Global Fresh Pet Food Market Size, Share, Growth Analysis, By Animal Type, By Product, By Ingredient, By Sales Channel, By Pricing - Industry Forecast 2024-2031

Global fresh pet food market size was valued at USD 1.2 billion in 2022 and is poised to grow from USD 1.35 billion in 2023 to USD 3.58 billion by 2031, growing at a CAGR of 12.9% during the forecast period (2024-2031).

The anticipated rise in pet ownership globally coupled with an increasing concern for pets' well-being is foreseen as the key drivers propelling the growth of the fresh pet food market. Additionally, the recognition of the benefits of whole foods on pets' digestion and performance is poised to further stimulate market expansion during the forecast period. The adoption of organic food trends from the human food sector into pet food is driving pet food companies to prioritize ingredients like probiotics and antioxidants to enhance sales. However, the potential impediment to the growth of the organic segment lies in its higher price point, limiting accessibility for some households. The market's value chain, inclusive of raw material suppliers, manufacturers, distributors, and end consumers, underscores the processing of meat-based raw materials to extract protein components, water, and fat, involving processes like grinding, cooking, and mixing with other ingredients.

Top-down and bottom-up approaches were used to estimate and validate the size of the global fresh pet food market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Fresh Pet Food Market Segmental Analysis

The global fresh pet food market is segmented into animal type, product type, ingredient type, sales channel, and pricing type. Based on animal type, the global market includes dogs, cats, birds, and others. On the basis of product type, the global market includes dry pet foods, wet foods, veterinary diets, sweets & treats, and organic products. Based on ingredients, the global market includes animal derivatives and plant derivatives, cereals and cereal products, and others. Based on sales channels, the global market includes specialty pet stores, online sales, supermarkets, and others. In terms of pricing the global pet food market includes the economy segment, premium segment, and super-premium segments. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Drivers of the Global Fresh Pet Food Market

The widespread coverage of pet abuse in global mainstream media has drawn significant attention in recent years. Research conducted by the American Pet Products Association (APPA) as part of the National Pet Owner Survey (2019-20) reveals that over 88.9 million households in the United States alone own one or more pets, with dogs constituting a significant portion of this population. This growing trend of humanizing animals is expected to fuel the expansion of the fresh pet food market.

Restraints in the Global Fresh Pet Food Market

Pet food is subject to extensive regulation, particularly in Western markets, where stringent controls are imposed throughout the entire production and distribution process. These regulations, aimed at ensuring quality and safety, can pose significant barriers to market expansion. Moreover, in certain emerging markets, the limited adoption of premium pet food varieties may impede overall market growth.

Market Trends of the Global Fresh Pet Food Market

A surge in customizable fresh pet food options is evident in today's market, offering pet owners the flexibility to select ingredients or formulas that cater to their pets' unique nutritional requirements, age, breed, or health conditions. This trend not only fosters customer satisfaction and loyalty but also presents an opportunity for companies to capitalize on by developing personalized pet food products tailored to individual pets, thereby boosting sales and revenue.