Pet food market seen reaching $133.4B by 2030

The global pet food market is projected to grow from $87.3 billion in 2020 to $133.4 billion by 2030, driven by steady demand across dogs, dry food and specialty pet shops. The forecast points to North America as the largest region, while Asia-Pacific is expected to post the fastest growth.

Why it matters: - The pet food market is still expanding as pet ownership and premium product demand support long-term sales. - The forecast signals where manufacturers, retailers and investors may find the strongest growth pockets through 2030.

What happened: - Allied Market Research projected the global pet food market to reach $133,430.9 million by 2030, up from $87,268.2 million in 2020. - The report estimates a compound annual growth rate of 4.6% from 2021 to 2030. - The study covers pet type, food type, sales channel and region. - The report examines market trends, value chains, regional landscapes and competitive conditions.

The details: - By pet type, dogs held the largest share in 2020 at more than two-fifths of the market and are projected to remain the dominant segment through 2030. - The dogs segment is forecast to post the fastest growth at a 4.7% CAGR from 2021 to 2030. - The report also covers cats and other pet categories. - By food type, dry food accounted for about one-third of the market in 2020 and is expected to keep the lead through 2030. - Dry food is projected to grow at a 5.3% CAGR, the fastest among food types. - The report also includes wet food, treats and snacks, and other product types. - By sales channel, specialized pet shops held more than one-third of the market in 2020. - Specialized pet shops are expected to remain the leading channel through 2030 and post the fastest CAGR at 5.1%. - The report also analyzes online sales and other channels. - By region, North America was the largest market in 2020, with more than one-third of global sales. - Asia-Pacific is projected to record a notable 5.1% CAGR from 2021 to 2030. - The report also covers Europe and LAMEA. - The report names 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 among the leading players. - The report says these companies are using collaborations, expansion, joint ventures, agreements and new product launches to protect and grow market share. - The study highlights business performance, operating segments, product portfolios and strategic moves across the market. - The release includes a sample PDF request, a purchase inquiry form and a checkout page.

Between the lines: - The fastest growth is concentrated in established categories, not just emerging niches, which suggests demand is broadening across core pet ownership needs. - Specialty retail and dry food remain important even as online sales are included in the market mix, pointing to a channel shift that has not displaced traditional pet stores. - North America’s current lead and Asia-Pacific’s faster growth show a market that is mature in one region and still scaling in another.

What's next: - Market players are likely to keep targeting premiumization, product launches and channel expansion as the market grows. - Regional competition should intensify as Asia-Pacific growth outpaces mature markets. - The report points to continued opportunity for companies focused on dogs, dry food and specialized retail.

The bottom line: - Pet food is on track for steady decade-long growth, with the biggest opportunities still centered on core products, specialty channels and the largest regional markets.