The global pet food market is projected to rise from €129 billion in 2024 to €227 billion by 2034, according to a new report by Allied Market Research. The study, Pet Food Market – Global Opportunity Analysis and Industry Forecast, 2025–2034, forecasts a compound annual growth rate of 6.1%, reflecting continued expansion fuelled by rising pet ownership, humanisation of pets, and growing demand for premium and functional nutrition products.
Dogs remain the dominant pet type, and dry food continues to lead the category due to convenience and longer shelf life. Specialised pet shops held the largest share of sales in 2024, though online channels are growing rapidly.
Market growth is underpinned by shifting household structures, higher disposable incomes, and increased focus on animal health. Around 95% of pet owners reportedly view their pets as family members, driving interest in premium, organic, and functional food options.
However, the report also highlights key challenges, including pet obesity and product recalls. Over half of US pets are now considered overweight, while contamination incidents have underscored the need for stronger safety and traceability measures.
Regionally, North America leads the market, supported by high pet ownership rates and strong demand for nutritious, protein-rich, and low-calorie foods. In Europe, growth is driven by smaller households and increasing investment in health-oriented and organic options, particularly in Spain, the Netherlands, and Poland.
Key players are focusing on innovation through functional ingredients, sustainable packaging, and personalised nutrition, as well as expanding through strategic mergers, partnerships, and direct-to-consumer models.
The findings point to a decade of strong growth potential shaped by evolving consumer expectations, digital transformation, and continued premiumisation across global pet food markets.