Do you own a pet?

 Then we are sure you spend a huge lot on ensuring that your pet stays full, healthy with only the best brands.

The pet food industry is one that leaves your mouth agape, while most people, in and out of the industry know that this industry is big, you might be surprised how much this sector of the pet industry is worth.

The global pet food industry is projected to hit revenues of 128.4 billion US dollars by 2022 with a CAGR of 4.5 percent within this period. This is a huge turnaround from the 68 billion Dollars registered in 2016 and $98.3 billion in 2018.

The growth in the pet food industry is driven by lots of factors, some mostly human (pet owner related), attention to pet health and likes, awareness of the rising trend in pet choices, increase option for better and healthier pet food choices, pet treats and pet food that affect the growth and overall appearance and look of pets.

Want to grow and scale your Pet Food Business ?? Then you need to apply right targeted strategies which can bring a lot of Pet owners as your customers!! Click here to know more!

The Pet Food Industry Statistics over the years

 

The table speaks for themselves, the choice of whether to invest or not is yours to make.

Pet Food

Pet food refers to any plant and animal materials constituted with other ingredients to create something palatable that suits the animal of choice – cat, dog, or fish. These pet foods are manufactured to provide a specific requirement to the pet.

The revolution of pet foods came to be as more families chose pets as their companions and needed food options that will suit them and how they behaved (humanization). This change has greatly influenced how the pet food industry has grown and is still growing until date.

Overview – Growth and Size of the Pet Food Market

The global food market is expecting 107 billion dollar revenue by 2024 that is a growth of 4.8 percent from 2017. 

The Different Players in the Per Food Industry Market

The US Pet Food Market

The US Pet Food Sales Chart

The US pet industry is unquestionably the biggest market in the world, so it will be equally fair for them to claim a larger portion of the pet food market with over 87 million dogs and 76 million cats and other pets – fish, bird, and mammals. It is obvious to see why sales in the US keep going up.

The US pet food market worth over 24 billion dollars is expected to hit $30 billion by 2022. The drivers in the US pet food industry is due to

• The expansion of the food market in newer frontiers is to cater to luxury pets, mixed breeds, or their lifestyle.
• The demand by pet owners for improved pet foods like organic, more natural based, low carbs high protein, transparent labeling, health-oriented food, greener option, and human-like food
• Newer, and fresher idea infiltrate the market, creating more pet food options using ingredients that aren’t animal-based, free of additives, food colors, preservatives, and non-GMO. 
• The competitive edge that the market affords the major and minor players of the industry

Overall, the US pet food market’s ability to satisfy the demands and needs of the pet owner makes this market one of the most viable in the world.  Critical analysis of major manufacturers to build a transparent customer-oriented market also gives it an edge over other countries in the world.

Such careful attention to details and customer wants/needs makes the US a giant and leader in the pet food industry and also the most pet-friendly nation in the world.

The UK/Europe Pet Food Market

The European pet food market follows closely behind the US, valued at $26.78 billion in 2018; the pet food market is expected to witness a 4.77 percent growth in 2019 – 2024 with expected revenue of 28.5 billion USD in 2022.

Unlike the US pet food market, different countries contribute their quota in a different area to industry depending on the pet food requirements in their respective industries.

Over the years, the growing number of pets and pet owners is the biggest driver to the growth experienced in the pet food industry. Furthermore, as the demands keep rising, the industry is adapting to the trends and satisfying customers’ needs.

The UK

The UK is the biggest pet food market in Europe and with revenue of 4.8 billion US dollars in 2017; this industry is expected to experience an annual growth rate of 2.6 percent to the tune of 5.3 billion US dollar by 2022.

Some trends that are moving the pet food market in the UK are fresh food delivery for pets as recommended by the pet owner.

The Asia Pacific Pet Food Industry

The third-largest pet food market in the Asia Pacific; the market growth influenced the overall pet food industry globally. The pet food market in the Asia Pacific grew by a whopping 13 percent with countries like China, Singapore, India, Australia, Japan and the rest of the Asia Pacific contributing to its growth.

With a projected growth of 3.09 percent forecasted for 2018 – 2026, the growing awareness of pet, pet treatment, cleaner food option and an increase in pet owners are trends driving the pet food industry in this region.

Pet Food trends driving the Industry

Pet foods are categorized according to the type of ingredients or the kind of pets; certain trends have driven the manufacturing process and the sales quantity.

The Pet Food Industry

With almost over 900 million dogs in the world, the dog food industry takes the reins as the one driving of the pet food industry. Although most are free-range dogs, dog pets are still a favorite among pet owners in the world. Dog ownership is the leading reason why the pet food industry is booming.

Some trends that have influenced the pet food industry for dogs are pet owner want natural nutrients and premium quality food, urbanization, humanization, premiumization, and new dog food markets.

This has not only shot the sales through the roof but also modified the market bridging the gap between consumer choice and manufacturer’s ability to deliver pet food that is closely related to what human eat.

