Global Pet Food Market – Complete Industry Overview and Analysis
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The “Global Pet Food Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast” research study available on Decisiondatabases.com provides an in-depth outlook of the market along with an evaluation on the growth trends, market drivers, opportunities and restraints of the pet food market. The report foresees the global pet food market to reach over USD 130 BN by 2025 along with a CAGR of 4.75% from 2019-2025. The market was valued at USD 97 BN in 2018.
Pet food is product meant for consumption by pet animals. Pet foods constitute of macronutrients and micronutrients. It is manufactured using various combinations of ingredients to provide better health and immunity to pets through such supplements. These supplements are manufactured especially for animals such as dogs, cats, fishes and birds. Pet food consists of ingredients that are by-products of the human food industry but not of human-grade such as meat. Pet food companies have also come up with organic variants that are made using ingredients that are grown without the use of pesticides, synthetic fertilizers, hormones or antibiotics.
The demand for pet food has increased due to an increase in the number of adoption of dogs and cats globally owing to the rise in disposable incomes. Pet food helps in fighting skin allergies, infections and the duration of life of the pets and manufacturers have now introduced products specific to breed, age and size of pets in order to offer convenience to both the owners as well as the pets thus acting as major factors fuelling the growth of the pet food market globally. Pets are being adopted widely by nuclear families who wish to get rid of loneliness and have a companion in the form of a pet thus driving the growth of the global pet food market alongside as per the report. However, the rise in the number of cases of allergies among humans due to pets and the growing obesity issues among pets due to the usage of high-fat pet food may act as a restraint for the global pet food market
By type, the global pet food market can be segmented into dry pet food, wet/moist pet food and treats. Some other segments of the global pet food market by type are pet drinks, frozen/refrigerated pet food and pet snacks. Dry pet foods are the most preferred type of pet food in the global pet food market owing to dry food being the shareholder for over 30% of the market shares. By pets, dog food, cat food and fish food are the classifications of the global pet food market.They can be further sub-classified by active/outdoors, functional, gourmet, life stage, natural/organic, premium weight control and size/breed. Dog food has led this segment by accounting for a major share of over 60% of the market shares. By distribution channels, supermarkets & hypermarkets, specialty stores and online stores are the segments of the pet food market globally where supermarkets & hypermarkets account for over 40% of the market shares thus, emerging as the leading segment of the pet food market globally by distribution channels.
North America, Europe, Latin America, Middle East & Africa and Asia-Pacific are the regions over which the global pet food market is studied. North America has dominated the segmentation based on geography owing to being the shareholder for over 50% of the shares of the global pet food market. Health concerns of pets are the key factors responsible for driving the growth of the global pet food market in North America and Europe. Asia Pacific is a potential market owing to lifestyle changes and an increase in the number of pet owners.
The key players of the global pet food market profiled in the study are Nestle S.A, Mars Inc., Procter & Gamble, Big Heart Pet Brands, Tuffy’s Pet Foods Inc., Royal Canin, Hill’s Pet Nutrition (Subsidiary of Colgate-Palmolive). The report also covers an of each key player in terms of H.Q., future capacities, key mergers and acquisitions, financial overview, partnerships, collaborations and new product launches & developments.
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