Innovation drives global pet care market

It is anticipated to reach $240b by 2029.

The global pet care market is projected to reach $240b by 2029, growing at a CAGR of 3% from 2024 to 2029, driven by a surge in health-focused innovations.

According to Euromonitor International, pet owners are increasingly prioritising health and nutrition, pushing brands to develop products with functional benefits and premium ingredients.

As consumers demand more nutritionally balanced and functional pet products, brands are launching new lines to meet this need.

Health claims and advanced ingredients are key selling points, allowing companies to charge premium prices. Despite economic challenges, consumer willingness to invest in high-quality pet products remains strong.

The rise of e-commerce and specialist pet retailers is also reshaping the market. Online platforms have expanded access for digital-first and direct-to-consumer brands, whilst pet superstores offer the infrastructure needed to showcase innovative formats like fresh, freeze-dried, and raw pet foods.

From 2019 to 2024, e-commerce in pet care grew at a 23% CAGR, whilst pet stores saw a 7% rise.

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