Published Date : 2025-Apr-15
The global pet food industry is booming, driven by rising pet ownership and increasing demand for premium, organic, and specialized nutrition products.
The market is expected to reach a value of $167.64 billion by 2034, at a CAGR of 4.5% over the forecast period (2025–2034).
Here are the top dominant players shaping the future of this multibillion-dollar industry.
The global pet food market has undergone a revolutionary transformation in the past decade with a deepening of consumer attitude shifts towards pet ownership and greater identification of pets as members of the family. The transformation directly influenced consumer spending because there was greater demand for quality, nutritionally complete, and specialty pet foods. With urbanization and increasing disposable incomes, particularly in developing nations, there are more and more households with the ability to pay and spend on premium pet care, which further fuels the pet food industry as well.
The market is being driven by a combination of indicators including increased pet adoption, increased concern for pet nutrition and health, and dissemination of information through the internet and other media regarding pet diet needs. This growing consciousness has also found the market generating segments of pet foods other than traditional dry and wet foods to organic, natural, grain-free, and functional pet food segments with specific disease-targeting characteristics like joint care, gastrointestinal care, allergy, and weight control. The humanization of pets has also stimulated demand for custom and gourmet foods mirroring human food trends such as plant-based and clean-label foods.
Innovation remains in the lead in the marketplace, and companies are investing in R&D to create innovative ingredients, packaging innovations, and delivery formats. The application of science-formulated ingredients and supplements with probiotics, antioxidants, and superfoods is on the rise. Sustainability issues also begin to drive consumers' purchasing behaviour as well as business decisions. Brands have reacted by hailing responsibly sourced ingredients, recyclable packs, and label openness. Growing demand for direct-to-consumer and e-commerce has also shifted selling and distribution of pet food, being more convenient and enabling small brands to reach more consumers.
Major industry players continue to be focused on seeking strategic alliances, acquisitions, and mergers for enhancing market position, line extension, and access to new consumer segments. Specialist and niche brands do, nonetheless, gain ground by addressing specialist consumer demands and capitalizing on digital media in developing core customer groups. Industry standards and government institutions more and more determine marketplace practice, prompting organizations to pursue enhanced levels of production quality and safety, along with labelling standards.
Headquarters: McLean, Virginia, USA
Founded: 1930
Employees: 100,000+
Revenue (2024): $21 billion (est.)
Overview: Mars Petcare is a global leader in pet nutrition and veterinary care. It operates as a subsidiary of Mars, Incorporated, a privately held, family-owned business with a legacy in food, nutrition, and care. Mars Petcare produces some of the most recognizable pet food brands worldwide, along with veterinary health services and diagnostics.
The company owns iconic brands like Pedigree®, Whiskas®, Royal Canin®, Iams®, Cesar®, Sheba® and Nutro®. They also operate veterinary services like Banfield and VCA.
Headquarters: St. Louis, Missouri, USA
Founded: 1894
Employees: Approx. 18,000
Revenue (2024): $17.5 billion
Overview: Nestlé Purina PetCare, a division of Swiss multinational Nestlé S.A., is one of the top two largest pet food companies in the world. With over a century of experience and a diverse portfolio of pet food and treat brands, Purina is a market leader in both mass retail and specialty veterinary segments.
This company produces brands such as Purina ONE®, Purina Pro Plan®, and Friskies®, Beneful® and Dog Chow®. Strong in North America and expanding in Asia.
Headquarters: Topeka, Kansas, USA
Founded: 1907
Employees: Approx. 3,500
Revenue (2024): $4 billion
Overview: Hill’s Pet Nutrition, a subsidiary of Colgate-Palmolive, is globally recognized for its science-backed pet food, particularly its Prescription Diet and Science Diet lines. With strong veterinary partnerships and research-based formulations, Hill’s is among the most trusted names in therapeutic and preventive pet nutrition.
Headquarters: Wilton, Connecticut, USA
Founded: 2003
Employees: Approx. 1,700
Revenue (2024): $2.5 billion
Overview: Blue Buffalo is a premium natural pet food brand based in the United States. Known for its wholesome ingredients and no by-product meals or artificial additives, Blue Buffalo has positioned itself as a leader in the health-conscious pet owner segment. It became a subsidiary of General Mills in 2018, allowing for significant market expansion.
Headquarters: Meta, Missouri, USA
Founded: 1970
Employees: Approx. 1,000
Revenue (2024): $1.5 billion (est.)
Overview: Diamond Pet Foods is a privately-owned company known for producing affordable yet premium-quality pet food for both dogs and cats. Its success comes from offering grain-free, high-protein, and natural formulations at competitive prices. The company is especially popular among breeders, hunters, and active pet owners.
The company is best known for its popular brands Taste of the Wild and Diamond Naturals, among others. It is one of the top five pet food producers in the U.S. by volume.
Headquarters: Tewksbury, Massachusetts, USA
Founded: 1926
Employees: Approx. 500
Revenue (2024): $1 billion (est.)
Overview: WellPet is a leading producer of natural, holistic pet food and treats, known for high-quality ingredients and wellness-oriented formulations. It operates under the ownership of Clearlake Capital Group, a private equity firm. The company houses several respected brands and has a strong presence in the premium and specialty pet food segment globally.
Makers of Wellness®, Holistic Select®, CORE® and Old Mother Hubbard®, known for high-end natural ingredients and holistic health focus.
Headquarters: Barcelona, Spain
Founded: 1963
Employees: Approx. 1,200
Revenue (2024): Approx. $700 million
Overview: Affinity Petcare is a leading European pet food company known for its commitment to animal welfare and nutrition. As part of the Agrolimen Group, one of Spain’s largest food conglomerates, Affinity is a major player in the development of premium dog and cat food brands, especially in Spain, France, and Italy. Popular brands include Ultima and Advance.
By region, Insights into the markets in North America, Europe, Asia-Pacific, Latin America and MEA are provided by the study. North America is the global leader in pet food, mainly because of high pet ownership rates, robust consumer purchasing power, and well-developed pet care systems. The market in the region is mature, which results in pet nutrition awareness, thus driving demand for premium, organic, and functional products. Major pet food manufacturers, along with extensive retail networks and advanced distribution channels, help ensure consistent product availability and innovation. The humanization of pets is very pronounced in North America, where pets are treated like family members and consumers are willing to spend money on high-quality nutrition and wellness products. This has promoted ongoing product innovation and brand rivalry in the market, underpinning its leading position.
Asia-Pacific is likely to be the most rapidly growing market in the global pet food market. The continent is experiencing high urbanization, rising disposable incomes, and an expanding middle class in individual nations, like China, India, and other Southeast Asian countries, which is also contributing to a shift in lifestyle and a rise in pet ownership among countries. As pet health awareness and the supply of branded pet food grow, consumers are increasingly moving away from home-cooked meals to commercial pet food. Growth in Asia-Pacific is further being driven by the growth in online retail platforms and attitudes toward pet care, making it a prime region of opportunity for global pet food brands.
Would you like me to add more details on specific companies or market trends? Let me know! CLICK HERE
Intellectual Market Insights Research is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including, Semiconductor, aerospace, Automation, Agriculture, Food & Beverages, Automotive, Chemicals and Materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports.
