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Pet Food Market Size to Grow by USD 36.11 billion | Growing Demand for Organic Pet Food to Drive Growth | Technavio

·6 min read

NEW YORK, April 12, 2022 /PRNewswire/ -- The pet food market share is expected to increase by USD 36.11 billion from 2019 to 2024. Moreover, the growth momentum of the market will accelerate at a CAGR of 7% during the forecast period.

Technavio has announced its latest market research report titled Pet Food Market by Product, Distribution Channel, Type, and Geography - Forecast and Analysis 2020-2024
Technavio has announced its latest market research report titled Pet Food Market by Product, Distribution Channel, Type, and Geography - Forecast and Analysis 2020-2024

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Access our detailed 120-page report with exhibits on "Pet Food Market by Product and Geography - Forecast and Analysis 2020-2024". View Our Report Snapshot

Pet Food Market Driver:

The growing demand for organic pet food is driving the growth of the pet food market. Organic and natural food is becoming a popular choice among pet owners. The global market for organic pet food is growing at a high rate owing to the increasing focus on pet health and wellness, along with the pet humanization trend. Organic pet food has health benefits such as a reduction in skin allergies and ailments, fewer digestive disorders, and better overall health. Hence, many players operating in the global pet food market are launching and selling organic pet food varieties.

Major Five Pet Food Companies and their Offerings:

  • Colgate-Palmolive Co. - The company offers pet food for everyday nutrition, manufactured using all-natural ingredients and prescribed pet food for specific health conditions prepared by a team of veterinarians, nutritionists, food scientists, and sensory experts.

  • Mars Inc. - The company offers nutritious pet food that includes PEDIGREE, WHISKAS, and ROYAL CANIN.

  • Schell & Kampeter Inc. - The company provides premium pet foods for dogs and cats.

  • Spectrum Brands Holding Inc. - The company offers a wide range of pet food that includes bone chews, dental chews, rawhide-free dog treats, wet and dry pet food for dogs and cats, and food for small animals.

  • Thai Union Group Plc - The company sells a wide range of format and flavored pet food, manufactured and marketed under brand name Bellotta and Marvo.

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Pet Food Market Product Outlook (Revenue, USD bn, 2019-2024)

  • Dry food - size and forecast 2019-2024

  • Snacks and treats - size and forecast 2019-2024

  • Wet food - size and forecast 2019-2024

Pet Food Market Distribution channel Outlook (Revenue, USD bn, 2019-2024)

  • Supermarkets - size and forecast 2019-2024

  • Pet-specialty stores and vet clinics - size and forecast 2019-2024

  • Others - size and forecast 2019-2024

Pet Food Market Type Outlook (Revenue, USD bn, 2019-2024)

  • Dog food - size and forecast 2019-2024

  • Cat food - size and forecast 2019-2024

  • Other small pet food - size and forecast 2019-2024

Pet Food Market Geography Outlook (Revenue, USD bn, 2019-2024)

  • North America - size and forecast 2019-2024

  • Europe - size and forecast 2019-2024

  • APAC - size and forecast 2019-2024

  • South America - size and forecast 2019-2024

  • MEA - size and forecast 2019-2024

Do you want to learn about the contribution of each segment of the market? View an Exclusive Free Sample Report

Revenue-generating Product Segments:

The pet food market share growth by the dry food segment will be significant during the forecast period. The consumption of dry pet food is higher than that of wet pet food. Its associated benefits include easy storage and transportation, maintenance of oral hygiene in pets, and controlled intake of food.

Regional Analysis:

North America will account for 33% of the market's growth during the forecast period. The large interest in pet ownership in countries such as the US, Canada, and Mexico will drive the pet food market growth in North America during the forecast period.

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Pet Food Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 7%

Market growth 2020-2024

USD 36.11 billion

Market structure

Concentrated

YoY growth (%)

7.24

Regional analysis

APAC, Europe, MEA, North America, and South America

Performing market contribution

North America at 33%

Key consumer countries

China and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Blue Buffalo Co. Ltd., Colgate-Palmolive Co., Mars Inc. Nestlé SA, Schell & Kampeter Inc., Spectrum Brands Holding Inc., Thai Union Group Plc, The J.M. Smucker Co., Unicharm Corp., and WellPet LLC

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by Product

  • Market segments

  • Comparison by Product placement

  • Dry food - Market size and forecast 2019-2024

  • Snacks and treats - Market size and forecast 2019-2024

  • Wet food - Market size and forecast 2019-2024

  • Market opportunity by Product

Market Segmentation by Distribution channel

  • Market segments

  • Comparison by Distribution channel placement

  • Supermarkets - Market size and forecast 2019-2024

  • Pet-specialty stores and vet clinics - Market size and forecast 2019-2024

  • Others - Market size and forecast 2019-2024

  • Market opportunity by Distribution channel

Market Segmentation by Type

  • Market segments

  • Comparison by Type placement

  • Dog food - Market size and forecast 2019-2024

  • Cat food - Market size and forecast 2019-2024

  • Other small pet food - Market size and forecast 2019-2024

  • Market opportunity by Type

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • North America - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • APAC - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers

  • Volume driver - Demand led growth

  • Volume driver - Supply led growth

  • Volume driver - External factors

  • Volume driver - Demand shift in adjacent markets

  • Price driver - Inflation

  • Price driver - Shift from lower to higher priced units

  • Market challenges

  • Market trends

Vendor Landscape

  • Overview

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • Blue Buffalo Co. Ltd.

  • Colgate-Palmolive Co.

  • Mars Inc.

  • Nestlé SA

  • Schell & Kampeter Inc.

  • Spectrum Brands Holding Inc.

  • Thai Union Group Plc

  • The J.M. Smucker Co.

  • Unicharm Corp.

  • WellPet LLC

Appendix

  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)
Technavio (PRNewsfoto/Technavio)
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SOURCE Technavio