Pet Food Market Valuation to Reach USD 150.06 Billion by 2035 With a CAGR of 3.07%, Supported by Rising Pet Humanization Trends

According to MRFR analysis, the global pet food market was valued at USD 107.6 billion in 2024 and is expected to reach USD 150.06 billion by 2035. The industry will grow steadily at a compound annual growth rate (CAGR) of 3.07% during the forecast period from 2025 to 2035. The growth of this market is strongly influenced by rising pet ownership, the trend of pet humanization, increasing demand for premium and organic pet nutrition products, and expanding distribution through online platforms. As consumers shift toward high-quality and specialized nutritional products for pets, the market continues to transform from mass-produced offerings to personalized dietary solutions.

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Market Overview

The global pet food market has evolved significantly in the last decade. Earlier, pet food demand was mainly driven by essential nutrition; however, with rising disposable incomes and changing lifestyles, pets are now considered family members, creating greater demand for premium and functional food products. The shift toward healthier lifestyles among pet owners is also influencing their purchasing behaviors when selecting food for their pets. Pet owners are increasingly seeking high-quality, sustainable, grain-free, and protein-rich formulations, as well as products addressing specific needs such as digestion, skin and coat care, immunity support, and age-based nutrition.

Growing urbanization, particularly in emerging economies, continues to boost demand as pet adoption rises among millennial households. Additionally, e-commerce growth has made premium and specialized products more accessible, accelerating global sales. Product innovation remains a key growth driver, with companies introducing plant-based pet food, veterinary diet formulations, freeze-dried raw food options, and functional snacks enriched with vitamins and supplements.

Key Players

The competitive landscape of the pet food market is dominated by multinational companies while also witnessing rapid entry of startups offering organic, sustainable, or customized nutritional products. Major market players include Mars Inc., Nestlé Purina PetCare, Hill's Pet Nutrition, Blue Buffalo (General Mills), and Diamond Pet Foods. These leading companies continue to expand through aggressive marketing strategies, continuous product innovation, and acquisitions aimed at strengthening their portfolio in premium and specialty pet segments. Investments in research and development are increasing as companies focus on tailoring foods for specific breeds, life stages, and health conditions.

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Driving Factors and Emerging Trends

A primary factor fueling the pet food market growth is the rapid rise in pet humanization. Pets are increasingly perceived as companions rather than animals, leading to higher spending per household. Another significant driver is the global increase in animal health awareness; consumers now prefer foods offering long-term health benefits and scientifically backed nutrition.

The demand for organic, clean-label, and sustainably sourced ingredients is another evolving trend, reflecting broader environmental and ethical consumption patterns. Sustainability initiatives include recyclable packaging, alternative protein sources such as insects and plant proteins, and transparency in ingredient sourcing.

Technological advancement also plays an important role. Digital monitoring solutions such as smart feeders and health-tracking devices influence food category progress, enabling customized nutrition programs. Personalized subscription-based pet food services have gained momentum, especially in developed markets.

Segment Analysis

Dog food represents the largest segment in the global market, driven by a substantial rise in dog ownership and preference for premium kibbles and treats. Cat food follows as the second largest category, with wet and specialized diet formulations witnessing strong growth momentum. Treats and snacks have become one of the fastest-growing segments due to their use in training and bonding activities.

Based on product type, dry food dominates the market because of convenience, affordability, and longer shelf life. However, wet and raw food products are gaining popularity, particularly among consumers who prioritize freshness and natural ingredients. Veterinary diets also represent a strong growth niche due to the increasing prevalence of pet obesity, diabetes, allergies, and digestive disorders.

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Regional Analysis

North America currently leads the global pet food market, supported by high pet ownership rates, premiumization trends, and strong product availability across retail and online channels. Europe holds the second-largest share, driven by sustainability-focused purchasing behavior and rising preference for organic pet food.

Asia-Pacific is projected to exhibit the fastest growth during the forecast period. Rapid urbanization, rising incomes, increased exposure to Western pet care trends, and expanding retail infrastructure contribute to growth in countries such as China, India, and Japan. Latin America and the Middle East also demonstrate emerging growth opportunities, backed by improving economic conditions and rising awareness of pet wellness.

Industry Developments

Industry developments are largely focused on sustainability, innovation, and expansion of functional nutrition portfolios. Companies are investing in advanced food processing technologies to maintain ingredient quality and shelf stability while meeting clean-label regulations. Partnerships between veterinary professionals, food scientists, and technology providers are shaping the next generation of scientifically formulated pet diets. Additionally, acquisitions and mergers have increased as brands aim to strengthen regional penetration and diversify their product offerings across price tiers.

The future outlook for the global pet food market remains positive, with continued investments in product innovation, sustainability-driven strategies, and digital distribution expected to reshape the competitive landscape through 2035.

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