Pet Food Market is to grow at 5.2% CAGR, with Europe leading the market through 2030

Pet Food Market was USD 148.18 Bn in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 5.2 % from 2023 to 2030, reaching USD 222.29 Bn by 2030. The growing preference for Premium pet food items, such as natural, raw, and organic varieties, is becoming more and more popular. A move toward more nutrient-dense, scientifically formulated pet diets that are suited to the various life phases and health problems of pets, as well as a decrease in fatty ingredients and an increase in protein-rich ones, have all contributed to the expansion of the pet food market. About 2 million individuals in the UK and 1 million in Australia acquired pets during the COVID-19 lockdown. In the US, the yearly expenses of the pet care sector have increased reaching USD 151 billion in 2024.

Request Sample Link For More Details:https://www.maximizemarketresearch.com/request-sample/21009/

Pet Food Market Segmentation

By Product Form: In 2024, the Dry food segment held the largest market share due to popularity and affordability. Breed-specific and age-specific dry pet food alternatives are available from brands like Royal Canin and Hill's Science Diet. Wet Food has a higher moisture content and is frequently thought to be more appetizing by dogs. The snacks & Treats category includes goods like dental treats, chews, and other pet-friendly snacks.

By Application: The dog Food segment holds around two-thirds of the $50 billion pet food and treat market in the United States. The second-largest pet food market category in the United States is cat food. Due to rising pet ownership, a preference for high-end goods, and a heightened emphasis on the diet and health of pets.

Pet Food Market Regional Analysis

In the United States, the Pet Food Market is expected to grow to $82.13 billion in 2025. Major key players with a significant presence in North America include Blue Buffalo, Nestlé Purina, and Mars Inc. US region shows dominance to strong pet ownership culture, high disposable incomes, and a deep-seated commitment to pet health and nutrition.

Get to Know More About This Market Study: https://www.maximizemarketresearch.com/market-report/global-pet-food-market/21009/ 

Germany's pet food sales in 2023 came to almost €4.495 billion representing a large portion of the pet care industry as a whole. About 7% of German pet owners are purchasing pet food online exclusively through online channels. The greatest portion of the German pet food market is made up of cat food in which is the most profitable segment.

China, it is anticipated that China's urban pet population will overtake that of children under four, signifying a dramatic change in the country's demographics and purchasing habits. The most profitable market is dry food, which grew at the quickest rate throughout the projection period.

Pet Food Market Competitive Landscape

Mars Petcare Inc. is a leading pet food industry, generating about $17 billion annually in pet food products. In 2023, Mars Petcare acquired Champion Petfoods a producer of premium pet food brands ORIJEN and ACANA. Mars agreed to acquire Heska Corp. for $120.00 per share, totaling approximately $1.2 billion.

Nestlé Purina Petcare acquired Lily's Kitchen, a UK-based natural pet food brand in 2020. In 2023, Purina revealed plans to acquire the Miami, Oklahoma, pet treat facility owned by Red Collar Pet Foods from Arbor Investments.

The J.M. Smucker Company acquired Hostess Brands for approximately $5.6 billion in November 2023. In 2024, Smucker is considering the sale of its Voortman cookie brand, potentially valuing the brand at over $350 million.

Request Sample Link For More Details:https://www.maximizemarketresearch.com/request-sample/21009/

Conclusion

Customers prefer higher-quality meals that meet their dogs' unique nutritional demands as pets are increasingly viewed as part of the family.
Increased demand for high-end, natural, and specialty food items; expanding knowledge of pet nutrition and health; and rising pet ownership worldwide.

For additional insights, visit:

♦ Global Bone Broth Protein Market https://www.maximizemarketresearch.com/market-report/global-bone-broth-protein-market/93767/

♦ Vegan Food Market https://www.maximizemarketresearch.com/market-report/vegan-food-market/123528/

♦ Organic Wine Market https://www.maximizemarketresearch.com/market-report/organic-wine-market/123347/

♦ Gummy Vitamins Market https://www.maximizemarketresearch.com/market-report/global-gummy-vitamins-market/112749/

♦ Global Ethyl Hydroxyethyl Cellulose Market https://www.maximizemarketresearch.com/market-report/global-ethyl-hydroxyethyl-cellulose-market/102928/

♦ Cultured Meat Market https://www.maximizemarketresearch.com/market-report/global-cultured-meat-market/93662/

♦ Almond Milk Market https://www.maximizemarketresearch.com/market-report/almond-milk-market/201493/

Contact Maximize Market Research:

MAXIMIZE MARKET RESEARCH PVT. LTD.
⮝ 3rd Floor, Navale IT park Phase 2,
Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
✆ +91 9607365656
🖂 sales@maximizemarketresearch.com
🌐 www.maximizemarketresearch.com

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

This release was published on openPR.