The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Fueling the Growth Engine
The animal and pet food market has witnessed a robust surge in size in recent years, poised to grow from $324.85 billion in 2023 to an estimated $352.18 billion in 2024, marking an impressive compound annual growth rate (CAGR) of 8.4%. This expansion in the historic period is attributed to various factors, including the increasing trend of pet ownership, a focus on animal health and well-being, the popularity of premium and specialty products, the efficiency of retail distribution, and the influence of vet recommendations.

Anticipated Growth Trajectory
The trajectory of growth is set to continue, with the animal and pet food market expected to reach $476.81 billion in 2028, showcasing a CAGR of 7.9%. The forecasted surge can be linked to the rise of health-conscious pet owners, a growing demand for sustainability and eco-friendly products, the emergence of customized and personalized diets, the advent of digital marketing and e-commerce, and the global expansion of the market. Noteworthy trends in this period include the prevalence of grain-free and limited ingredient diets, a shift towards protein-rich and meat-first formulations, the rise of natural and organic pet food, the exploration of alternative protein sources, and the development of functional and nutrient-enriched products.

Rising Pet Adoption Rates Fueling Growth

Pet Adoption: A Driving Force
One of the primary drivers fueling the growth of the animal and pet food market is the increasing adoption of pets. Pet adoption involves providing a home and care to homeless or abandoned animals from shelters or rescue organizations. This surge in pet adoption has led to a heightened demand for pet-related products and services, including food. In March 2022, Bankrate LLC reported that 2 million dogs and 2.1 million cats were adopted annually, with over 3 million pets entering shelters each year. This uptick in pet adoption underscores the growing need for pet food, supplies, and services to ensure the nutritional balance and digestibility of pet animals.

Key Players in the Animal and Pet Food Market

• Cargill Incorporated
• Nestle S.A.
• New Hope Liuhe Co. Ltd.
• Charoen Pokphand Foods PCL
• Bunge Limited
• Diamond Pet Foods Inc.
• Mitsui & Co. Ltd.
• Hill’s Pet Nutrition Inc.
• Blue Buffalo Co Ltd.
• SCHELL & KAMPETER INC.
• Wellness Pet LLC
• Sunshine Mills Inc.
• Merrick Pet Care
• Ainsworth Pet Nutrition, LLC
• Simmons Foods Inc.
• Nurture Farms
• United Pet Group Inc.
• Eagle Mountain Pet Food
• VICTOR premium pet food
• Royal Canin SAS
• Iams pet food
• Eukanuba

Read The Full Animal And Pet Food Market Report Here:
https://www.thebusinessresearchcompany.com/report/animal-and-pet-food-global-market-report

Meeting the Nutritional Needs in India

Advanced Products for Balanced Diets
Major companies in the animal and pet food market are focusing on advanced products to meet the growing demand for nutritious and balanced cat nutrition in India. An exemplary product is Whiskas wet cat food, introduced by Mars Inc. in June 2021. This range of food products is specifically designed to offer cats a balanced and nutritious diet. Whiskas Wet Cat Food incorporates high-quality ingredients such as real meat, fish, and poultry, fortified with essential vitamins and minerals. Known for its digestibility, protein richness, and nutritional balance, it caters to the evolving preferences of pet owners in India.

Segmentation: Understanding Market Dynamics

1) By Type:

• Pet Food
• Animal Food

2) By Ingredients:

• Animal Derivatives
• Plant Derivatives
• Synthetic

3) By Distribution Channel:

• Supermarkets/Hypermarkets
• Convenience Stores
• E-Commerce
• Other Distribution Channels

Asia-Pacific Takes the Lead
As of 2023, Asia-Pacific stands as the largest region in the animal and pet food market, indicating the region’s dominance in shaping the industry landscape. The future of the animal and pet food market appears vibrant, with innovations, sustainability, and a focus on meeting the evolving needs of pets and their owners paving the way for further growth.

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The Animal And Pet Food Global Market Report 2023  provides an overview of the animal and pet food market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The animal and pet food market forecast analyzes animal and pet food market size, animal and pet food market share, leading competitor and their market positions.

The Table Of Content For The Animal And Pet Food Market Include:
1. Animal And Pet Food Market Executive Summary
2. Animal And Pet Food Market Segments
3. Animal And Pet Food Market Size And Animal And Pet Food Market Growth Rate
4. Key Animal And Pet Food Market Trends
5. Major Animal And Pet Food Market Drivers
……
25. Key Mergers And Acquisitions In The Animal And Pet Food Market
26. Top Animal And Pet Food Companies
27. Animal And Pet Food Market Opportunities And Strategies
28. Animal And Pet Food Market, Conclusions And Recommendations
29. Appendix

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