Market Overview

The global pet food market size was valued at USD 120.87 billion in 2023 and is projected to grow from USD 126.66 billion in 2024 to USD 193.65 billion by 2032, exhibiting a CAGR of 5.45% during the forecast period. North America dominated the Pet Food Market with a market share of 42.55% in 2023.

Fortune Business Insights™ has deep-dived into these insights in its latest research report, titled, “Pet Food Market, 2024-2032.”

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.

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.)

Report Coverage

The report was thoroughly prepared by combining statistics and in-depth analysis to provide a comprehensive overview of the market. It features numerous detailed conversations with key individuals and suppliers, along with data collected from surveys, phone calls, and emails. Additionally, it incorporates data from various other sources such as government websites, SEC reports, and news articles.

Segmentation

In terms of animal type, the market is segmented into cats, dogs and others.

Based on form, the industry is segregated into snacks & treats, wet pet food and dry pet food.