Pet Food Market to Reach USD 193.65 billion by 2032, Driven by a 5.52% CAGR from 2025-2032

Market Overview:
The global pet food market size was valued at USD 126.66 billion in 2024. The market is projected to grow from USD 132.92 billion in 2025 to USD 193.65 billion by 2032, exhibiting a CAGR of 5.52% during the forecast period. North America dominated the pet food market with a market share of 40.6% in 2024. Moreover, the pet food market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 59.76 billion by 2032, driven by high pet ownership and a rising trend of pet humanization.

The pet food products are available in different forms in the market, including wet, dry, and snack treats. The food products for pets, including cats, dogs, and others, can be plant-based and animal-based. The increasing pet population globally is anticipated to drive market growth during the forecast period.

Fortune Business InsightsTM mentions this in a report titled, "Pet Food Market Size, Share, 2025-2032".

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The objective of the market research report on the pet food market is to deliver a comprehensive analysis of the market, featuring insightful observations, statistics, historical data, and industry-validated insights. It also aims to deliver forecasts grounded in reliable assumptions and methodologies. This study enhances the understanding of global pet food market dynamics and structure by segmenting and analyzing various market sectors while estimating the overall market size and share.

List of Key Players Present in the Report:
• Mars Incorporated (U.S.)
• Nestle S.A. (Switzerland)
• The J.M. Smucker Company (U.S.)
• Colgate-Palmolive Company (U.S.)
• General Mills, Inc. (U.S.)
• Diamond Pet Foods (U.S.)
• Heristo AG (Germany)
• Tiernahrung Deuerer GmbH (Germany)
• Merrick Pet Care, Inc. (U.S.)
• WellPet LLC (U.S.)

Segments
Increasing Launch of Dog Treats to Propel Dog Segment Growth
Based on animal type, the market is divided into dogs, cats, and others. The dog segment holds the largest market share and dominates the market owing to the growing introductions of dog treats and nutrition-rich pet food globally.

High Convenience and Shelf-life to Drive Dry Pet Food Segment Expansion
By form, the market is categorized into dry, wet, and snacks & treats. The dry pet food segment is leading the market as there is a high demand for dry food due to its high convenience and shelf-life compared with wet food.
Supermarket/Hypermarket to Dominate the Market Due to their High Preference among Consumers
Based on distribution channel, the market is segmented into supermarket/hypermarket, specialty stores, online channel, and others. The
supermarket/hypermarket segment holds the largest market share owing to their high preference among consumers as these markets offer convenience in terms of choices for prices and brands.

Animal Segment's Leading Growth Owed to its Increased Popularity
Based on source, the market is split into animal and plant. The animal source segment leads market growth owing to its increased popularity and high consumption of animals to produce dog and cat food products. These food products are widely available due to their high popularity.

Geographically, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Tariff Impact Analysis for Pet Food Market: https://www.fortunebusinessinsights.com/enquiry/request-sample-us-tariff/pet-food-market-100554

Report Coverage
The report offers:
• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• The latest industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints
Growing Pet Humanization to Propel Market Growth
The growing trend of pet humanization has significantly increased the demand for premium pet food, as more people are willing to invest in high-quality, nutritious products for their pets. This shift is driving the expansion of the pet food market, particularly as millennial pet ownership rises worldwide. However, intensifying competition among products and the availability of lower-priced options in developing markets could hinder overall market growth.

Regional Insights
Large Adoption of Pet Humanization in the U.S. Propels Market Growth in North America
North America dominates the pet food market and is expected to see continued growth during the forecast period. This growth is driven by the widespread adoption of pet humanization, which boosts the demand for natural and nutritious pet food products. Meanwhile, the Asia Pacific region is experiencing some of the fastest growth in the market, fueled by a rapid rise in pet ownership across developing countries such as South Korea, China, India, Japan, and others.

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Competitive Landscape
Growing Adoption of Mergers and Acquisitions Strategies to Propel Market Growth
The market features prominent players like Colgate-Palmolive, Nestle Purina Petcare, and others. These leading companies are driving market growth through strategies such as brand strengthening, innovative product launches, expanding online distribution channels, and engaging in mergers and acquisitions.

Key Industry Development
November 2023 - A well-known Czech pet food producer, Vafo Group, announced the introduction of its new brand, Planet Pet Society. With Planet Pet Society, the company seeks to expand its operations in the sustainable dog and cat food market.

Related Reports:
Pet Food Packaging Market: https://www.fortunebusinessinsights.com/pet-food-packaging-market-108345

Pet Food Processing Market: https://www.fortunebusinessinsights.com/pet-food-processing-market-104370

Pet Care Market: https://www.fortunebusinessinsights.com/pet-care-market-104749

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This release was published on openPR.