Fish Based Pet Food Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[202+ Pages Report] According to Facts and Factors, the global fish based pet food market size was valued at USD 1407.89 million in 2022 and is predicted to surpass USD 4506.23 million by the end of 2030. The fish-based pet food industry is expected to grow by a CAGR of 15.65%.

Market Overview

Fish-based pet food refers to the food product manufactured, especially for pets, by including fish as a primary ingredient. Fish is high in protein and other essential nutrients for pets.

Moreover, this kind of pet food is also high in omega-3 fatty acids, which offer potential health benefits like skin and coat health. These products come in various forms, like treats, canned products, wet food, or dry cable.

Key Insights

• As per the analysis shared by our research analyst, the global fish based pet food market size is estimated to grow annually at a CAGR of around 15.65% over the forecast period (2023-2030).
• In terms of revenue, the global fish based pet food market size was valued at around USD 1407.89 million in 2022 and is projected to reach USD 4506.23 million by 2030.
• Increasing humanization of pets is driving the growth of the global fish based pet food market.
• Based on the packaging, the bag segment is growing at a high rate and is projected to dominate the global market.
• Based on the pet type, the cat segment is projected to swipe the largest market share.
• Based on the product, the wet product segment is likely to swipe the larger share of the market.
• Based on nature, the organic fish-based pet food segment is likely to dominate the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.

Growth Drivers

• Increasing humanization of pets is driving the growth of the global market.

There is a surge in the trend of treating pets as family members, which is a major factor driving the demand for high-quality pet foods in the market. With increasing humanization and people's growing disposable income, they are more willing to spend on premium and natural pet food, like fish based pet foods.

Furthermore, the surge in demand for specialized food like formulations for certain dietary requirements or health conditions has significantly propelled the growth of the market. Fish pet food has a lot of potential health benefits, and therefore, pet owners have a high preference for it.

Restraints

• Rise of e-commerce is likely to offer growth opportunities in the global market.

The rise in online retail channels like e-commerce platforms is offering convenience and accessibility to a wide range of pet food products. Moreover, the international expansion of the pet food market is introducing people to diverse pet food options like fish based pet food, and other premium quality dietary meals. This landscape is likely to foster growth opportunities in the global fish based pet food market.

For instance, Wilder Harrier Asian revealed its unique dog food that contains sustainable protein in November 2020. The major reason behind the launch of the new product line was to lower the release of hazardous chemicals and extend the product portfolio in Canada and the United States.

Opportunities

• Price sensitivity is likely to hamper the growth of the global market.

Fish-based pet food products, particularly the organic and premium varieties, are priced higher than other pet food products. However, it deters price-sensitive consumers and limits the adoption of fish-based pet products, thereby slowing down the growth of the fish based pet food industry.

Challenges

• Supply chain destruction is a big challenge in the global market.

The global supply of fish-based pet products is highly prone to disruption due to factors like geopolitical issues, climate events, and other diseases affecting the fish population. This interruption negatively impacts the availability and pricing of the products in the shopping stores.

Segmentation Analysis

The global fish based pet food market can be segmented into packaging, pet type, product, nature, and region.

By packaging, the market can be segmented into cans & cups, folding cartons, bags, pouches, and others. The bag segment accounts for the largest share of the fish based pet food industry. Bags offer convenience to both pet owners and manufacturers. These are light in weight, easy to handle, and come in different sizes to make them ideal for various proportions and storage requirements.

Moreover, manufacturing bags is a cost-effective option as compared to other kinds of packaging; therefore, it has more widespread use in the pet food industry. The bag is versatile in terms of branding, labeling, and design. Manufacturers are able to use different printing techniques and materials to create appealing and informative packaging for bags.

By pet type, the market can be segmented into birds, dogs, and cats. The cat segment is likely to dominate the global fish based pet food market in the forthcoming years. The increasing humanization of pets is revolutionizing the market. There is a surge in the trend of treating pets as family members, which is significantly boosting the demand for specialized and high-quality pet food products like fish-based pet food.

Also, there is an increase in cat ownership globally, which is further driving the demand for cat food products like fish-based meals. Also, manufacturers are coming up with premium cat food options tailored to specific dietary preferences or health concerns, which, in turn, is also likely to contribute heavily towards the growth of the segment.

By product, the market can be segmented into wet and dry. The wet product segment is anticipated to witness significant developments in the forthcoming years. Wet food is highly in demand by pets because of its varied texture and high palatability. Pet owners are more likely to choose wet pet food for picky eaters and pets with dental problems.

Moreover, the rising trend for premiumization in the pet food sector is also contributing to the growth of the segment. Pet owners are more willing to invest in high-quality and expensive products like wet pet food because of the premium formulation and additional nutrition benefits in the wet products.

By nature, the market can be segmented into conventional and organic. The organic fish-based pet food segment is poised to witness notable growth in the global fish based pet food market. Organic fish-based pet foods come up without herbicides, synthetic pesticides, or genetically modified organisms.

Therefore, its focus on organic and natural sourcing is attracting pet owners. Also, the production of these organic foods adheres to strict standards that prioritize environmental consciousness, animal welfare, and sustainability, which in turn is a major factor for the high growth rate of the segment.

Report Scope

Regional Analysis

• North America to dominate the global market.

North America accounts for the largest share of the global fish based pet food market due to the increasing demand for natural and premium products in the region. Also, consumers in the region are looking forward to nutritious & healthy pet foods, and fish-based pet food products align well with this surging trend.

Furthermore, pet owners are becoming more conscious of the health of their pets, leading to a high demand for high-quality protein-source pet foods like fish. Ethical sourcing and sustainability practice of ingredients like fish has become an important consideration for consumers. Therefore, brands are focusing on responsible sourcing, which is gaining traction in the market and contributing to the high growth rate of the regional market.

Asia Pacific is likely to grow significantly in the coming years because of the surge in pet ownership, particularly in countries like India and China. The growing disposable income of the people in the region is one of the major factors propelling the growth of the regional market.

Moreover, pet owners are now willing to spend more on premium food products like fish-based options, which is a major reason for the high demand for fish-based pet food products in the region.

Competitive Analysis

The key players in the global fish based pet food market include:

• Orijen
• Wild Earth
• CANIDAE
• Merrick Pet Care
• Ainsworth Pet Nutrition
• Blue Buffalo
• WellPet
• Nestlé Purina PetCare
• Mars Petcare
• Hill's Pet Nutrition

For instance, ZIWI Pets came up with a pet food product line for cats and dogs in 2020. The company innovated a multi-protein pet food diet which includes around five different varieties of fish in New Zealand.

The global fish based pet food market is segmented as follows:

By Packaging Segment Analysis

• Cans & Cups
• Folding Cartons
• Bags
• Pouches
• Others

By Pet Type Segment Analysis

• Birds
• Dogs
• Cats

By Product Segment Analysis

• Wet
• Dry

By Nature 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