Pet Food Market Size, Share, Future Growth, Opportunities 2024-2032 | Mars Incorporated, Nestle S.A., The J.M. Smucker Company

𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰
The global pet food market size was valued at USD 120.87 billion in 2023. The market 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.
The pet food products are available in different forms in the market, including wet, dry, and snack treats. The food products for pets, including cats, dogs, and others, can be plant-based and animal-based. The increasing pet population globally is anticipated to drive market growth during the forecast period.
Fortune Business Insights™ mentions this in a report titled, "Pet Food Market Size, Share, 2024-2032".

𝐆𝐞𝐭 𝐀 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐃𝐅:
https://www.fortunebusinessinsights.com/enquiry/sample/pet-food-market-100554

The objective of the market research report on the pet food market is to deliver a comprehensive analysis of the market, featuring insightful observations, statistics, historical data, and industry-validated insights. It also aims to deliver forecasts grounded in reliable assumptions and methodologies. This study enhances the understanding of global pet food market dynamics and structure by segmenting and analyzing various market sectors while estimating the overall market size and share.

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐏𝐫𝐞𝐬𝐞𝐧𝐭 𝐢𝐧 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
• Mars Incorporated (U.S.)
• Nestle S.A. (Switzerland)
• The J.M. Smucker Company (U.S.)
• Colgate-Palmolive Company (U.S.)
• General Mills, Inc. (U.S.)
• Diamond Pet Foods (U.S.)
• Heristo AG (Germany)
• Tiernahrung Deuerer GmbH (Germany)
• Merrick Pet Care, Inc. (U.S.)
• WellPet LLC (U.S.)

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬:
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.

𝐆𝐞𝐭 𝐚 𝐐𝐮𝐨𝐭𝐞:
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/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 growing trend of pet humanization has significantly increased the demand for premium pet food, as more people are willing to invest in high-quality, nutritious products for their pets. This shift is driving the expansion of the pet food market, particularly as millennial pet ownership rises worldwide. However, intensifying competition among products and the availability of lower-priced options in developing markets could hinder overall market growth.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬
Large Adoption of Pet Humanization in the U.S. Propels Market Growth in North America
North America dominates the pet food market and is expected to see continued growth during the forecast period. This growth is driven by the widespread adoption of pet humanization, which boosts the demand for natural and nutritious pet food products. Meanwhile, the Asia Pacific region is experiencing some of the fastest growth in the market, fueled by a rapid rise in pet ownership across developing countries such as South Korea, China, India, Japan, and others.

𝐀𝐬𝐤 𝐅𝐨𝐫 𝐓𝐡𝐞 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/pet-food-market-100554

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:
Growing Adoption of Mergers and Acquisitions Strategies to Propel Market Growth
The market features prominent players like Colgate-Palmolive, Nestle Purina Petcare, and others. These leading companies are driving market growth through strategies such as brand strengthening, innovative product launches, expanding online distribution channels, and engaging in mergers and acquisitions.

𝐊𝐞𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭:
November 2023 - A well-known Czech pet food producer, Vafo Group, announced the introduction of its new brand, Planet Pet Society. With Planet Pet Society, the company seeks to expand its operations in the sustainable dog and cat food market.

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
Pet Food Packaging Market: https://www.fortunebusinessinsights.com/pet-food-packaging-market-108345
Pet Food Processing Market: https://www.fortunebusinessinsights.com/pet-food-processing-market-104370
Pet Care Market: https://www.fortunebusinessinsights.com/pet-care-market-104749

Contact Us:
Fortune Business Insights™ Pvt. Ltd.
9th Floor, Icon Tower,
Baner, Pune-411045,
Maharashtra, India.
Phone:
U.S.: US +1 833 909 2966 (Toll Free)
UK +44 808 502 0280 (Toll Free)
APAC +91 744 740 1245
Email: mailto:sales@fortunebusinessinsights.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

This release was published on openPR.