Pet Food Market 2030: Europe’s Organic Pet Chow Charge

Pet Food Market Summary

The global pet food market was valued at USD 103.3 billion in 2023 and is expected to reach USD 139.29 billion by 2030, expanding at a CAGR of 4.4% from 2024 to 2030. Market growth is primarily supported by the rising adoption of companion animals worldwide and increasing consumer focus on pet health and well-being. As pets are increasingly regarded as family members, owners are becoming more attentive to nutrition, fueling demand for high-quality and functional pet food products.

Improved digestion, enhanced physical performance, and overall better health outcomes associated with nutritious pet food are key factors encouraging product adoption. While pet food offerings across the global market often display limited differentiation, manufacturers are responding by incorporating innovative and multifunctional ingredients to stand out in a competitive landscape. Convenience has also emerged as a critical growth driver, as prepared and ready-to-serve pet food products continue to gain popularity among busy consumers.

The organic pet food segment represents a relatively new yet rapidly expanding trend within the market. Increased availability of organic pet food in a wide range of flavors, along with the inclusion of beneficial ingredients such as probiotics and antioxidants, is contributing positively to overall market growth. However, the higher cost associated with organic products may restrict adoption in price-sensitive households, potentially limiting penetration of this segment in certain regions.

The pet food market value chain includes raw material suppliers, manufacturers, distributors, and end users. Key raw materials used in production consist of meat and meat byproducts, cereals, grains, specialty animal-derived proteins, palatants, flavors, sweeteners, vitamins, minerals, and enzymes. Manufacturers formulate pet food products in accordance with established nutritional standards for domesticated animals. Meat-based ingredients undergo processing and rendering to separate protein, fat, and water components, followed by grinding, cooking, and blending with other essential ingredients to produce final formulations.

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Key Market Trends & Insights

• North America led the global market with a revenue share of 42.87% in 2023.
• The U.S. dominated the North American pet food market in 2023.
• The dog segment held a revenue share of more than 42.1% in 2023.
• Dry cat food is expected to register the fastest growth rate over the forecast period.

Market Size & Forecast

• 2023 Market Size: USD 103.3 Billion
• 2030 Projected Market Size: USD 139.29 Billion
• CAGR (2024–2030): 4.4%
• North America: Largest market in 2023

Key Companies & Market Share Insights

The competitive landscape of the pet food market is moderately consolidated, with major multinational players catering to large customer bases and high-volume demand. Market participants are actively adopting advanced marketing strategies and leveraging modern technologies to enhance brand presence and revenue generation. Strategic initiatives such as expansions, mergers, and acquisitions remain central to strengthening market positions.

For instance, in January 2022, Manna Pro acquired Oxbow Animal Health, a premium small-animal pet food and supplement brand. Additionally, in September 2023, Superlatus, Inc. merged with TRxADE HEALTH, Inc. and announced its entry into the pet food segment with plant-based and vegan pet food treats. Industry players are also making significant investments in research and development to improve production processes and introduce innovative formulations using specialized ingredients, while ensuring compliance with domestic and international regulatory standards.

Key Pet Food Companies

• The J.M. Smucker Company
• Nestlé Purina
• Mars, Incorporated
• LUPUS Alimentos
• Total Alimentos
• Hill’s Pet Nutrition, Inc.
• General Mills Inc.
• WellPet LLC
• The Hartz Mountain Corporation

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Conclusion

The global pet food market is set to experience steady growth through 2030, driven by rising pet ownership, increasing health awareness among pet owners, and the growing preference for convenient and nutritionally balanced food products. Innovation in ingredients, expansion of organic and functional offerings, and strategic investments by leading manufacturers are shaping the market’s evolution. While price sensitivity may limit adoption of premium segments in certain regions, continued product diversification and technological advancements are expected to support sustained market expansion in the coming years.