Pet Supplies Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 229.73 Billion |
| Market Size (2029) | USD 335.14 Billion |
| CAGR (2024 - 2029) | 8.26 % |
| Fastest Growing Market | Asia |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Pet Supplies Market Analysis
The Pet Supplies Market size is estimated at USD 229.73 billion in 2024, and is expected to reach USD 335.14 billion by 2029, growing at a CAGR of 8.26% during the forecast period (2024-2029).
- Worldwide, pets are being embraced as essential members of the family. The American Pet Products Association reports that around 82 million households owned at least one pet in the United States in 2023, a number that's set to climb. In light of this growing trend of pet parenting, manufacturers are introducing premium products designed for these discerning pet owners. Notably, younger pet owners are increasingly willing to spend more on supplies, highlighting their dedication to their pets' welfare. This evolving landscape is set to invigorate the pet supplies market, pointing to significant growth in the coming years.
- Pet owners are increasingly prioritizing their pets' skin and coat health, going beyond just nutrition. This growing focus has led to a surge in demand for pet shampoos, conditioners, clothing, and a variety of accessories. Worldwide, millennials, empowered by their rising purchasing power, are increasingly welcoming companion animals into their homes. As a result, there's a notable uptick in demand for pet grooming products and other accessories, driven not only by cosmetic needs but also by the desire to prevent common skin issues caused by germs, fleas, and ticks.
- As sentiments towards pet adoption evolve among the new generation, the industry is undergoing a notable transformation. In North America and Europe, Gen Z and millennials are increasingly embracing the role of 'parents' to their pets. According to the American Pet Products Association, in 2023, Millennials constituted the largest share of pet owners at 33%, trailed by Gen X at 25% and Baby Boomers at 24%.
- The'Pet Parent' phenomenon is also gaining momentum in Asian countries, notably India. This shifting viewpoint is not only driving up demand for premium pet food and nutrition but is also broadening interest in a variety of products, ranging from pet food, oral care, and treats to snacks and lifestyle items. The quest for convenience, combined with a readiness to invest in their 'pet children,' is fueling the expansion of the pet supplies market.
Pet Supplies Market Trends
Pet Food Leads the Product Types
- According to the Alltech Feed Survey, in 2023, North America and Europe each produced around 11 million metric tons of pet food, leading the global market. The U.S. stands out as the world's largest producer and consumer of pet food, bolstered by the presence of industry giants like Mars Petcare Inc., Nestlé Purina PetCare, and J.M. Smucker. Europe's dynamic pet market boasts key players such as Spain's Agrolimen SA and Germany's Deuerer and Heristo AG.
- Meanwhile, regions outside North America and Europe are experiencing a rising demand for pet food, primarily driven by increasing pet ownership and awareness of pet nutrition. The World Small Animal Veterinary Association underscores this trend, noting a significant cultural shift in pet ownership across Southeast and South Asia, Central Asia, Sub-Saharan Africa, and Eastern Europe, suggesting potential changes in pet food market dynamics.
- The growing global demand for premium pet foods has led many companies to develop high-quality pet food products to capture significant market shares. E-commerce has also positively influenced the global pet food market.According to the American Pet Products Association (APPA), 80% of pet owners purchased pet food online in 2022, a significant increase from 59% in 2018. Additionally, 76% purchased pet treats online, up from 56% in 2018. Online retailers now deliver pet food directly to consumers, increasing the accessibility of various pet food products. This convenience has contributed to the rising demand for pet food globally, particularly in the premium segment.
North America Dominates the Market
- In the United States (U.S.), pet ownership is prevalent in most households, with dogs being the favored choice over cats. Interestingly, animal shelters report a higher adoption rate for cats compared to dogs. According to the American Society for the Prevention of Cruelty to Animals, approximately 6.3 million animals enter shelters each year, and about two-thirds, or 4.1 million, successfully find new homes through adoption. This trend contributes to the expanding market for pet supplies.
- In recent years, the Canadian pet food industry has seen consistent growth, underscored by rising imports. This market is heavily swayed by a burgeoning preference for natural marketing claims, mirroring a wider consumer shift towards health and wellness. Due to limited domestic production, Canada continues to be a net importer of pet food. According to data from International Trade Center, (ITC Trademap) in 2023, Canada imported pet food worth over USD 1.3 billion, marking a 6% uptick from 2022, underscoring efforts to satiate domestic demand. Beyond just nutritional needs, Canadian pet owners are increasingly emphasizing their pets' skin and external health, driving a surge in the market for pet accessories.
- As of 2023, PetSmart led North America as the top pet specialty retail chain, boasting 1,665 stores. The company offers a diverse range of animals for sale and adoption, including dogs, cats, birds, fish, and reptiles. Additionally, PetSmart's expanding portfolio encompasses pet grooming services, dog training, and facilities for pet hotels and daycare. In 2023, Petco emerged as PetSmart's nearest rival, operating approximately 1,550 stores throughout North America.
