World Market for Pet Care

June 2024

As pet owners evolve into pet parents, the pet care industry remains mostly resilient even under gloomy economic conditions due to high adoption of brand loyalty benefiting branded products in the premium segment. This report gives a global overview of the pet care industry by delving into the evolution of the industry, and competitive environment as well as discussing the key trends that shape new product developments.

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This report comes in PPT.

Key Findings

Dry food vs wet food - innovations in both formats focus on value-added products best serving pets’ needs

Dry food dominates pet food, especially dog food, stemming mainly from being the most widely available option that is usually affordable, and convenient. Dry formats are increasingly incorporating functional and novel ingredients to cater to evolving consumer sophistication of benefits for their pets as well as to enhance premium appeal while the wet formats are innovating around packaging and presentation through the lens of humanisation as well as functionality.

The premium segment benefits from high brand loyalty while the mid-priced and economy segments increasingly work around higher quality products at a more affordable price

The pet care market mainly remains resilient to the global economic downturn due to the high adoption of brand loyalty by pet owners. This benefits the premium segment which is the largest contributor to pet food sales. In terms of market development, economy and mid-priced players are trying to bring in attributes to elevate their positioning and have a more premium appeal.

Functional pet food benefits from the holistic approach of pet owners when it comes to their pets’ health

Consumers increasingly value products fortified with positive nutrients, eg protein, probiotics and vitamins, as they have become more aware of the link between food and overall wellbeing. In that context, innovations around functional pet food and pet supplements going beyond basic physical health are paramount.

Digitalisation continues to boost sales in the pet care industry

E-commerce continues to expand as consumers value convenience and products tailored to pets’ needs. Consumers’ presence online is growing and as a result, pet care companies are partnering with online platforms to increase visibility and accessibility. Pet owners are also embracing digitalisation using smart wearables for their pets as they provide insights about pets’ wellbeing.

Brands incorporate sustainable ingredients as they are keen on reducing their carbon footprint

Sustainable claims continue to grow in the pet care industry as pet owners want to reduce the impact of their purchasing decisions on the planet. For brands, it is key to communicate steps taken to achieve long-term sustainability goals to gain consumers’ trust and avoid greenwashing.

Examining five trends shaping pet care
High inflation and slowdown in pet population growth impacted the pet care market in 2023
A growing preference for cats over dogs in key markets drives market growth
Premiumisation supports growth across regions
Premium pet food outperforms in the US and growing preference for local players in China
Online platforms support e-commerce growth and pet shops’ increased offering boosts sales
The US is set to remain paramount while Brazil will see high growth potential for pet care
Global brands benefit from brand loyalty, leading a rather concentrated market
Mars and Nestlé develop strategies to gain a competitive advantage
Pet food outperforms the most established packaged food categories in Mars’ portfolio
Brazilian companies flourish due to the high pet population in the country
Examining five trends shaping pet care
Dry food prevails in dog food stemming mainly from convenience
Innovations in wet formats are driven by humanisation
Dry food focuses on additional health benefits through novel ingredients
Key players prioritise premium as demand grows
Brands in different price bands work around affordable premium
Premium focuses on personalised nutrition to differentiate
Private label seeks to secure stronger position against branded products with new launches
Growing adoption of “food as medicine” fuels demand for functional pet food
High protein and nutrients benefiting gut health are paramount to functional pet food
Brand owners embrace the opportunities in functional pet food with new launches
Pet healthcare is set to grow the most led by supplements
Innovation is paramount to supplements
Addressing the need states around mental wellbeing is gaining traction in pet care
Calming and stress relief are prominent in supporting pets’ mental health
Digitalisation offers omnichannel access as well as tools to monitor pets' health
Online platforms expand their offer of products and services
Sustainability offers significant opportunities within pet care
Brands continue to incorporate sustainable ingredients in pet food
Global snapshot of cat food
Global snapshot of dog food
Global snapshot of other pet food
Global snapshot of pet products
Regional snapshot: Asia Pacific
Regional snapshot: Australasia
Regional snapshot: Eastern Europe
Regional snapshot: Latin America
Regional snapshot: Middle East and Africa
Regional snapshot: North America
Regional snapshot: Western Europe

Pet Care

This is the aggregation of pet food and pet products.

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