15 Biggest Pet Food Companies in the World
In this article, we will discuss the 15 Biggest Pet Food Companies in the World. If you want to skip our analysis of the pet food industry, go directly to the 5 Biggest Pet Food Companies in the World.
The pet food industry has undergone rapid transformation over the last couple of years and has seen hefty growth in light of evolving consumer preferences surrounding pet adoption, pet wellness and pet dietary choices. The pet food industry stands at $100 billion in 2022 and is forecasted to grow to $143 billion by 2023 at a CAGR of 4.48%. The United States, UK, Germany, France, Brazil, Russia, and Japan form the leading markets for pet food. The United States is one of the largest contributors to global revenues in the pet food industry, posting record pet food sales of $50 billion in 2021.
The growth of the global pet food market is primarily driven by increasing pet humanization, increasing numbers of households with pet ownership, the rise of local private label store brands, and rising urbanization accompanied by higher disposable incomes. According to a survey conducted by Chewy, a leading retailer of pet products, 73% of pet owners regarded their pets' health as important as that of a family member. Pet owners are increasingly becoming concerned about the choice of pet food for their pets, making premium pet food brands extremely popular. This positively contributes to the pet food market and is expected to contribute to substantial growth going forward.
We have picked the 15 biggest pet food companies in the world and have ranked them from #15 to #1 in order of their 2021 annual revenue.
15 Biggest Pet Food Companies in the World
15. Simmons Pet Food
2021 annual revenue: $97 million
Simmons Pet Food is a leading supplier of pet food in North America. The company uses high-quality ingredients and cutting-edge production technologies to create premium and value-oriented pet food, including cans, pouches, and cups. Simmons Pet Food also supplies its products to several wholesale and retail stores in the United States. The company's revenue in 2021 stood at $97 million.
In addition to Simmons Pet Food, Nestlé Purina PetCare Company, General Mills, Inc. (NYSE:GIS), and The J.M. Smucker Company (NYSE:SJM) are included in our list of 15 biggest pet food companies in the world.
14. BARK, Inc. (NYSE:BARK)
2021 annual revenue: $378 million
Since its establishment in 2011, BARK, Inc. (NYSE:BARK) has been developing dog products and has served over six million dogs to date. The company's operations are divided into four categories: play, food, health, and home. All of the company's products are sold under the BARK brand. The company sells its products through its retail partners and recently signed new retail partners, which will increase the company's reach to over 40,000 doors in fiscal 2023. BARK, Inc. (NYSE:BARK) posted revenue of $378 million in the fiscal year 2021.
BARK, Inc. (NYSE:BARK) recently announced its second quarter result for fiscal 2023.
13. Freshpet, Inc. (NASDAQ:FRPT)
2021 annual revenue: $425 million
Freshpet, Inc. (NASDAQ:FRPT) is an American manufacturer of pet foods. The company makes cat and dog foods and sells them throughout North America. Freshpet, Inc. (NASDAQ:FRPT) targets the average middle-class consumer to appeal to a wider demographic and prices its products accordingly. The company had a household penetration of 4 million in North America as of 2021. Freshpet, Inc. (NASDAQ:FRPT) revenue for 2021 was reported at $425 million, up from $318.8 million in 2020.
Wasatch Small Cap Growth Fund, in its Q4 2021 investor letter, mentioned Freshpet, Inc. (NASDAQ: FRPT) and discussed its stance on the firm. Here is what the fund said:
The greatest detractor from Fund performance for the fourth quarter was Freshpet, Inc. (FRPT). The company is the undisputed leader in refrigerated pet food, which we consider a "growth staple." People seem willing to prioritize the health of their pets under almost any circumstances. Having said that, the stock was down because the company lowered projections for sales and earnings due to rising costs and shortages of labor and materials. Supply-chain challenges have also disrupted Freshpet's ability to expand manufacturing capacity and get food into stores. Marketing activities have been curtailed because the company is having trouble meeting existing demand. We take some comfort in the fact that Freshpet's difficulties are supply-related rather than demandrelated. Over time, we believe that supply-chain challenges will be resolved and that Freshpet will resume its growth trajectory. In terms of competition, there are some smaller players that are trying to challenge Freshpet's dominant brand name and footprint in stores. But we think those smaller players are even more vulnerable to today's supplychain challenges. In fact, the current difficult environment may actually strengthen Freshpet's competitive position and help make the company even more dominant over time. Additionally, we think Freshpet's pricing power and margins will improve substantially as the company becomes larger.
