The pet food market is forecast to reach US$118.83bn globally in 2025, growing at a CAGR of 5.4%, fuelled by factors such as increasing pet populations, humanisation and the growing popularity of raw pet food.
According to the latest report from ResearchAndMarkets, a few notable trends include the emergence of insect-based pet foods, incorporation of cannabis in pet foods, premiumisation, industry evolution and high purchases of single-serve cat food.
The fastest growing regional market is North America due to improving economic conditions, rising adoption of stray pets, increasing awareness of pet foods with high nutritional benefits among population in the US and Canada and the rising purchase rate of raw dog treats by the urban population.
‘The Global Pet Food Market (by Wet & Dry Food for Dogs, Cats & Others): Insights & Forecast with Potential Impact of COVID-19 (2021-2025)’ report provides analysis of the global pet food market, segmented into dog food and cat food across the major markets, including the UK, and features market trends and challenges.
