Industry to Reach $82 Billion by 2026 at a CAGR of 4.7{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86}

DUBLIN, Jan. 18, 2023 /PRNewswire/ — The “Global Dog Food Market- Size, Trends, Competitive Analysis and Forecasts (2022-2027)” report has been added to  ResearchAndMarkets.com’s offering.

The global dog food market is expected to reach sales worth $82.0 billion by 2026, growing at a CAGR of 4.7{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86} during 2022-2027. The dog food market’s major driving factors are increasing disposable incomes, urbanization, awareness about pet’s health, and a higher demand for better-quality, premium products.

North America, is the market leader in the dog food market with a projected sale of $36.4 billion in 2026, accounting for 47{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86} of the global dog food market share. In this region, the dog food market is expected to grow at a CAGR of 4.4{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86} during 2022-2027. In the U.S., dog food accounts for 66{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86} of the pet food sales and is expected to grow at a CAGR of 4.3{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86} in value terms. Dog food sales in Canada is expected to grow at a CAGR of 4.2{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86} in value terms during 2022-2027.

The stagnation of dog population growth in the U.S. and Canada will be offset by increased expenditure on pets due to the humanization and premiumization trend. In Mexico, dog food sales are growing at a steady pace as they continue to recover from a 16{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86} VAT imposition in 2014. Modern retailers such as supermarkets and hypermarkets, increasing their selling space, and increasing the number of dogs in the country are driving factors for dog food sales in Mexico.

Europe is the second-largest market for dog food, accounting for a global market share of 25{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86}, with a projected sale of $19.4 billion in 2026. Dog food market in this region is expected to grow at a CAGR of 4.1{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86} during 2022-2027. The European dog food market is primarily driven by four factors: health-oriented products, breed-specific diets, food for dogs at different age’s and treats.

In Western Europe, the dog food market is affected by tough economic conditions and people’s inability to keep larger-breed canines, leading to a sharp increase in the number of small dogs. New laws by the government, such as compulsory microchipping of dogs since April 2016 in the U.K., have also led to people preferring other types of pets. However, with health being the paramount concern, consumers pay more attention to organic and natural ingredients and healthy dog treats, which will drive value sales.

Asia-Pacific accounts for 15{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86} of the dog food market share globally, with projected $13.8 billion revenue in 2026. It is also expected to be the fastest-growing dog food market with a CAGR of 7.2{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86} during 2022-2027. The trend driving the dog food market differ in this region, depending on the country.

In Vietnam, India, and China, value for money and product pricing are the most important factors for dog owners. In Japan, most families own older pets, so pet owners are more interested in products fit for the aging canines. In Singapore and South Korea, dog food sales are fueled by four factors: innovation, demand for healthier products, convenience, and shorter product lifecycles.

South America accounts for 14{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86} of the global dog food market share with projected revenue of $11.5 billion in 2026. The dog food market in the region is expected to grow at a CAGR of 4.6{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86} during 2022-2027. Dog food accounts for more than 75{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86} of the region’s pet food market, the highest percentage as compared to any other global market. Internet retailing drives dog food sales in Brazil, which holds about 70{95b18eb6fc4f42efd0d92738dfc3fb79fde21da267a711ecdf0381147c27bb86} of the pet food market in South America.

Market Dynamics

Drivers

• Snowballing Dog Population
• Growing Trend of Pet Humanization
• Increasing demand of Therapeutic pet food

Restraints

• Growing connotation between pet food and obesity
• Nutritional Sustainability
• Supply Chain Challenge in developing countries

Opportunities

• Organic and natural pet food
• Innovative Packaging
• Growth in Internet Retailing

Key Topics Covered:

1. Introduction

2. Summary

3. Industry Dynamics

4. Market Size and Forecast
4.1 Market Share, By Product Type
4.1.1 Dry Dog Food
4.1.2 Wet Dog Food
4.1.3 Veterinary Diets
4.1.4 Treats & Snacks
4.1.5 Raw Food
4.1.6 Organic
4.2 Market Share, Pricing
4.2.1 Economic
4.2.2 Premium
4.2.3 Super-premium
4.3 Market Share, Ingredients
4.4.1 Animal Derivatives
4.4.2 Fish Derivatives
4.4.3 Dairy products and eggs
4.4.4 Fruits & Vegetables
4.4.5 Cereals & Cereal by-products
4.4.6 Fats & Oils
4.4.7 Additives
4.4.8 Others
4.4 Market Share, Additives
4.4.1 Vitamins
4.4.2 Minerals
4.4.3 Amino Acids
4.4.4 Antioxidants
4.4.5 Antimicrobials
4.4.6 Colorants
4.4.7 Emulsifiers & Stabilisers
4.4.8 Flavors
4.4.9 Others
4.5 Market Share, Distribution Channel
4.5.1 Pet Shops
4.5.2 Mass Markets
4.5.3 Internet Retailing
4.5.4 Veterinanry Clinics
4.5.5 Others

5. Country Market Share

6. Competitive Analysis

7. Company Profiles

Companies Mentioned

• Mars Inc.
• Nestle SA
• Hills’s Pet Nutrition
• Uni-Charm Corp
• Nutriara Alimentos Ltda
• Neovia (ADM)
• Agrolimen Pet Care SA
• Mogiana Alimentos SA (BRF S.A.)
• Heristo AG
• Deuerer
• Wellness Pet Company
• Big Heart Pet Brand (J.M. Smucker Company)
• Diamond Pet Foods
• Blue Buffalo Co., Ltd. (General Mills)
• Merrick Pet Care

For more information about this report visit https://www.researchandmarkets.com/r/xsnn3e

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