How Pet Care Companies Are Formulating Strategies to Introduce Novel Products in the Market

Recent trends in the pet care space are being impelled by an upsurge in spending on pet products. The high expenditure areas include grooming, pet ownership, healthcare, food, and pet insurance, among others. Numerous pet care companies are formulating new strategies for the introduction of novel products in the market.

According to a report published by Fortune Business Insights, the global market for pet care was valued at USD 235.32 billion in 2022. The market is set to expand from USD 246.66 billion in 2023 to USD 368.88 billion by 2030, exhibiting a CAGR of 5.92% over the forecast period. The market expansion is majorly being driven by a shift toward dietary food items for avoiding unexpected weight loss and obesity.

Enlisted below are the top 10 pet care companies that are poised to influence the future of this industry in the forthcoming years. Some of the strategies adopted by these industry players comprise merger agreements, partnerships, collaborations, research & development activities, and formation of alliances:

Fortune Business Insights™ Profiles Top 10 Pet Care Companies

1. Mars, Incorporated

Mars, Incorporated is a U.S.-based food manufacturer operating in four business verticals, Mars Wrigley, Mars Edge, Petcare, and Food. The organization operates in more than 80 countries with a workforce of more than 140,000. Whiskas, Pedigree, Winergy, Royal Canin, Sheba, and Orijen are some of Mars’ brands.

In May 2022, the company hit the headlines for the launch of IAMS, a premium cat food brand, in India. The brand featured four dry variants for adult cats (1+ years) and kittens (2 to 12 months).

2. Nestle S.A.

Nestle S.A., one of the top pet care companies, is a Switzerland-based food & beverage company with more than 2,000 local and international brands across the globe. The company has a workforce of 275,000 and is operational in more than 188 countries. The brands of the company include Purina Friskies, Purina Felix, Purina Fancy Feast, Purina One, Purina Porpla, Purina, Purina Cat Chow, Purina Dentalife, and Purina Gourmet.

In August 2022, Nestle S.A. made big news by acquiring Indian pet food manufacturer Purina Petcare India for a value of USD 15.95 million.

3. Spectrum Brands Inc.

Spectrum Brands Holdings is a U.S.-based home-essentials company. The organization is known for supplying residential locksets, specialty pet supplies, shaving & grooming products, and small household appliances. The company’s pet care brands include Litter Maid, Furminator, SmartBones, DreamBone, Good’n’Fun, Tetra, Dingo, and GloFish.

In February 2022, Spectrum Brands rolled out the Nature’s Miracle brand focused on pet mess products manufacturing across the EMEA.

4. Symrise

Symrise is a Germany-based food and beverage manufacturing company centered on pet food nutrition, pet nutrition, and pet food palatability. The portfolio of the company covers almost 35,000 categories that are sold in more than 150 countries. In May 2022, the company made it to the headlines for the acquisition of Wing Pet Food. The acquisition accelerated the diversification of the company’s products in the pet food area.

Besides, in April 2022, Symrise Pet Food announced a USD 65.50 million investment for building a new state-of-the-art facility in South Carolina.

5. The J.M. Smucker Company

The J.M. Smucker Company, based in the U.S., is operational in the dog snack & cat food and coffee categories. Some of the company’s brands include Uncrustables, Meow Mix, 9Lives, Folgers, Pup-Peroni, Smucker’s, Milk-Bone, Café Bustelo, and Rachael Ray Nutrish.

In July 2021, the company hit the headlines for the launch of two new pet care products. These comprised the Rachael Ray Nutrish Big Life Hearty Beef (veggies & brown rice recipe) and Rachael Ray Nutrish Big Life Savory Chicken (veggies & barley recipe). The products were launched for dogs weighing 30 pounds and above.

6. Unicharm Corporation

Unicharm Corporation is a Japan-based manufacturer of disposable hygiene products and pet care products. The company has seven manufacturing units and operates in more than 80 countries. The brands of the company include Best Balance, Grand Deli, Aiken Genki, Manner Wear, Silver Plate, Neko Genki, Deo Toilet, and Deo Sheet.

In February 2023, Unicharm Corporation rolled out Deli-Joy in Indonesia. The cat-treat range has been claimed to feature 100% real fish ingredients.

7. Hill’s Pet Nutrition

Hill’s Pet Nutrition is a U.S.-based pet food company focused on Science Diet, Prescription Diet, Bioactive Recipe, Ideal Balance for Dogs and Cats, and Treats.

In March 2023, Hill’s Pet Nutrition rolled out a new clinical nutrition solution dubbed Prescription Diet ONC care. The solution has been developed for nourishing and supporting pets with cancer. Back in March 2022, the company launched a new pet food focused on weight management. The pet care product was centered on the improvement of joint health and obesity problems in dogs.

8. Diamond Pet Foods

Diamond Pet Foods is a U.S.-based manufacturer of pet food. Some of the company’s brands include Diamond Care, Diamond Naturals Gain-Free, Diamond Naturals, Diamond, and Diamond PRO89.

In October 2022, Diamond Pet Foods announced an investment of USD 260 million for establishing a new unit in Rushville, Indiana. Covering an area of 700,000 square foot, the new facility would add 170 new jobs to the workforce.

9. Tiernahrung Deuerer GmbH

Tiernahrung Deuerer GmbH is a Germany-based manufacturer of dog and cat food. The company is operational in the pet care sector of more than 20 countries and has a workforce of more than 1,800 employees. On a yearly basis, the company sells more than 300 million trays and 1 billion pouches.

10. Heristo Aktienesellschaft

Heristo Aktienesellschaft is a Germany-based company specializing in pet food, meat processing, and foreign trade of food sectors. The organization has a workforce of 80 employees. It operates through Meat 2000, Saturn Petcare, Buss, Ferdi Fuchs, Stockmeyer, Blacerzak, Froh Natur, Miller ConSup, Animonda, and YouCook.

Future of the Pet Care Industry 

In the years to come, a rise in the number of advanced initiatives by pivotal industry players is touted to propel industry expansion to a remarkable extent. Additional factors favoring market growth include the increasing rate of consumption, rising pet ownership, and an escalation in infrastructure facilities.