Pet Food Market Witnesses Demand Surge in Grain-Free Food Segments
The global pet food market was valued at approximately USD 103.3 billion in 2023 and is projected to reach USD 139.29 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2030. This growth is primarily driven by increasing pet adoption, rising consumer awareness about pet health, and a growing trend of pet humanization, where pets are treated as family members. Key Market Trends & Insights Premiumization and Health-Conscious Products: Consumers are increasingly seeking high-quality, nutritious, and functional pet foods. This trend includes products with added benefits like probiotics, antioxidants, and organic ingredients. The demand for premium pet food is expected to continue rising as pet owners become more health-conscious about their pets' diets. Shift Towards Natural and Raw Diets: There is a growing preference for natural and raw pet foods, such as Biologically Appropriate Raw Food (BARF) diets. These products are perceived to be...