Pet Food Market Set to Reach $170 Billion by 2032 Driven by Premiumization and Pet Health Trends

• Pet food market expected to reach $170.6 billion by 2032, growing at a CAGR of 4.8% • Rising awareness of pet health and demand for specialized pet foods are key growth drivers • Opportunities in sustainable and eco-friendly pet food products • Dog food is the largest and fastest growing segment by animal type • Key players include Mars Petcare, Nestlé Purina, J.M. Smucker Company, Hill’s Pet Nutrition, Diamond Pet Foods