Global Pet Food Market Hit $49 Billion in 2008

Growth attributed to willingness of pet owners to spend more money on food products.

Posted: Feb. 3, 2009, 3 a.m. EST

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The global pet food market, growing annually at about 5 percent, reached an estimated $49 billion in 2008, according to Packaged Facts, a division of Market Research Group.

The research group attributed much of the growth to the premiumization trend, in which pet owners have been willing to spend more for foods (both for themselves and their pets) with seemingly healthful ingredients, such as glucosamine, omega fatty acids, antioxidants and probiotics.

North America accounted for the largest slice (40 percent, or about $19.6 billion) of the global pet-food sales pie.

“Particularly in the United States, the premiumization trend goes beyond the tendency Americans have to be better educated about health and nutrition issues,” said Tatjana Meerman, publisher of Packaged Facts. “In addition, the pervasive humanization dynamic cannot be underestimated. Pet owners often view their pets as part of the family, or even as surrogate children. Thus they are looking for the safest and healthiest products possible.”

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Global Pet Food Market Hit $49 Billion in 2008

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Pat    Omaha, NE

2/5/2009 8:25:28 AM

I don't buy natural foods, but I do buy a high quality food for my kitty.

D    Indy, IN

2/3/2009 7:06:05 AM

I'd like to feed my cat better food, but he's allergic to something in the higher quality food.

Cathy    Hubbard, OH

2/3/2009 5:30:48 AM

I have found buying a quality food, you do not have to feed as much and the cats look MUCH healthier and shinier. I feed Solid Gold (MADE IN THE USA) Indigo Moon and my cats coats are like silk.

Eileen    Roanoke, VA

2/3/2009 4:09:06 AM

I do think that the price of cat food is increasing too fast I know that I think how much longer should I keep spending this much

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