Pet Supplies Industry Overview
The Global Pet Supplies Market exhibits consolidation, dominated by a handful of key players. Key market players include Mars Incorporated, Nestle (Purina), Colgate-Palmolive Company (Hill's Pet Nutrition Inc.), The J.M. Smucker Company, and General Mills. These leading companies primarily leverage strategies such as new product launches, partnerships, and acquisitions to strengthen their foothold in the market.
Pet Supplies Market Leaders
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Mars Incorporated
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Colgate-Palmolive Company (Hill's Pet Nutrition Inc.)
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The J.M. Smucker Company
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General Mills
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Nestle (Purina)
*Disclaimer: Major Players sorted in no particular order
Pet Supplies Market News
- September 2024: Pet Valu, a Canadian retailer specializing in pet food, treats, toys, and accessories, inaugurated its second-largest pet distribution center in the nation. Spanning 350,000 square feet and located near Vancouver, this facility bolsters Pet Valu's ambition to establish a dedicated pet specialty distribution network across Canada, thereby reducing its dependence on third-party storage solutions.
- September 2024: MHP, a Ukrainian agrotech group, has announced a USD 44.1 million investment to set up a new wet pet food production plant in Croatia, with operations slated to commence in 2026. The plant will initially produce 20,000 metric tons of wet pet food catering to cats and small dogs, with plans to ramp up production to 35,000 metric tons by 2028.
Pet Supplies Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Pet Ownership
4.2.2 Surge in Sales of Natural/Organic Products
4.2.3 Rising Pet Expenditure
4.3 Market Restraints
4.3.1 Increasing Prices of Supplies
4.3.2 Lack of Awareness in Selected Countries
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Pet Type
5.1.1 Cats
5.1.2 Dogs
5.1.3 Other Animal Types
5.2 Product Type
5.2.1 Pet Food
5.2.1.1 Dry Pet Food
5.2.1.2 Wet Pet Food
5.2.1.3 Pet Nutraceuticals/Supplements
5.2.1.4 Pet Treats
5.2.1.5 Pet Veterinary Diets
5.2.2 Pet Accessories
5.2.2.1 Pet Grooming Products
5.2.2.1.1 Shampoos and Conditioners
5.2.2.1.2 Combs and Brushes
5.2.2.1.3 Clippers and Scissors
5.2.2.1.4 Others
5.2.2.2 Pet Bedding and Feeding
5.2.2.3 Pet Clothing
5.2.2.4 Pet Toys
5.2.2.5 Pet Housing
5.2.2.6 Others
5.3 Distribution Channel
5.3.1 Convenience Stores
5.3.2 Online Channel
5.3.3 Specialty Stores
5.3.4 Supermarkets/Hypermarkets
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Russia
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 India
5.4.3.2 China
5.4.3.3 Japan
5.4.3.4 Rest of Asia Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Africa
5.4.5.1 South Africa
5.4.5.2 Rest of the Africa
6. COMPETITIVE LANDSCAPE
6.1 Key Strategies Adopted
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Mars Incorporated
6.3.2 Nestle (Purina)
6.3.3 The J. M. Smucker Company
6.3.4 Colgate-Palmolive Company (Hill's Pet Nutrition Inc.)
6.3.5 General Mills Inc.
6.3.6 North American Pet Products
6.3.7 Petmate
6.3.8 The Hartz Mountain Corporation
6.3.9 ZippyPaws
6.3.10 Multipet International
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Pet Supplies Industry Segmentation
The Pet Supplies Market caters to the daily needs of pets. Offerings in this market range from pet food, grooming products, and accessories to housing, toys, bedding, and feeding essentials.
The Pet Supplies Market is Segmented Into Pet Type (Cats, Dogs, Other Animal Types), Product Type (Pet Food, Pet Grooming Products, Pet Accessories), Distribution Channel (Convenience Stores, Online Channel, Specialty Stores, Supermarkets/Hypermarkets), and Geography (North America, Europe, Asia-Pacific, South America, and Africa). The Report Offers Market Sizing and Forecasts in Terms of Value (USD).
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Pet Supplies Market Research FAQs
How big is the Pet Supplies Market?
The Pet Supplies Market size is expected to reach USD 229.73 billion in 2024 and grow at a CAGR of 8.26% to reach USD 335.14 billion by 2029.
What is the current Pet Supplies Market size?
In 2024, the Pet Supplies Market size is expected to reach USD 229.73 billion.
Who are the key players in Pet Supplies Market?
Mars Incorporated, Colgate-Palmolive Company (Hill's Pet Nutrition Inc.), The J.M. Smucker Company, General Mills and Nestle (Purina) are the major companies operating in the Pet Supplies Market.
Which is the fastest growing region in Pet Supplies Market?
Asia is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Pet Supplies Market?
In 2024, the North America accounts for the largest market share in Pet Supplies Market.
What years does this Pet Supplies Market cover, and what was the market size in 2023?
In 2023, the Pet Supplies Market size was estimated at USD 210.75 billion. The report covers the Pet Supplies Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Pet Supplies Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Pet Supplies Industry Report
Statistics for the 2024 Pet Supplies market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Pet Supplies analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