12. Sunshine Mills
2021 annual revenue: $420 million
Headquartered in Red Bay, Alabama, Sunshine Mills manufactures and markets pet foods under various Sunshine brands and other private labels. The company's products are sold through most big retailers across the United States. The company divides its products into three categories: Gold, Silver, and Bronze. Sunshine Mills posted revenue of $420 million in 2021.
11. Tiernahrung Deuerer GmbH
2021 annual revenue: $750 million
Tiernahrung Deuerer GmbH is Europe's top dog and cat food manufacturer. The company sells standard meat and vegetable snacks in various packaging options, including tins, aluminum trays, multipacks, and pouches. The company has a deep focus on maintaining the quality of its products, and around 25 employees ensure the quality requirements in the production process around the clock. Tiernahrung Deuerer GmbH’s sales during 2021 stood at $750 million.
10. Blue Buffalo Pet Products Inc (NASDAQ:BUFF)
2021 annual revenue: $870 million
Based in Wilton, Connecticut, Blue Buffalo Pet Products Inc (NASDAQ:BUFF) is a producer and marketer of all-natural dog and cat food. The company is the leader in the wholesome natural pet products market category. The company sells its goods through the leading pet specialty chains, including PetSmart, Petco, and Pet Supplies Plus, as well as over 10,000 neighborhood stores around the country. Blue Buffalo Pet Products Inc (NASDAQ:BUFF) revenue stood at $870 million in 2021.
9. Agrolimen SA
2021 annual revenue: $753 million
Agrolimen SA is a Spanish company whose subsidiary Affinity Petcare is a leading European dog and cat food provider. Agrolimen SA also owns Nature's Variety, a US-based raw food company, and has a joint venture with Natures Menu, a British raw food maker. Western Europe and North America account for most of the company's sales. Agrolimen SA posted a revenue of $753 million in 2021.
8. Diamond Pet Foods
2021 annual revenue: $1.50 billion
Founded in 1970, Diamond Pet Foods is the USA's leading pet food manufacturer. The company has its headquarters in Meta, Missouri, and possesses a comprehensive line of patented and private-label products produced in six state-of-the-art facilities around the country. Diamond Pet Foods products are available in over 100 countries, and the company's sales in 2021 stood at $1.5 billion.
7. Hill's Pet Nutrition
2021 annual revenue: $2.20 billion
Hill's Pet Nutrition is a leading supplier of specialty pet nutrition products for dogs and cats. The company's products are sold in over 80 countries. Hill's Pet Nutrition primarily markets pet foods under three brands: Hill's Science Diet, which includes products for everyday nutritional needs; Hill's Prescription Diet, which includes products to help dogs and cats manage disease nutritionally; and Hill's Ideal Balance, which provides for products with natural ingredients. The company's revenue in 2021 was reported at $2.20 billion.
6. Central Garden & Pet Company (NASDAQ:CENT)
2021 annual revenue: $3.30 billion
Central Garden & Pet Company (NASDAQ:CENT) manufactures and distributes pet supplies and various lawn and garden items in the United States. Central Garden & Pet Company (NASDAQ:CENT)'s main pet food segment includes dog and cat supplies, dog treats and chews, aquatics and reptile supplies, small animal and pet bird supplies, animal health items, and live fish and small animals. Central Garden & Pet Company (NASDAQ:CENT)'s sales during fiscal 2021 stood at $3.30 billion.
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Disclosure: None. 15 Biggest Pet Food Companies in the World is originally published on Insider Monkey.