The Rise of Pet Haute Cuisine

The premium pet food market is booming as pet parents demand more than plain old kibble.

February 18, 2025 • Reading Time: 8 minutes

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Pet parents increasingly see their companion animals as family. Which means they’re now giving pet food virtually the same consideration as their own.

The premium pet food space spans a wide range of options: refrigerated or frozen preservative-free fresh meat; breed-specific formulations; human-grade meals tailored to an individual pet’s age, weight, and health concerns; organic, soy-free, gluten-free, postbiotic.

And if that doesn’t sound appetising enough, there’s also a “superpremium” category that includes freeze-dried raw, frozen raw and raw-coated food.

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News Bites

Pets are increasingly seen as family members. (Photo Laula Ko)

🐾 At a Glance

Global: The global premium pet food has posted a CAGR of 4.4% since 2019, and is projected to reach US$3.2 billion by 20301 .

U.S.: Premium pet food made up 4.9% of total U.S. pet food sales in 20231 .

China: While estimates of China’s premium pet food market segment vary, the country’s overall pet food market was valued at US$22.2 billion (RMB159.5 billion) in 2024, and grew at a CAGR of 22.4% from 2013 to 2024, well above the global average2 .

Thailand: Another regional high-growth market is Thailand. The country’s pet food market is expected to grow at a CAGR of 10.2% from 2025 to 2029  to reach a market value of US$915.5 million3 . 

🐾 Market Opportunities

U.S.: As competition increases in the premium pet food space among established brands, superpremium options are expected to become more in demand. Ollie, Spot & Tango, Freshpet and The Farmer’s Dog are some of the big names in the premium segment.

China: Market penetration of pet food in China is only approximately 20%, much lower than a typical market share of 90% in North America in Europe. This indicates a substantial growth opportunity as China’s post-80s and ‘90s generations drive demand for high-nutrition pet food. The U.S. is by far the biggest importer of pet food to China2 .

Interestingly, pet owners in China appear to prefer cats. Last year, China was home to 52.6 million pet dogs (up 1.6% year on year) and 71.5 million pet cats (up 2.5% year on year)2 .

Thailand: Thailand’s premium and super-premium segments are growing rapidly. Pet ownership is also growing fast, by approximately 10% every year. Thailand’s premium and superpremium pet food segment make up an estimated 25% of the country’s pet food market, and are growing at double the rate of the wider pet food market4 .   

Cat, who like sweets 🍭

Photo: Anastasiia Rozumna

🐾 Potential Challenges

So far, so rosy! However, as always there are several factors to keep in mind when exploring opportunities in the higher-end pet food market:

  • Cost Sensitivity: Better quality comes at a price. While demand is growing for higher-quality pet food, demand may be lower among budget-conscious consumers. The daily cost of raw pet food is US$17.50 to US$19.50. In comparison, mass market dry food costs US$0.55 to US$1.21 per day1 .

  • Regulation: China and Europe tend to have have stricter regulations on pet food ingredients and labeling than the U.S..

  • Market Nuances: International brands hoping to tap overseas pet food markets will need to recognise unique local spending patterns. For example, China’s local ‘Valentines’ Day’ falls on January 11. According to online retailer Tmall, in the first hour of January 11 this year alone, 15 pet brands saw transactions exceeding RMB10 million (US$1.37 million)6 .

  • Domestic competition: Thailand is largely saturated by local pet food companies. However, Thailand’s pet food market is dominated by local brands: Thai-owned brands hold a 94% market share, and imported brands only 6%2 . Major local companies include Thai Union, Betagro and CP. Foods, who are also investing significantly in pet nutrition R&D.

    Meanwhile in China, competition is rising from domestic companies such as China Pet Foods and Guaibao Pets.

🐾 The Outlook

Overall, the premium pet food space looks set for further growth, with pet parents increasingly seeking high-nutrient alternatives to traditional pet food.

  • Expect more innovation in premium pet food offerings globally. These are expected to include: lab-grown meat and functional foods & supplements that promote gut health, joint care, and immunity.

  • Also watch out for brands targeting emerging markets by adapting flavours and ingredients to local tastes.

  • However, while growth opportunities are significant in emerging premium pet food markets like China and Thailand, domestic competition is substantial.

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1. Lehman, J. et al., Premium Pet Food - Industry Snapshot, Ankura, 30 May, 2024, https://angle.ankura.com/post/102j84u/premium-pet-food-industry-snapshot [Accessed 13/02/25]

2. Pet Food Market Update 2024, United States Department of Agriculture Foreign Agricultural Service, 10/12/24, https://www.fas.usda.gov/data/china-pet-food-market-update-2024 [Accessed 12/02/25]

3. Statista, Pet Food - Thailand, Statista Market Insights, July 2024, https://www.statista.com/outlook/emo/food/pet-food/thailand#revenue [Accessed 12/02/25]

4. Pet Food Market in Thailand, Flanders Investment & Trade, 31/12/20, https://export.flandersinvestmentandtrade.com/sites/fit_domains/files/media/report/Pet%2520food%2520market%2520Thailand_2.pdf [Accessed 12/02/25]

5. 21经济网, 猫狗消费越来越火爆！网红品牌密集涌现，宠物股业绩大增, 25/10/24, https://www.21jingji.com/article/20241025/herald/ac06ff52866026b555c55be9c7d21984.html [Accessed 12/02/25]