Plant-based Pet Food Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[211+ Pages Report] According to Facts and Factors, the global plant-based pet food market size was valued at USD 8.97 billion in 2022 and is likely to surpass USD 13.98 billion by the end of 2030. The plant-based pet food market is expected to grow with a CAGR of 5.69% during the forecast period.

The report analyzes the plant-based pet food industry's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the market.

Market Overview

Plant-based pet foods are the ones made entirely from plant-sourced ingredients with no inclusion of animal-derived ingredients. These products are manufactured to provide a good dietary alternative to animal-based pet foods that include fish, poultry, or meat products. The major ingredients used in the preparation of plant-based pet food include legumes, grains, vegetables, fruits, and other plant-based protein sources.

Key Insights

• As per the analysis shared by our research analyst, the global plant-based pet food market size is estimated to grow annually at a CAGR of around 5.69% over the forecast period (2023-2030).
• In terms of revenue, the global plant-based pet food market size was valued at around USD 8.97 billion in 2022 and is projected to reach USD 13.98 billion by 2030.
• Startup ecosystem while coming up with new food offerings is likely to drive the growth of the global plant-based pet food market.
• Based on the distribution channels, the online sales channel is the fastest-growing segment in the global market.
• Based on the pet food types, the dry pet food segment is expected to dominate the global market.
• Based on the forms, organic pet food is gaining the most popularity in the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.           

Growth Drivers

• Startup ecosystem is likely to propel the growth of the global market.

The global plant-based pet food market is highly dynamic for new companies. However, there is immense space for plant-based pet food products with high nutritional value in the marketplace, which in turn is expected to accentuate the growth of the plant-based pet food industry significantly in the forthcoming years.

Several startups are coming up with unique offerings like vegan pets, organic food for particular pet breeds, food for particular deficiencies in pets, etc., which are highly bridging the existing gap between the different requirements of people and the food products available in the market.

Such a landscape is likely to give a significant boost to the growth of the industry during the anticipated period. For instance, Global Food and Ingredients Inc. in 2021 said to take over a manufacturing unit in Bowden. The manufacturing unit is said to produce plant-based pet food.

Plant-based Pet Food Market Restraints

• Misconceptions among pet owners are expected to hamper the growth of the global market.

A large number of people have misconceptions about plant-based pet food products. They assume that plant-based pet products lack adequate nutritional value for their pets. Also, there is a wrong perception around these products that they may cause deficiency or health issues in their pets. However, such a landscape is likely to restrict the growth of the global plant-based pet food market in the forthcoming years.

Opportunities

• Increasing humanization is expected to offer lucrative opportunities in the global market.

Plant-based pet food industry is constantly growing because of the increasing number of pet parents. Pet humanization is further making people spend heavy money on high-quality premium products for their pets to enhance their quality of life and overall health.

Therefore, they are looking forward to plant-based organic pet products that offer transparent labels and complete information regarding their sourcing and processing, which is further expected to widen the scope of the global market. For instance, PawCo said to launch its proprietary plant-based food pet food product, particularly made for dogs. It is expected to expand the market base of the company.

Challenges

• Digestibility is a big challenge in the global market.

Plant-based pet products contain different ingredients when compared to regular animal-based meals. Also, these ingredients have different digestibility rates for different breeds. Therefore, making plant-based pet products that are suitable for all species and is easily digestible is quite a big challenge for the manufacturers, which is expected to slow down the growth of the global plant-based pet food industry.

Segmentation Analysis

The global plant-based pet food market can be segmented into distribution channels, pet food types, forms, and regions.

By distribution channel, the market can be segmented into online sales channels, specialty stores, supermarkets, and hypermarkets. The online sales channel is the fastest-growing segment in the global plant-based pet food market. The growth can be attributed to the high penetration rate of high-speed internet and smartphones globally.

Additionally, the hectic lifestyle of people does not allow them enough time to shop for their daily essentials from local or nearby stores. Moreover, the wide availability of a large number of options further attracts consumers. Customers can find both domestic and international brands on online sales channels, which further increases the inclination of people toward the online distribution channel.

However, the supermarket and hypermarket segments are expected to grow parallel in the coming years due to the rising trend of shopping at physical stores while spending some time with family. Also, the increasing number of supermarket and hypermarket stores established by giant companies like Walmart will further support the growth of the segment during the predicted period.

By pet food type, the market can be segmented into treats, snacks, wet pet food, dry pet food, and others. The dry pet food segment is expected to dominate the plant-based pet food industry due to the increasing demand for vegan dry pet food products globally.

The high demand can be attributed to the convenience offered by these products. Dry products are easiest to store, offer a longer shelf life, and do not need refrigeration, thereby increasing the demand of the segment in coming years. Also, dry pet food is more cost-effective than wet ones, and they also require less time to prepare.

By form, the market can be segmented into conventional and organic. Organic pet food is gaining the most popularity in the global plant-based pet food market due to the growing trend of adopting healthier and more natural pet products. Pet owners are increasingly becoming more aware of the better quality of food for their furry companions. Organic pet food is a preferred choice because it avoids preservatives, synthetic additives, and genetically modified ingredients.

Additionally, several pet owners read the label and are interested in knowing what ingredients are exactly going into the pet's food. However, organic pet products come with transparent labels with a clear view of the production and sourcing processes, which in turn attracts the customer and makes them their ideal choices.

Report Scope

Regional Analysis

• North America dominates the global market with a considerable share.

Pet owners in North America are more environmentally aware. Additionally, people in the region are adopting plant-based diets for themselves, so they are looking for similar food choices for their pets with a view to maintaining the overall health of their pets.

Increasing concerns regarding animal welfare and environmental concerns are further likely to propel the growth of the regional market in the forthcoming years. Plant-based pet products help in reducing the total carbon footprint as compared to their meat counterparts.

Asia Pacific is expected to grow steadily in the global plant-based pet food market in the forthcoming years. The region holds immense potential due to the presence of emerging economies like China, Japan, and India in the region.

These countries are becoming good hotbed opportunities for global companies. Companies are increasing their investment in these countries due to the high urbanization, increasing disposable income of people, better talent, and easy presence of sources.

Europe is expected to witness considerable growth in the global plant-based pet food market owing to the European government program of "Clean Energy for all Europeans". The initiative has significantly boosted the sales of plant-based food all across the region and thereby is expected to lower energy consumption by 32.5% by the end of 2032.

Competitive Analysis

The key leaders in the global plant-based pet food market include:

• Wild Earth 
• Zuke's LLC 
• Yarrah Organic Pet Food B.V. 
• Wellness PetCo. Inc. 
• Sooper Treat 
• Soopa Pets 
• Pupums Inc. 
• Lord Jameson 
• Honest Paws LLC 
• Halo Pets 
• George Tsappis Isorropimene Zootrophe Ltd 
• Compana Pet Brands LLC 
• Bright Planet Pet LLC 
• Bramble Pets 
• Antos B.V. 
• Aistra 
• Addiction Foods LLC.

For instance, OMNI, a UK-based vegan pet food company, successfully raised 1.3 million euros in 2021. It is expected to expand the sales of the company.

The global plant-based pet food market is segmented as follows:

By Distribution Channels Segment Analysis

• Online Sales Channels
• Specialty Stores
• Supermarkets
• Hypermarkets

By Pet Food Types Segment Analysis

• Treats
• Snacks
• Wet Pet Food
• Dry Pet Food
• Others

By Forms Segment Analysis

• Conventional
• Organic

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America