Pet food market seen reaching $133.4B by 2030

Allied Market Research projects the global pet food market will grow from $87.3 billion in 2020 to $133.4 billion by 2030, driven by steady demand across dog, dry food and specialized pet shop channels. North America remains the largest region, while Asia-Pacific is expected to post the fastest regional growth.

Why it matters: - The global pet food market is on track to add more than $46 billion in annual value by 2030. - Growth is spread across product types, sales channels and regions, which gives manufacturers multiple ways to expand. - The forecast points to continued consumer spending on pet nutrition, especially in dry food and dog food.

What happened: - Allied Market Research said the global pet food market was valued at $87,268.2 million in 2020. - The market is estimated to reach $133,430.9 million by 2030. - The report projects a compound annual growth rate of 4.6% from 2021 to 2030. - The study covers pet type, food type, sales channel and region. - Request the sample PDF - Submit a purchase inquiry

The details: - Dogs were the largest pet segment in 2020, with more than two-fifths of the global market. - Dogs are projected to remain the leading pet type through 2030. - Dogs are also expected to post the fastest CAGR among pet types at 4.7% from 2021 to 2030. - Cats and other pet categories are included in the report. - Dry food accounted for around one-third of the market in 2020. - Dry food is expected to keep the largest share through 2030. - Dry food is projected to grow at the fastest rate among food types, with a 5.3% CAGR. - Wet food, treats and snacks, and other formats are also covered. - Specialized pet shops held more than one-third of global sales in 2020. - Specialized pet shops are expected to remain the top sales channel through 2030. - Specialized pet shops are projected to grow at a 5.1% CAGR. - Online sales and other channels are part of the analysis. - North America was the largest regional market in 2020, with more than one-third of global share. - North America is expected to stay the largest region through the forecast period. - Asia-Pacific is projected to post a 5.1% CAGR from 2021 to 2030. - Europe and LAMEA are also included in the regional breakdown. - Key companies profiled include Big Heart Pet Brands, Nestle Purina PetCare, Diamond Pet Foods, Mars Petcare Inc., The Hartz Mountain Corporation, Hill’s Pet Nutrition, Deuerer, WellPet, Blue Buffalo and Heristo AG. - The report says these companies are using collaborations, expansion, joint ventures, agreements and new product launches to defend and grow share.

Between the lines: - The strongest growth is concentrated in the most established parts of the market, which suggests scale players still have the advantage. - The data also points to a channel shift that is not fully replacing store-based sales, since specialized pet shops remain dominant while online sales are growing. - Regional growth outside North America appears to be led by Asia-Pacific, signaling room for geographic diversification.

What’s next: - The report says market players will likely keep targeting sub-segments with the highest growth rates. - Competitive pressure is likely to stay centered on product launches, partnerships and channel expansion. - Future gains will likely depend on how well brands balance premiumization, retail reach and regional expansion.

The bottom line: - Pet food remains a steady growth market, with dogs, dry food and specialized pet shops still setting the pace.