The global market for dog food and snacks is set to grow at a compound annual growth rate (CAGR) of 4.5% between now and 2027, new data from Global Market Insights has found, following on from bumper sales during the pandemic.
Last year was one of the busiest on record for dog adoption and purchasing – according to the German Kennel Club (VDH), in 2020, there was a 20% increase in dog purchases compared to prior years – and this is likely to be a decisive factor in the growth of the category over the coming years.
Overall, by 2027, Global Market Insights state, the dog food and snacks market is expected to surpass a value of $90 billion (€76.66 billion).
Premium Pet Foods
In addition, there has also been rising demand for premium pet foods, including organic, natural and raw products. Over the forecast timeframe, the premium pet foods segment is expected to record a CAGR of around 5%.
Elsewhere, the dog treats and mixers category held a share of around 32% in 2020 and is expected to rise further as pet owners look to treat their newest family members.
When it comes to the main distribution channels in which dog food and snacks are typically purchased, hypermarkets and supermarkets recorded an industry share of 35% in 2020, the largest share of the market.
Within Europe specifically, a CAGR of around 4.3% is anticipated, according to Global Market Insights, with France, Germany and the UK leading the way in terms of revenue generation, boosted by the healthy pet food trend.
Globally, the market is dominated by major players such as Nestlé, Blue Buffalo, Mars Petcare, Nippon Pet Food, Colgate-Palmolive, Tiernahrung Deuerer GmbH, United Pet Group and J.M. Smucker, and innovation is rife across the sector.
For example, last year, Nestlé Purina launched new types of food for dogs and cats, which includes insects and plant proteins from millet and fava beans, providing a new product option in the category while also boosting its sustainability credentials.
In the UK, the combination of Brexit and COVID-19 supply concerns briefly led to a shortage of dog and cat food earlier this year.