Global pet food market on the rise

Increasing pet adoption and a growing awareness of pet health are growth factors.

The global pet food market, valued at USD 99.10 billion in 2022, is projected to grow steadily at a 4.3% CAGR, reveals Emergen Research. Increasing pet adoption and a growing awareness of pet health drive this growth. Owners prioritize both physical and mental well-being for their pets, spurring manufacturers to innovate stress-reducing food products.

Plant-based foods offer digestibility, hypoallergenic properties and anti-inflammatory benefits, boosting dogs' immune systems and minimizing sickness. Choosing plant-based diets for pets can save numerous animal lives, significantly reducing meat consumption. For example, PawCo's recent launch of proprietary plant-based dog food showcases a blend of fruits, vegetables and plant-based proteins, meeting rising demands for diverse pet foods.

This trend is expected to fuel global market growth in pet food during the forecast period.

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