Pet Food - Worldwide

Worldwide

Revenue in the Pet Food market amounts to US$151.10bn in 2024. The market is expected to grow annually by 5.26% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$59,740m in 2024).
In relation to total population figures, per person revenues of US$19.50 are generated in 2024.
In the Pet Food market, volume is expected to amount to 60.80bn kg by 2029. The Pet Food market is expected to show a volume growth of 2.5% in 2025.
The average volume per person in the Pet Food market is expected to amount to 6.8kg in 2024.

Key regions: Russia, Spain, Philippines, United Kingdom, India

Market

Region

Region comparison

Currency

Analyst Opinion

The global Pet Food segment has experienced significant growth in recent years, with the COVID-19 pandemic having a particular impact on consumer spending. Retail sales are expected to continue growing steadily over the next couple of years. Drivers of this segment include demographic changes, the increase in the number of single-person households, and the significant increase in disposable income. “Pet humanization” is another crucial driver that inclines pet owners to spend more money on pet food.

With regard to segment trends, premium quality products, natural ingredients, and superfoods, such as chia and kale, are currently very sought after among consumers. Furthermore, demand for “clean label” products has increased, with consumers looking to avoid unwanted ingredients, such as heavy metals and contaminants, that are often included in pet foods. Aside from its increasing popularity due to the sustainability movement, alternative protein-based pet food products have become more widespread because they are beneficial for pets with animal protein allergies.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.