Latest Top Trends in Pet Food Market- Let’s See!

Latest Top Trends in Pet Food Market- Let’s See!


Oct 10, 2023

Blog Food and Beverage Latest Top Trends in Pet Food Market- Let’s See!

In today's fast-paced world, our furry friends have become an integral part of our lives. They bring joy, companionship, and unconditional love. They hold a special place in our hearts, becoming cherished members of our families. So, as a responsible pet owner, people are increasingly prioritizing the health and well-being of their furry companions. This shift in mindset has led to significant growth in the pet food market, as consumers seek high-quality, nutritious, and specialized products for their pets. Overall, the global pet food market is a rapidly growing industry, seeing remarkable growth in recent years, and this trend is expected to continue, due to rising pet ownership, impacts of COVID-19, urbanization, busy lifestyles, and awareness of pet health. BCC Research analyzes the current pet food market and predicts the market's future direction, based on the many factors like economic conditions, consumer preferences, and awareness, that impact the pet food market size and pet food ingredients market. The global market for pet food is expected to grow at a compound annual growth rate (CAGR) of 5.1% to reach $145.3 billion by 2028. 

The pet food market has witnessed significant innovation over the years, catering to the diverse dietary needs of our beloved pets. Pet owners are increasingly concerned about the health of their pets. They demand natural and healthy ingredients in pet food. Pet owners avoid artificial additives and flavors foods for their pets like humans. They prefer natural pet food ingredients for their furry friends, including a high-quality protein source like chicken, fish, and lamb, with a rising interest in plant-based protein and insect protein. There are a few leading companies in the pet food industry that really stick out:

Pet Food Market

The global pet food market should reach $145.3 billion by 2028 from $113.1 billion in 2023 at a compound annual growth rate (CAGR) of 5.1% for the forecast period of 2023 to 2028.

1.    Mars Petcare Inc. is one of the largest and leading manufacturing companies in the pet care industry. It was established as a division of Mars, Incorporated, in 1935. In 2022, its products held a 17% market share in the U.S. market.

2.    Nestlé Purina Petcare or simply Purina, is an American subsidiary of the Swiss corporation Nestle, located in St. Louis, Missouri. It is a subsidiary of Nestlé S.A., specializing in producing and marketing pet food, treats, and pet care products for dogs, cats, and other small animals. Already a leader in the U.S. market, Purina also operates pet food factories in 19 countries, reporting strong organic growth in its pet care products in 2022. 

3.    Hill's Pet Nutrition sells more than 300 products, through authorized pet supply retailers and veterinarians in more than 80 countries worldwide, with a revenue of over $2B. Hill's operates major manufacturing and warehousing facilities in Bowling Green, Kentucky; Topeka, Kansas; Emporia, Kansas; and Richmond, Indiana, USA. 

4.    Diamond Pet Foods is a company that specializes in manufacturing and distributing pet food products for dogs, cats, and birds. They are known for producing a variety of pet food brands, including Diamond, Diamond Naturals, Diamond Care, and Nutra-Nuggets. The company was founded in 1970 and has since grown to become one of the leading manufacturers of pet food in the United States.

5.    Simmons Pet Food is a leading North American private-label and contract manufacturer of wet pet food. It was founded in 1949. It sources high-quality ingredients and uses state-of-the-art manufacturing processes to produce premium and value-focused pet food.
With Whole Foods being a healthy food store that sells dog food, dog owners typically ask, “is Whole Foods market pet-friendly?”. Unfortunately, Whole Foods does not allow animals in its stores, but service animals are always welcome. 

The pet food market is experiencing unprecedented growth and transformation driven by changing consumer preferences and values. Pet owners want the best food for their pets and this market is dynamic in nature. Pet food markets vary from region to region based on their demands and likes or dislikes, so BCC Research reports include an analysis on the pet food market with a five-year forecast to help to make the correct decision for business.

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    Heena Singh

    Written By Heena Singh

    Heena Singh is a Senior Executive Email Marketer at BCC Research, with a master’s degree in computer applications. She specializes in content creation and data analytics.

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