Global Pet Food Market Size is Expected to Grow to $138.32 Billion by 2028

Global Pet Food Market Overview

According to Global Market Monitor, the global pet food market size will reach $111.94 billion and is expected to grow to $138.32 billion by 2028.

Pet food is plant or animal material for pets. It is usually sold in pet stores and supermarkets such as dog or cat food.

The Demand for Pet Food Diversifies.

The pet food industry is the largest sub-industry in the pet market, and the demand for pet breeding is becoming more and more diversified. The market demand for segmented products such as fresh food and pet snacks is increasing. With the rise in consumption levels, the ability of pet owners to pay has increased, and the quality of pet breeding has been improved and optimized. More and more owners are not only satisfied with the satiety of their pets but also hope that their pets can eat rich and comprehensive nutrition. With the further development and maturity of the integrated industry and the increase in the number of high-quality pet owners, the market for fresh food and pet snacks is promising.

The Number of Pet Owners Has Increased.

With the continuous and stable development of the social economy and the gradual acceleration of the urbanization process, the spiritual and material lives of human beings are continuously improved, and more and more people regard pets as their leisure companions and emotional sustenance. At the same time, the increase in per capita income has stimulated the consumption of stress and loneliness, and pet ownership has become more and more common. In the United States, families with pets usually have more than two pets, increasing the demand for pet food.

Market Dynamics

In September 2023, Superlatus, Inc., a key food distribution and technology firm, merged with TRxADE HEALTH, Inc., and announced its expansion in the pet food industry with plant-based or vegan pet food treats.

Mars Petcare Inc. is one of the major players operating in the Pet Food market, holding a share of 21.15% in 2022.The company has been adopting strategies such as innovative product launches, brand strengthening, mergers & acquisitions, and online distribution of its products to increase its customer base and lead the global market. In the past years, the company has acquired several reputed brands, such as Natura, Eukanuba, and others. Moreover, it has actively involved itself in online retail sales by collaborating with e-commerce retail giants such as Alibaba Group.

Company Name	Mars Petcare Inc.
Website	www.mars.com
Established Time	1991
Plants Distribution	Worldwide
Market Distribution	Worldwide
Product Introduction	Mars, Incorporated produces confectionery, beverages, pet food, and other food products, as well as animal care services.