Global Animal Food Market Data 2024, Forecast To 2033
8 Jan, 2024
The animal food market has displayed robust growth, rising from $256.18 billion in 2023 to $278.62 billion in 2024, with an 8.8% CAGR. Growing pet ownership, animal agriculture, humanization of pets, and global meat consumption contributed to historic period growth. The market is expected to reach $379.41 billion in 2028, driven by factors such as health and wellness for pets, sustainability, digital marketing, and e-commerce. Trends include grain-free diets, natural and organic pet food, and alternative protein sources.
Global Animal Food Market Key Driver
The stable economic growth in developed and developing countries aids the animal and pet food market. According to the International Monetary Fund (IMF), global GDP growth was 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices and stable economic conditions drive investments in end-user markets. The stable economic growth forecast, both in developed and emerging markets, is expected to increase investments, fostering the growth of the animal and pet food market.
Get A Free Sample Of The Global Animal Food Market ReportGlobal Animal Food Market Segments
The animal food market covered in this report is segmented –
1) By Type: Poultry Feed, Cattle Feed, Aquaculture Feed, Other Animal Food
2) By Ingredients: Cereal, Oilseed Meal, Supplements, Other Ingredients
3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
By Geography: The regions covered in the animal food market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the animal food market in 2023. Western Europe was the second-largest region in the animal food market. The regions covered in the animal food market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Animal Food Industry Players
Cargill Incorporated, New Hope Liuhe Co. Ltd., Charoen Pokphand Foods PCL, Bunge Limited, Mitsui, CJ Cheiljedang Corp, Land O'Lakes Inc., ForFarmers NV, Japfa Ltd., Tate & Lyle, Mars Petcare Inc., Nestlé Purina PetCare, ADM Animal Nutrition Inc., Ainsworth Pet Nutrition LLC, Alphia, Hill's Pet Nutrition Inc., Diamond Pet Foods, Blue Buffalo Co.Ltd., Spectrum Brands Inc., WellPet Group, Sunshine Mills Inc., Merrick Pet Care Inc., Simmons Pet Food, C.J. Foods Inc., Tuffy’s Pet Food Inc., Nature’s Variety, AgriProtein, Al Dahra Agricultural Company LLC, Big Heart Pet Brands, Bob Martin Petcare, BOCM Pauls, Ceylon Grain Elevators plc, Champion Petfoods LP, Devenish Nutrition, Diamond V, Ewos Group AS, H&N International GmbH
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Animal Food Market Overview
Animal food refers to food for domestic animals, especially livestock, in the course of animal husbandry. These are intended for use as a substantial source of nutrients in the diet of the animal.
Animal Food Global Market Report 2023 provides data on the global animal food market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The animal food market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.