Pet Industry Growth: Opportunities in Global Markets
2 Min Read
While the United States pet market shows signs of slowing down, the international market, internationally, specifically in Asia, there is exponential pet industry growth. Plus, pet industry trends show that the international pet market was valued at $295 billion in 2022 and is projected to reach $400 billion by 2028 at a compounded annual growth rate of 5.22%.1
Specifically, the global pet food market is expected to reach $149.9 billion in 2024 and to compound 5.56% annually between 2024 and 2028.2 The pet toys market is expected to reach $15 billion by 2032, growing at a compounded annual growth rate of 6.7%.3 The snacks and treats market was estimated at $36 billion in 2023 and is expected to grow at a compounded annual growth rate of 11.8% to 2030.4
Pet Industry Growth Trends
| Pet Food Market | Pet Treats Market | Pet Toy Market |
|---|---|---|
| 5.56% Projected Growth | 11.8% Projected Growth | 6.7% Projected Growth |
| $149.9 Billion by 2024 | $36 Billion by 2030 | $15 Billion by 2032 |
Pet Industry Trends
Pet industry growth trends are driven by multiple factors, including:
- Strong pet ownership and adoption rates
- New consumer demand for healthier pet food options
- Increasing lifespan of pets
- Consumer preference for purchasing online vs. visiting brick-and-mortar stores
- More FDA involvement in pet food and treat trials
Private equity interest in the pet food, treats, and toys markets is prevalent. With ongoing pet industry market growth and expanding products and services in the pet food, treats, and toys markets, profitable opportunities for private equity firms continue to emerge.
Investor Insights
Investment opportunities for PE firms include:
- Private labels challenging branded products
- Grain-inclusive and limited-ingredient foods and treats
- Alternative food ingredients, including insect-based and synthetic proteins
- Socially, ethically, and environmentally responsible pet products
- Online-based retailers vs. brick-and-mortar stores
Find Your Pet Industry Investment
Apex Leaders matches private equity clients with highly experienced private equity advisors to develop an investment thesis that drives decisive decision-making. Take advantage of the opportunities found within the pet industry and capitalize on your investments. Contact us today to get started.
Resources:
1 Pet Care Market – Global Outlook & Forecast 2023-2028
2 Pet Food – Worldwide: Statista Market Forecast
3 PET Toys Market Size, Share, Growth, Trends: Forecast 2032
4 Pet Snacks And Treats Market Size & Share Report, 20