The Animal and Pet Food Market is riding a powerful wave of growth — and the pet food market lies at the heart of it. According to MRFR, the global pet food market was estimated at USD 107.6 billion in 2024, and is forecast to rise to USD 150.06 billion by 2035, growing at a compound annual growth rate (CAGR) of 3.07% between 2025 and 2035.

One of the most significant drivers fueling this surge is the rising rate of pet ownership. Across many regions, households increasingly view pets as family members, creating demand not just for basic pet food, but for high-quality, nutritious products that support their pets’ health and wellness. MRFR’s analysis highlights that premiumization—where pet owners opt for organic, grain-free, or high-protein options—is a major catalyst within the pet food market.

Another transformative force is the rise of e-commerce in the Animal and Pet Food Market. More pet owners are buying food online, leveraging the convenience to access niche and premium brands. MRFR notes this trend is reshaping distribution channels and enabling smaller, specialized pet food brands to reach global audiences.

Sustainability is also emerging as a key theme. Consumers are increasingly demanding eco-conscious practices—from ingredient sourcing to packaging. Pet food manufacturers are responding by exploring natural formulations, cleaner labels, and responsible supply chains. MRFR identifies these sustainability initiatives as a long-term structural trend in the market.

In terms of product segmentation, dry food remains dominant in the pet food market, largely due to its convenience, long shelf life, and cost-effectiveness. MRFR projects the dry food segment will continue to hold a substantial share through 2035. At the same time, other product types — such as wet food, snacks & treats, raw food, and food supplements — are gaining ground as formulations become more health- and wellness-oriented.

Animal type also plays a key role: dogs and cats dominate pet food demand, but MRFR notes that other segments (like birds and small pets) are growing, especially in markets where pet diversity is increasing.

Regionally, North America is a major force in the pet food market, thanks to high per-pet spending, mature retail infrastructure, and strong premiumization trends. MRFR’s report emphasizes this leadership. Meanwhile, Asia-Pacific is emerging as a fast-growth region, powered by rising pet adoption, increasing disposable incomes, and shifting consumer attitudes toward premium and health-focused pet nutrition.

Key players in the space include Nestlé Purina PetCare, Mars Petcare, Hill’s Pet Nutrition, Diamond Pet Foods, Spectrum Brands, Blue Buffalo, WellPet, General Mills, Unicharm, and Colgate-Palmolive. These companies are investing heavily in R&D, innovation, and sustainable practices to capture a bigger slice of the growing animal and pet food market.

In summary, the animal and pet food market, particularly the pet food segment, is on a steady and sustained growth path. The combination of rising pet ownership, premiumization, e-commerce expansion, and sustainability trends means this is no longer just a commodity business — it’s a high-value, innovation-driven market. For pet food brands and investors alike, the next decade promises significant opportunity.