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The pet food market has exhibited robust growth, increasing from $68.67 billion in 2023 to $73.57 billion in 2024, with a CAGR of 7.1%. This growth in the historic period is attributed to increased pet spending, rising pet ownership among Gen Z and Gen Y adults, and growth in emerging markets. Looking ahead, the market is forecasted to experience strong growth, reaching $97.4 billion in 2028 at a CAGR of 7.3%. Factors driving this growth include the increasing demand for premium and organic pet food, the influence of digital media marketing, and rising demand due to stockpiling and feeding of stray animals. Major trends include investments in facilities for quality grain-free dog food, offerings of premium pet food products, and the use of e-commerce platforms for sales. Player-adopted strategies involve expanding manufacturing operations, enhancing product portfolios through acquisitions, and investing in R&D for improved and premium products.

The pet food manufacturing market’s growth is aided by stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), global GDP growth reached 3.3% in 2020 and 3.4% in 2021, both according to the IMF. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market’s growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period. The pet food manufacturing market is set for robust expansion, with predictions indicating a market size of $XX billion in 2023, $YY billion in 2024, and $ZZ billion by 2028.

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What Are The Key Trends That Influence Pet Food Market Share Analysis?

Pet food manufacturers are increasingly employing automation technologies, such as advanced production lines and software solutions, to enhance safety and operational efficiency. These technologies automate processes like formulation, batching, drying, coating, and liquid delivery, resulting in cost-effective processing and consistent product quality. For instance, Champion Petfoods, a Canadian pet food producer, uses video-monitored production lines with Rockwell hardware and software systems. The company also utilizes bulk bins, conveying systems, votator heat exchangers, and advanced extrusion and drying systems. United Pet Group’s St. Louis plant employed FactoryTalk software from Rockwell Automation to reduce overtime by 10% and boost labor efficiency by 15%.

Which Market Players Are Driving Growth In The Pet Food Market?

Major companies operating in the market are Mars, Incorporated, Nestle S.A., The J.M. Smucker Company, Colgate-Palmolive Company, Diamond Pet Foods Inc., General Mills, Inc., Archer Daniels Midland Company, Saturn Petcare GMBH, Unicharm Corporation, Tiernahrung Deuerer GmbH, Marukan Co. Ltd., Riverd Corporation Inc., Nippon Pet Food Co. Ltd., Glenand Group, Purina PetCare India Private Limited, Luscious, Pedigree, Yantai China Pet Foods Co. Ltd., Real Pet Food Company, Fressnapf, Monge & C. Spa, Pet Food UK, Burgess Pet Care, GA Pet Food Partners, Tekro, Brit, Marp Pet Food, Partner in Pet Food, Hill’s Pet Nutrition, Nutreco, Canadian Jerky Company Ltd., Corey Nutrition Company Inc., Elmira Pet Products Ltd., Malta Cleyton, Brazilian Pet Foods S/A, Diana Pet Food Brasil (SPF), Neovia Group Brazil, Natural Pet Foods, Premier Pet, Bio-Pet Ltd., Tropikal Pet, Cagatay Pet Food, African Gazelle Products, Maneli Pets, RCL Foods, Martin & Martin Pty Ltd, PROMEAL.

How Is The Global Pet Food Market Segmented?

The pet food market covered in this report is segmented –

1) By Type: Dog Food, Cat Food, Other Pet Food
3) By Ingredients: Animal Derivatives, Plant Derivatives, Synthetic
2) By Distribution Channel: Specialized Pet Shops, Internet Sales, Hypermarkets, Other Distribution Channels

Subsegments Covered: DRY FOOD, WET/CANNED FOOD, SNACKS/TREATS

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The Pet Food Global Market Report 2024 provides an overview of the pet foodmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The pet food market forecast analyzes pet food market size, pet food market share, leading competitor and their market positions.

The Table Of Content For The Pet Food Market Include

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

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