The global pet care industry 2018 clock in a whopping $125 billion and pet food contributed 73 percent of this figure at just over $91 billion with a 6 percent annual growth.

 

The market is huge; it can’t be ignored anymore, trends moving the market.

The Specialty Pet Food Market

Premium and Super-Premium Pet Food

With an ever-growing pet ownership group, pet owners are now seeking better, healthier options filled with balanced nutritional ingredients for their beloved four-legged friends. The continued success of this industry is due to human options and choices.

This sector of the pet food industry even though under close scrutiny is the largest in the global pet food market with sales continuing to go up annually.

Trends under watch are

Freeze-dried Pet food

This sector of the industry grows by 63 percent in 2015 with new products littering supermarket shelf twice as much as it did in 2014. This type of pet food caters for pet owners looking for a more natural, customize, and high-end nutrients option for their pets. 

With the increasing use of technology in pet food, pet food companies can extract the moisture from this food to keep them fresh for longer without tampering with the quality of the nutrients in them.

How does this affect the market?

The pet freeze-dried food market has been on a steady rise since 2014, raking in $120 millions to $195.5 million in 2015 and expected to hit 200 million in 2016.

North America takes the highest with a market revenue share of almost 67 percent 2016, followed closely by Europe, the Asia Pacific and South America.

Clean Label Market

A clearly dominant force in the market, the clean label moved by pet owner’s options for their pet food is playing a crucial part in how pet foods are now manufactured. Pet owners want more transparency; they want to know what goes into their pet food, how it is produced, and the source of ingredient and how it is portioned, packaged and preserved.

While this seems like a tedious task, the market is gaining ground as brands looking o retain a portion of the market are shifting gears to satisfy consumers with their demands.

 

Pet Treats

A very good contender with pet food, the pet treat market is another dominate food segment recording huge sale in 2018 to the rune of 35 billion US dollars and has continued to experience a healthy growth rate since consumers/pet owners demands hit the market.

The pet treat market has grown by 5 percent since 2013 with cat treats taking the lead over dogs treat.

In 2018, the Asia Pacific region saw a shift in treat sales to the tune of 23 percent in 2013 – 2018 even with the sales dropping in other parts of the world.

Pet Home Food Delivery Service

You didn’t think only humans could place food orders now, did you?  A new trend that is gaining grounds in the pet food industry is the pet home food delivery service. Several companies have taken up the task to deliver customized made pet food to pet owners who demand it.

The services offer pet owners freshly prepared pet food, full of nutrients, and made to human standard. Several brands making waves in this industry are JustFoodForDogs, PetPlate, and others who have an increasing consumer number.

Performance Food

Performance animals now have their own version of a protein bar too, such pet foods avoid the use of ingredients or mix that pet owners consider risky or do nothing to the health of their pets.

Such foods are targeted at improving the stamina, endurance, and athletic performance of the pet. Pet performance foods contain high meat proteins, wholesome nutrients, and vitamins to boost the pet’s performance. A very good example is Out Bar for dogs.

DO-IT-YOURSELF Pet Food

You heard right.  Pet parents are known to add a bit of human food to their pet food to enhance the taste and boost the nutritional level of the food.

The need to prepare your own pet food has seen pet food markers offering products that pet parents can easily complete on their own to feed their pets. This allows pets to eat exactly what the owner’s wants in the proportions of their choosing.

Preventive Pet Food

As more pets become humanized, and feed on food that is for humans, there is an increase in diseases like obesity, arthritis, and other human conditions affecting pets too.

And with food playing a major role in helping humans lead a healthy life, pet parents also believe that a diet change can also make their pet healthier, youthful, full of energy, and stronger.

Products like dental chew help in cleaning pet’s teeth, and cannabidiol boost wellness in pets.

Natural Pet Food

This can also be classified under clean-label food, pet food under this category is wholly natural, organic, plant-based, whole grains and raw foods are employed in pet food that helps manage chronic health conditions in pets.

Final Overview – Global Pet Food Market

Trends will come [old trend will be modified], but the pet market will continue to be swayed by the choices and demands of pet parents.

Although North America holds the position as the number one booming market for all things pet foods, a strong pet market is the Asia-pacific with a projected revenue target of 4 billion US dollar by 2023 compared to the rest of the world.

Pet food industry in Europe has seen markets in Germany gradually become one of the major global exporters of cat food in the world. Latin America and the Middle East are trailing behind but have their impact on the global industry at large.

Finally, consumer demand for safer and cleaner food options are the main driver in the pet food market. As the gap between humans and pet become narrower, pet foods and treat are getting driving stiff competition in the market where only brands that can satisfy consumers (pets) and their parents survive the tide.

Overall, the pet food industry statistics shows how bright the industry presently is and how it will be in the future too.

Want to grow and scale your Pet Food Business ?? Then you need to apply right targeted strategies which can bring a lot of Pet owners as your customers!! Click here to know more!