Pet Humanization Trend at the Epicenter of Driving Dog Food Sales at 6.2% CAGR through 2031 - Future Market Insights
- Future Market Insights (FMI) in its latest market survey highlights the opportunities, trends, and restraints impacting sales in the global dog food market. The study covers developments and trends across various segments including nature, source, product type, pet type, packaging type, and distribution channel. It also projects demand for dog food in the adult dog category to remain high over the forecast period.
DUBAI, UAE, Oct. 6, 2021 /PRNewswire/ -- Driven by growing trend of pet humanization across the world, sales of dog food are projected to grow by 6.2% CAGR through 2031, finds Future Market Insights in a recent market study.
Shifting consumer preference towards organic and plant-based dog food options is anticipated to push sales in the market over the forecast period. Considering this, FMI has forecast the market size to total US$ 44.83 Bn in 2021. In addition to this, demand for made-to-order dog food is expected to grow in forthcoming years, with the total valuation reaching US$ 81.65 Bn in 2031.
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The outbreak of COVID-19 has resulted in increasing pet ownership across the globe. As per a study by Veterinary Humanities and Social Sciences, as compared to 2019, pet ownership has increased by 250% in the first half of 2020. This has resulted in high demand for dog food and accessories, and the trend is anticipated to continue over the forecast period.
Pet owners has become highly conscious about health concerns such as excessive weight gain and gastrointestinal diseases affecting their dogs. Thanks to better access to information, pet owners are more informed about various ingredients used in pet food. With demand for healthier supplements increasing, manufacturers are encouraged to launch organic, insect-derived, and plant-based dog food products.
Besides this, dog food producers are aiming at expansion of their distribution channels in countries such as India, Brazil, Thailand, and Mexico by entering into strategic collaborations with regional and local players. This is expected to pave way for the growth of the market in the coming years.
"Quality certification in dog food products is expected to become imperative to ascertain quality, quantity, and the grade of food. Besides this, adoption of online retail channels by market players will continue pushing sales of dog food products over the assessment period," says the FMI analyst.
Key Takeaways:
- Demand for organic dog food is expected to surge at a 6.9% CAGR over the assessment period.
- Based on source, sales of insect-derived dog food are projected to rise at a robust 8% CAGR.
- Wet dog food will dominate the product category, exhibiting growth at 4.3% CAGR through the assessment period.
- The adult dog category is anticipated to account for 58.6% of the total dog food market share.
- In terms of packaging type, bags are projected to remain highly sought after in the total dog food market.
- The U.S. is anticipated to dominate the North America dog food market, accounting for 84.4% of the market share in 2021.
- Thailand will emerge as an attractive market, with sales of dog food growing at a robust 8.9% CAGR.
- The U.K. will continue exhibiting high demand for dog food, accounting for 20.4% of the Europe dog food market share.
- Japan is projected to account for 31.3% of dog food sales in East Asia, while South Korea will command one-fourth of the total sales in 2021.
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Prominent Drivers:
- Introduction of subscription-based delivery models by market players will provide tailwinds to dog food sales.
- Improvements in packaging formats such as usage of sustainable, lightweight, and convenient bags, pouches, and containers will continue bolstering sales of dog food.
Competitive Landscape
Leading players operating in the global dog food market are emphasizing on research and development activities to launch healthier dog food products and sustainable packaging formats. In addition to this, mergers, acquisitions, and strategic collaborations are anticipated to assist market players in expanding their global footprint. For instance:
- In April 2021, Nestlé Purina PetCare announced its plans to invest US$ 35.1 Mn as additional funds in its pet food processing plant in China. The investment is aimed at expanding the production of dry and wet food.
- In August 2020, Manna Pro Products completed the acquisition of Doggie Dailies, a premium dog food brand. The acquisition is aimed at solidifying Manna Pro's market presence by capitalizing on the growing eCommerce market for pet products.
Leading players operating in dog food market profiled by FMI include:
- Evanger's Dog & Dog Food Company, Inc.
- Nestlà Purina Pet Care
- P&G Pet Care
- Hill's Pet Nutrition
- Del Monte Pet Products
- Affinity Petcare SA
- Nutro Products Inc.
- Unicharm PetCare Corp.
- Total Alimentos SA
- Nutriara Alimentos Ltda.
- The J.M. Smucker Company
- Dave's Pet Food
- Fromm Family Foods LLC
- Boulder Dog Food Company
- Real Pet Food Company Pty Ltd
- Burgess Group PLC
- Freshpet
- Party Animal, Inc.
- Rollover Pet Food Ltd.
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More Insights on FMI's Dog Food Market
The latest market study on the dog food market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global dog food market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
Nature:
- Organic
- Monoprotein
- Conventional
Source:
- Animal Derived
- Fish
- Chicken
- Duck
- Beef
- Pork
- Venison/Game
- Lamb
- Turkey
- Plant-derived
- Insect- derived
- Crickets
- Mealworms
- Black soldier flies
Product Type:
- Kibble/Dry
- Extruded
- Baked
- Coated
- Treats and Chews
- Pastes
- Cremes / Cream-Snacks
- Crunchy snacks
- Chew sticks
- Tablets
- Biscuits
- Jerky
- Rawhide
- Dehydrated Food
- Freeze Dried Food
- Freeze-Dried Raw
- Wet Food
- Frozen
- Raw Food
- Powder
Pet Type:
- Puppy
- Adult
- Senior
Packaging Type:
- Pouches
- Bags
- Can
- Bottles & jars
- Folding cartons
- Tubs & Cups
Distribution Channel:
- Store-based Retailing
- Hypermarkets/Supermarkets
- Convenience Stores
- Mom and Pop Stores
- Pet Stores
- Discounters
- Independent Grocery Retailers
- Drugstores
- Other Retail Formats
- Online Retailers
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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Key Questions Covered in Dog Food Market Report
- The report offers detailed insights into dog food market demand outlook for 2021-2031.
- The market study also highlights projected sales growth for dog food market between 2021 and 2031.
- Dog food market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Dog food market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S., and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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