The scope of our recent study on the "Pet Food Market Forecast to 2031 - Global Analysis - by Product Type, Pet Type, Category, Distribution Channel, and Geography" includes the factors fueling the pet food market growth, revenue estimation, and forecast, market share analysis, and the identification of significant market players and their key developments.

The pet food market size is projected to reach US$ 183.39 billion in 2024 to US$ 268.59 billion by 2031; it is estimated to register a CAGR of 5.6% from 2024 to 2031.

As pets provide comfort and emotional support, with dogs being particularly effective in this role, they often play a crucial role in many households, contributing to the overall physical and mental well-being. Owing to the growing awareness of the benefits of pet companionship, the humanization of pets is steadily increasing across the globe, including in emerging economies. Pet ownership skyrocketed during the COVID-19 pandemic, as most working officials were urged to work remotely to reduce contact with people amidst the outbreak. In India, there is an increasing popularity of pets. According to the Government of Canada, the pet population of the country increased from 22.1 million in 2018 to 38.5 million in 2023. Moreover, India's dog ownership surged from 16.9 million households in 2018 to 23.9 million households in 2023, while the number of households owning cats also increased during the same period. Likewise, the percentage of US households that own dogs and cats has also increased steadily from 1991 to 2024. According to the data from the American Veterinary Medical Association, about 59.8 million US households owned dogs, and 42.1 million US households owned cats as of 2024. According to the recent reports published by the European Pet Food Industry Federation (FEDIAF) and GlobalPETS, Europe is home to an impressive 352 million pets. Cats and dogs dominate the pet population, with 129 million cats and 106 million dogs. In the Netherlands, cats remain one of the favorite pets among the Dutch (with 3 million cats living across the nation), followed by dogs (with a population of 1.8 million). Likewise, cats continue to be among the most cherished pets in Belgium households. The number of dogs owned by households is steadily increasing in Belgium. Dogs-known for their loyal and energetic nature-are increasingly valued by families and individuals who are looking for a pet that can accompany them during outdoor activities. According to a study conducted by the Belgian Pet Food Association in 2024, each Belgian household owned an average of three pets. Therefore, with the growing number of people adopting pets, especially dogs and cats, the demand for dog food and cat food is subsequently rising globally. The humanization of pets has caused owners to prioritize high-quality food options. Therefore, the increasing pet ownership and humanization of pets in various countries across the globe are driving the demand for pet food.

The dry pet food segment is anticipated to hold a significant pet food market share. Dry foods are low in moisture content and are available in forms such as pellets, kibbles, and flaked cereals. Dry pet foods ensure the teeth health of dogs and cats by reducing plaque buildup. Owing to its low moisture content, dry food items have a longer shelf life and can be stored without refrigeration, thereby providing higher convenience, unlike canned foods. Thus, the adoption of dry pet food is comparatively higher among both dog and cat owners. Growth is further supported by trends in pet humanization, where owners seek specialized food for their pets' health and preferences. Additionally, factors such as easy storage, longer shelf life, and packaging innovations contribute to its expansion.

North America accounted for a remarkable share of the pet food market in 2024. The US is the largest markets for pet food in North America. The pet food market in the US is significantly growing owing to rising adoption of pet ownership and increasing spending on pet health. According to the American Veterinary Medical Association, 45.5% of households own dogs, while 32.1% own cats. Also, the Kerry Group surveyed US dog and cat owners and found people to be more concerned about their pets' health during the COVID-19 pandemic. 69% of these concerned consumers have considered adding immune-strength-supporting products to their pets' diets. The US population spends a large amount of its income on pet items. According to the American Pet Product Association, US pet owners spent US$ 64.4 billion on pet food and treats in 2023. Thus, the rise in pet ownership and increase in pet expenditure is projected to drive the demand for the pet food market in the country.

Based on the pet type, the dog segment accounted for a remarkable share of the pet food market in 2024. According to the 'National Pet Owners Survey,' conducted by the American Pet Products Association (APPA), 2021-2022, 70% of US households, i.e., nearly 90.5 million families, own a pet. Of these, 69.0 million US households own dogs. Further, dog owners are allocating higher expenditures toward nutritious dog food as concerns about pet's health continue to rise. As more people adopt a variety of dog breeds, from small to large, there is a need for specialized pet food catering to the specific nutritional needs of different breeds, ages, and health conditions. This has expanded pet food product categories, further driving market growth. Thus, the high adoption of dogs as pets, coupled with increasing spending by pet owners on their well-being, is anticipated to drive the pet food market growth in the dog segment during the forecast period.

Based on category, the plant-based segment is projected to register the fastest CAGR from 2024 to 2031. Plant-based pet food is produced with natural ingredients without a trace of animal-derived raw material and ensures no cruelty or exploitation of animals. Ingredients include corn, rice, soybean, oats, chickpea, sunflower seed meals, pea protein, hydrolyzed vegetable meal, and flaxseed meal. The key trends in the pet food market are influenced by human food trends, such as clean labels, veganism, alternative proteins, and healthier ingredients. Vegan pet owners prefer to feed plant-based pet food even to their pets, which is catalyzing the global vegan pet food market growth. Pet owners always look for products that have clean labels, sustainability claims, and functional nutrition. Pet lovers also increasingly look for labels and packaging that reflect their personal food choices and demands. The rising humanization of pets has had a major impact on the growth of the global market for plant-based pet food.

The report includes the segmentation of the global pet food market as follows:

The global pet food market is segmented based on product type, pet type, category, and distribution channel. In terms of product type, the market is segmented into dry food, wet food, and snacks & treats. By pet type, the market is bifurcated into dogs and cats. Based on category, the market is segmented into animal -based and plant-based. By distribution channel, the market is segmented into supermarkets and hypermarkets, pet specialty stores, vet clinic, convenience stores, online retail, and others.

By geography, the market is broadly segmented into North America, Europe, Asia Pacific, South and Central America, Sub Saharan Africa, and Middle East and North Africa. The North America market is further segmented into the US, Canada, and Mexico. The pet food market in Europe is sub-segmented into Germany, UK, France, Spain, Italy, and the Rest of Europe. The Asia Pacific pet food market is further categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. The market in the South and Central America is further segmented into Brazil, Argentina, and the Rest of South & Central America. The Sub Saharan Africa market is further categorized into South Africa, Nigeria, Kenya, and the Rest of Sub Saharan Africa. The market in the Middle East & North Africa is further segmented into Egypt, Saudi Arabia, UAE, Algeria, Morocco, Turkey, Oman, Iran, Kuwait, Qatar, Bahrain, Iraq, and the Rest of Middle East & North Africa.

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