The Meteoric Surge of the Fish-Based Pet Food Market, Scaling from US$ 1.4 Billion in 2023 to an Astounding US$ 16.7 Billion by 2033

The fish based pet food market is registering a valuation of US$ 1.4 billion in 2023 and is projected to reach US$ 16.7 billion by 2033. The market is capturing a CAGR of 5% during the forecast period.

How Top Countries Are Uplifting the Global Market Size?

By 2033, it is expected that industrialised nations such as Germany, Japan, the UK, and India will control the majority of the global market. The market is expanding significantly due to factors like improved pet food expertise, increased disposable money, and growing desire for pet adoption. The industry is expanding as more consumers express a desire for premium pet food that is based on fish and comes from sustainable sources.

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The United States is dominating the global market by registering a share of 25.3% by 2033. The increasing number of pet owners, growing trends of pet humanization, and increasing adoption of nutritious pet foods are boosting the market growth. Around 67% of households in the United States are adopting pets, including cats, dogs, birds, and others.

These factors capture huge revenue in the United States market during the forecast period. The present key players are launching novel products to upsurge the market growth. The prominent key players in the global market include Pacific Bio Products, Purina, Freshpet, JustFoodForDogs, Mars Inc, and others.

These players boost sales through distribution channels, such as supermarkets, online retailers, suppliers, etc. These players can enhance their reach through distribution networks to meet relevant customers. These players are researching to develop innovative products in the global market.

Stringent Regulations Decline the Global Market Size

The market has several restraining factors that may limit the global market size. With the increasing consumer demand for alternative options such as vegan and plant-based pet foods, the market growth is declining. On the other hand, the lack of raw material supply and unavailability of pet foods are also declining the market growth.

The rising overfishing and advanced competitors’ strategies are other factors that may face challenges in the market growth. These are a few factors that can limit the global market growth.

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Key Takeaways:

  • The fish based pet food Induustry is securing a CAGR of 5% with a valuation of US$ 16.7 billion by 2033.
  • Historically, the market captured a valuation of US$ 9.1 billion in 2018.
  • The United States is estimated to register a share of 25.3% in the global market by 2033.
  • Germany is securing a share of 5.6% in the global market during the forecast period.
  • With a share of 4.0%, Japan is capturing a significant driving of the global market share.

Recent Developments in the Global Market are:

  • In 2021, Mars Inc announced its huge investment of US$ 200 million to expand the Royal Canin plant. This investment took place to add new corporations to enhance the production capacity.
  • In 2020, Nestle Purina PetCare invested around US$ 500 million to expand its business in Georgia.

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Fish-Based Pet Food Market by Category

By Nature:

  • Organic
  • Conventional

By Product Type:

  • Dry
  • Wet
  • Treat & Chews

By Pet Type:

  • Cat
  • Dog
  • Birds

By Packaging:

  • Pouches
  • Bags
  • Folding Cartons
  • Tubs & Cups
  • Can

Region:

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East Africa

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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