Pet Food Market Size to Worth USD 193.65 Billion by 2032 | CAGR of 5.52% during 2025-2032

Explore the latest insights on the global pet food market, including growth drivers, trends. Discover key statistics, segments analysis, and industry outlook.

PUNE, MAHARAHTRA, INDIA, February 27, 2025 /EINPresswire.com/ -- 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.

Fortune Business Insights™ has deep-dived into these insights in its latest research report, titled, “Pet Food Market, 2025-2032.”

The analysis shows that top companies are investing more in pet foods because more people are owning pets. For example, Mars Petcare said that the sales of cat and dog treats increased by 6.5% from February to May 2020. This trend indicates a strong demand for pet food worldwide.

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➡️ Major Players Profiled in the Market Report:
• Mars Incorporated (Virginia, U.S.)
• Nestle S.A. (Vevey, Switzerland)
• The J.M. Smucker Company (Ohio, U.S.)
• Colgate-Palmolive Company (New York, U.S.)
• General Mills, Inc. (Minnesota, U.S.)
• Diamond Pet Foods (Missouri, U.S.)
• Heristo AG (Osnabruck, Germany)
• Tiernahrung Deuerer GmbH (Bretten, Germany)
• Merrick Pet Care, Inc. (Texas, U.S.)
• WellPet LLC (Massachusetts, U.S.)

➡️ Segmentation Analysis

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.

Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/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 rapid growth in pet humanization has raised the demand for premium pet food among people as they are more inclined to spend on high-quality and healthy food products for their pets, boosting the pet food market growth. Pet humanization is rising globally due to the increased pet ownership of millennials.

However, the increasing competitiveness between the products driving the rising market competitiveness and lower premium or high-priced food across the developing markets may hamper market growth.

➡️ Regional Insights

Large Adoption of Pet Humanization in the U.S. Propels Market Growth in North America
North America holds the dominant pet food market share and is projected to experience growth during the forecast period. The region’s growth is attributed to the wide adoption of pet humanization, further encouraging the development of natural and nutritious pet foods produced for pet animals.
Asia Pacific is one of the fastest-growing regions in the market. The growth is attributed to the rapid increase in pet ownership in developing nations, including South Korea, China, India, Japan, and others.

➡️ Report Scope & Segmentation:
Market Size Value in 2025: USD 132.92 billion
Market Size Value in 2032: USD 193.65 billion
Growth Rate: CAGR of 5.52% (2025-2032)
Base Year: 2024
Historical Data: 2019-2023
Years Considered for the Study: 2019-2032
No. of Report Pages: 180
𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝘀 𝗖𝗼𝘃𝗲𝗿𝗲𝗱: By Animal Type (Dogs, Cats, and Others), By Form (Dry Pet Food, Wet Pet Food, and Snacks & Treats), By Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online Channel, and Others), By Source (Animal and Plant)

➡️ Pet Food Market Future Growth:

The pet food market is poised for strong growth, driven by increasing pet ownership, humanization of pets, and demand for premium, health-focused products. Consumers are seeking pet food with high-quality, natural ingredients, including organic, grain-free, and functional additives that support wellness. Trends in pet health awareness and specialized diets—such as raw, freeze-dried, and fresh pet foods—are also propelling the market. E-commerce growth, coupled with the expansion of pet ownership in emerging markets, further boosts the sector. North America and Europe lead in premium offerings, while Asia-Pacific sees rising demand due to increasing pet adoption and urbanization.

➡️ Competitive Landscape

Growing Adoption of Mergers and Acquisitions Strategies to Propel Market Growth
The market comprises key players, such as Colgate-Palmolive, Nestle Purina Petcare, and others. The growing adoption of strategies by these major market players, including brand strengthening, innovative product launches, online distribution of products, and mergers and acquisitions, drives market growth.

➡️ Key Industry Development

October 2023: Scientific Remedies, one of the well-known animal health companies, announced its collaboration with Affinity Petcare, one of the known pet food companies based in Spain, with the launch of its all-new brand, Affinity Advance in India.

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Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
+1 833-909-2966
sales@fortunebusinessinsights.com
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