Global Dog Food Market Expected to Grow by USD 17.53 Billion from 2023-2027, Says Technavio

The global dog food market is set to experience significant growth in the coming years, with an estimated increase of USD 17.53 billion from 2023-2027. According to Technavio, the market is expected to grow at a CAGR of 4.9% during this forecast period. This growth is driven by a variety of factors, including the increasing emphasis on pet health and wellness among owners.

Pet owners are increasingly investing in quality nutrition for their furry companions, with regular veterinary check-ups and nutritional supplements becoming the norm. Endorsements from veterinarians for specific dog food brands are also on the rise, highlighting the importance of nutrition in pet care. Retailers are partnering with veterinary clinics to provide detailed product information and samples, helping pet owners make informed choices.

However, the urban lifestyle and busy work schedules pose a challenge to the growth of the dog food market. With more people working long hours and the rise of nuclear families, pet owners struggle to find time to properly care for their dogs. This has led to a growing demand for automatic and smart pet feeders to ensure consistent feeding schedules, although the high costs of these feeders are limiting their adoption in emerging markets.

The market segmentation includes dry dog food, dog treats and snacks, and wet dog food, as well as distribution channels such as retail and online. North America leads the market contribution at 32%, with key countries including the US, China, Japan, France, and Brazil. Key companies profiled in the report include Bravo LLC, Mars Inc., Nestle SA, and Wellness Pet Co. Inc.

Overall, the dog food market is expected to continue growing, driven by consumer preference for high-quality, nutritious, and affordable options. Brands are focusing on innovative product offerings and strategic partnerships to meet the evolving needs of pet owners. With increasing pet ownership and awareness of pet health, the future looks promising for the dog food market.