How big is the market for pet food?
USD 110.53 billion
The global pet food market size was valued at USD 110.53 billion in 2021. The market is projected to grow from USD 115.50 billion in 2022 to USD 163.70 billion by 2029, exhibiting a CAGR of 5.11% during the forecast period.
How much is the pet industry worth in Australia?
The pet industry in Australia is worth $13 billion in 2021. In 2019, the industry was worth $12.2 billion, and some analysts believed the numbers in 2021 would be dismal because of the pandemic.
Is the pet industry growing in Australia?
Data from industry analysts IBISWorld shows pet food production is worth $2.6 billion a year in Australia and is projected to grow to $2.8 billion by 2026 as pet owners increasingly look to gourmet food options for their animals.
How much pet food is sold per year?
According to Euromonitor International, global pet food sales totaled $93.9 billion in 2019, an increase of 6.5% over 2018. US pet food and treat consumers accounted for 36.5% of that by purchasing $34.3 billion of pet food and treats, of which nearly $6 billion was spent on dog and cat treats and mix-ins.
Why are pet food markets growing?
Currently, dog food dominates the market due to increasing dog ownership coupled with the rising pet humanization trend across the globe. Breakup by Product Type: Dry Pet Food. Wet and Canned Pet Food.
How much do Australians spend on pet food?
According to the survey, dog owning households spend on average about 622 Australian dollars on pet food per year.
How much is the pet industry worth 2020?
$103.6 billion
The pet industry reached a milestone in 2020, with total sales of $103.6 billion, a historic high, according to the American Pet Products Association (APPA) State of the Industry Report released last week.
How big is the pet industry in 2021?
$245 billion
Globally, the pet care market has grown to $261 billion in 2022; up from $245 billion in 2021. An estimated 6.1% compounded annual growth rate (CAGR), will catapult that figure to $350 billion by 2027.
How big is the pet industry 2020?
The pet industry reached a milestone in 2020, with total sales of $103.6 billion, a historic high, according to the American Pet Products Association (APPA) State of the Industry Report released last week. That marks an increase of 6.7% over 2019 retail sales of $97.1 billion.
What type of market structure is pet food sold?
oligopoly
The pet food market is an oligopoly, meaning a few major players dominate. Some of the major players are Nestle SA, Mars Inc., and Colgate-Palmolive Co.
Why is the pet food industry growing?
Rising Trend of Pet Humanization The rapid pace of economic and societal changes is driving pet ownership and the pet food market trends. The new generation is becoming more isolated, and as a result, pets are treated as companions, leading to the growth of the pet food market.
How big is the pet industry?
The pet industry in the USA reached a milestone in 2020, with total sales of $103.6 billion, a historic high, according to the American Pet Products Association (APPA) State of the Industry Report. This compares to sales of $48 billion in 2010.
What pet products are in demand?
This up-to-date list has you covered.
- CBD for Dogs. 5-year search growth: 766%
- Pretty Litter. 5-year search growth: 1142%
- Donut Dog Bed. 5-year search growth: 400%
- Dog toothpaste. 5-year search growth: 48%
- Dog vitamins. 5-year search growth: 67%
- Cat treats. 5-year search growth: 152%
- Freeze dried dog food.
- Dog calming bed.
How big is the pet industry 2021?
Actual Sales within the U.S. Market in 2021 In 2021, $123.6 billion was spent on our pets in the U.S.
Is the dog food market competitive?
Competitive Landscape: The global dog food market is highly concentrated in nature with the presence of a few players competing in terms of quality and prices.
What is the demand for pet products?
Globally, the pet care market has grown to $261 billion in 2022; up from $245 billion in 2021. An estimated 6.1% compounded annual growth rate (CAGR), will catapult that figure to $350 billion by 2027.