with dry food products. The demand is also driven by the wide variety of flavors and formulations available to cater to different pet needs. Advancements in dry pet food formulations, ensuring balanced nutrition, further boost this segment's growth.

The plant-based segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the plant-based segment is predicted to witness the highest growth rate fuelled by the growing trend of vegan and vegetarian lifestyles among pet owners, extending to their pets' diets. Increasing concerns about environmental sustainability and animal welfare also drive this segment's growth. Manufacturers are innovating to provide nutritionally complete and palatable plant-based pet food options. The rising awareness of the benefits of plant-based diets for pets contributes to the segment's rapid expansion.

Region with largest share:

During the forecast period, the North America region is expected to hold the largest market share attributed to the high pet ownership rates and the presence of key industry players in the region. The region's focus on pet health and wellness, along with the availability of a wide range of premium products, supports market growth. Additionally, North America's advanced retail infrastructure facilitates easy access to pet food and treats. Continuous product innovations and marketing strategies by leading brands further bolster the region's market position.

Region with highest CAGR:

Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR owing to the rapid urbanization, increasing disposable incomes, and changing lifestyles in countries like China and India drive the demand for pet food and treats. The growing awareness of pet health and the humanization of pets in this region also contribute to market growth. Additionally, the expansion of the pet retail sector and e-commerce platforms facilitates wider product availability. The Asia Pacific market is set to experience robust growth, driven by economic development and a rising pet-loving population.

Key players in the market

Some of the key players in Pet Food and Treats market include Diamond Naturals, Hill's Pet Nutrition, Inc, LUPUS Alimentos, Merrick Pet Care , Natural Treats, Nestle Purina, Pedigree®, Purina PetCare, Saturn Petcare Group, The Dog Treat Company, The J.M. Smucker Company, Total Alimentos, Tyson Foods and Wellness Pet Company. 

Key Developments:

In January 2024, Hill's Pet nutrition to launch ""welcome home"" adoption campaign; commits up to $130,000 to help cover adoption costs and provides hill's science diet to adopters in January

In June 2024, Kennelpak has expanded its exclusive distributor partnership with grain-free and natural pet food producer Diamond Pet Foods. This new range, along with Taste of the Wild, will serve the premium and quality natural pet food market in the UK.

Product Types Covered:
• Dry Pet Food 
• Wet Pet Food 
• Pet Treats & Snacks 
• Frozen & Freeze-Dried Pet Food 
• Organic & Natural Pet Food 
• Other Product Types  

Pets Covered:
• Dogs 
• Cats 
• Birds 
• Fish 
• Reptiles 
• Small Mammals 
• Other Pets    

Ingredient Types Covered:
• Animal-Based 
• Plant-Based 
• Insect-Based 
• Organic & Natural Ingredients 
• Other Ingredient Types  

Distribution Channel s Covered:
• Online Retail 
• Supermarkets & Hypermarkets 
• Pet Specialty Stores 
• Veterinary Clinics 
• Convenience Stores 
• Other Distribution Channels  

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances