The global pet food market was valued at approximately USD 103.3 billion in 2023 and is projected to reach USD 139.29 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2030. This growth is primarily driven by increasing pet adoption, rising consumer awareness about pet health, and a growing trend of pet humanization, where pets are treated as family members.

Key Market Trends & Insights

• Premiumization and Health-Conscious Products: Consumers are increasingly seeking high-quality, nutritious, and functional pet foods. This trend includes products with added benefits like probiotics, antioxidants, and organic ingredients. The demand for premium pet food is expected to continue rising as pet owners become more health-conscious about their pets' diets.
• Shift Towards Natural and Raw Diets: There is a growing preference for natural and raw pet foods, such as Biologically Appropriate Raw Food (BARF) diets. These products are perceived to be closer to a pet's natural diet and are gaining popularity among pet owners who prioritize natural ingredients and minimal processing.
• E-commerce Growth: Online sales of pet food are expanding rapidly, driven by the convenience of home delivery and a wide range of product options. E-commerce platforms are becoming significant channels for pet food distribution, especially among younger, tech-savvy consumers.
• Sustainability and Clean Label Trends: Consumers are increasingly interested in sustainable and ethically sourced pet food products. Clean label products, which have transparent ingredient lists and minimal additives, are becoming more popular as pet owners seek to make informed choices about their pets' nutrition.

Market Size & Forecast

• The global pet food market is expected to continue its growth trajectory. According to various industry reports:
• The market size is projected to grow from USD 132.92 billion in 2025 to USD 193.65 billion by 2032, at a CAGR of 5.52% during the forecast period.
• Another estimate suggests the market will reach USD 237.376 billion by 2030, growing from USD 157.873 billion in 2025, at a CAGR of 8.48%.
• A more conservative projection indicates the market will expand from USD 128.21 billion in 2024 to USD 185.54 billion by 2030, at a CAGR of 6.35%.

These varying projections highlight the dynamic nature of the pet food industry and the factors influencing its growth.

Order a free sample PDF of the Pet Food Market Intelligence Study, published by Grand View Research.

Key Companies & Market Share Insights

Several major players dominate the global pet food market:

• Mars Petcare: A leading company with a diverse portfolio of pet food brands, including Pedigree, Whiskas, and Royal Canin.
• Nestlé Purina Petcare: Known for brands like Purina and Friskies, Nestlé Purina is a significant player in the pet food industry.
• Hill's Pet Nutrition: Specializes in science-based nutrition and is known for its Hill's Science Diet and Hill's Prescription Diet products.
• General Mills: Through its Blue Buffalo brand, General Mills has a strong presence in the natural pet food segment.
• Colgate-Palmolive: Owns the Hill's Pet Nutrition division, contributing to its significant share in the pet food market.

These companies hold substantial market shares and continue to innovate to meet the evolving demands of pet owners.

Key Companies List

• Mars Petcare: Offers a wide range of pet food products across various price points and dietary needs.
• Nestlé Purina Petcare: Focuses on providing balanced nutrition and has a strong global presence.
• Hill's Pet Nutrition: Emphasizes science-based nutrition and has a loyal customer base.
• General Mills (Blue Buffalo): Targets the natural and holistic pet food market.
• Colgate-Palmolive (Hill's Pet Nutrition): Combines pet care with its broader consumer goods portfolio.

Conclusion

The pet food industry is experiencing significant growth, driven by trends such as premiumization, health-conscious products, and the shift towards natural diets. E-commerce and sustainability are also playing crucial roles in shaping the market's future. Major companies are adapting to these trends by diversifying their product offerings and focusing on innovation. As pet owners become more invested in their pets' health and well-being, the demand for high-quality, nutritious pet food is expected to continue its upward trajectory, presenting opportunities for both established and emerging players in the industry.

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.