The pet food market covers a wide range of products, from standard kibble to natural and fresh pet food options. The market has greatly diversified in recent decades; trends in human food consumption have made their way into the pet world and are likely there to stay. Whether it be free-from, organic, or low-calorie, consumers are likely to be able to find a wide range of options while browsing in-store or online. The global pet food market is growing annually at a steady pace. Total sales were estimated to reach a peak of over 123 billion U.S. dollars in 2022.
Regional pet food industry overview
The majority of pet food revenue is produced in the United States, followed by China and the United Kingdom. The U.S. is, by far, the frontrunner, producing almost eight times as much revenue in 2022 as second-placed China. Food and treats make up the largest share of total pet market revenue in the U.S., followed by sales of veterinary services and products. Despite the U.S. being home to largest pet food market, North America produces only the second largest volume of pet food in the world. Europe was the front runner in pet food production in 2022, producing around 11.78 million metric tons.
Pet food companies
Mars Petcare Inc., which is headquartered in the U.S., was the leading pet food company worldwide in 2021 based on revenue. The company generated 19 billion U.S. dollars in revenue, followed by Nestlé Purina PetCare and Hill's Pet Nutrition. The top eight pet food companies globally were all headquartered in the U.S., further showcasing the nation’s dominance in this industry. The most successful pet food company outside of the U.S. was Unicharm Corp., a Japanese manufacturer.
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