Note: This article’s statistics come from third-party sources and do not represent the opinions of this website.
The pet food industry is a huge market, worth approximately $150 billion a year and rising. It includes food and treats for all pet types, from dogs and cats to fish and birds. It incorporates food bought online, as well as food purchased in bricks-and-mortar stores, as well as prescription and specialty foods. The US is the single biggest market for pet food, with around two-thirds of the pet food sold in the country being dog food. The UK is the second biggest market, but expenditure in the UK is less than 15% that of the US market.
Below are 12 statistics related to the pet food industry, including global statistics as well as some relating to the two biggest markets in the US and the UK.
(Statista 1)
Pet food expenditure includes treats, as well as food bought online, in-store, and via meal delivery kits or subscriptions. Globally, pet owners spend approximately $150 billion a year on their pet’s nutritional needs.
This includes spending on dogs, cats, and all other species of pets, although because cats and dogs are the most popular pets, this is where most of the money goes. This figure is expected to increase by more than 5% per annum until 2028, which would put annual expenditure at around $200 billion.
(Statista 1)
By 2028, the global pet food industry is expected to ship as much as 59 billion kilograms of food per year. The industry is only expected to add just over 2% to its volume in 2024, however, potentially owing to a slowdown in pet purchases and adoptions since the end of Covid lockdowns.
(Pet Food Industry)
The dog food industry is expected to see a Compound Annual Growth Rate (CAGR) of nearly 5% which will take annual spending to $82 billion by 2026. Drivers for this increase include an increase in disposable income as well as a greater onus on pet health and the role that nutrition plays. This will lead buyers to search for more expensive, premium foods, but won’t necessarily lead to a large increase in the volume of food being consumed.
(SNS Insider)
The pet meal delivery industry is one area of the dog food market that is expected to increase. Deliveries offer greater convenience to the consumer with food delivered directly to the door regularly. The food kits themselves are considered more nutritious, more palatable, and contain better ingredients than traditional kibble and canned foods.
Currently, pet meal kit deliveries only make up a small portion of the market and while this will likely remain true in the near future, their popularity and revenue are set to increase. It currently stands at $1.5 billion a year in revenue.
(Statista 2)
The US is far out in front as the world’s largest pet food market with $50 billion in annual revenue. The second biggest market is the UK, where owners spend approximately $7 billion a year on food for their pets.
(Forbes)
The US pet food industry is the largest market in the world, driven by the fact that two-thirds of households in the US own at least one pet. This includes pets of all species, but the majority of pets in the country are cats and dogs.
(Zippia)
In total, 69 million households own at least one dog while 45 million households own cats. Although dogs are more popular, cat owners are more likely to own multiple cats, which means their total expenditure on pet food remains relatively high. Other popular pets include indoor and outdoor fish, indoor and outdoor birds, and rabbits. Exotic pets like lizards and snakes continue to gain in popularity.
(Statista 2)
The US pet food industry is worth $50 billion a year, which means it holds over a third of the global market share. The industry includes food for all pet types, as well as food bought online or in-store.
(Pet Food Industry)
Dogs are the most popular pets by total population and by the number of households that own them. It is not surprising, then, that the majority of the pet industry’s revenue comes from dog food. Two-thirds of all pet food sold in the US is dog food.
(Zippia)
Dog owners spend an average of $442 per year buying dog food. This equates to $37 per month or just over $1.20 per day, which also includes the cost of dog treats.
(Zippia)
Cats are cheaper to feed than dogs, with the average spent by cat owners, per cat, being $329 per year. That’s less than $1 per day, including the cost of cat treats.
(Forbes)
Specialty dog foods are those made using proteins that the dog wouldn’t normally have access to, or that are formulated for certain conditions or illnesses. Some of these foods might be covered by insurance, but most are not. Costs vary according to the food, its ingredients, and the supplier, but they tend to cost more than standard commercial foods.
When questioned, a quarter of owners said they would cut costs on specialty foods if they were struggling for money and were looking for ways to save cash.
The biggest pet food company in the world is Mars Petcare. Mars Petcare owns a host of different pet food brands including Pedigree, Royal Canin, Nutro, Eukanuba, Whiskas, Sheba, and others. Their main competitors are Nestle Purina PetCare, who own Pro Plan, Friskies, and Fancy Feast.
(IMARC Group)
Pet food is highly regulated in most countries and areas around the world. In the US, it is regulated by the Food and Drug Administration and by the Food Standards Agency in the UK. Regulators ensure that food is safe and that it is manufactured in sanitary conditions. They also aim to ensure that labeling is accurate.
(FDA) (FSA)
The price of dog food has risen steeply in the past few years. One survey suggests that prices have risen by as much as 45% in 2023 when compared to 2020. Reasons for the increase include a rise in the cost of raw ingredients due to adverse weather conditions arising as a result of climate change. Transportation and labor costs have also risen.
(The Street)
Table scraps, or food left on plates after mealtimes, can be high in sugar, salt, and fats, and it is recommended that dogs do not consume large amounts of these. And many human foods contain ingredients that can be harmful to dogs. Always check the specific scraps and human foods you give your dog and keep track of the calories and other ingredients you’re feeding.
(My Pet)
Dogs and cats are the two most popular types of pets in the world and, as such, these make up the majority of expenditure on pet food globally and in the US. The global pet food industry is worth approximately $150 billion a year and this is expected to rise in the coming years. Most of this revenue comes from dog food, which also includes dog treats.
Meal kits and subscriptions are on the increase, although the rising cost of dog food might cause some changes in consumer spending.
Featured Image Credit: Tyler Olson, Shutterstock
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