- Report ID: BMRC 1333 | Number of pages: 200 | Publish Date: Jan 2021
Status: Published | Category: Food And Beverage | Delivery Timeline:
Pet Food Market is valued at USD 91.84 Billion in 2020 and expected to reach USD 130.94 Billion by 2027 with the CAGR of 5.2% over the forecast period.
Global Pet Food Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Increasing consumer awareness regarding natural and organic pet food products, rising concern regarding animal health, and the growing trend of owning pet animals are the factors that are expected to drive the growth of Global Pet Food Market.
Pet food is plant or animal material proposed for consumption by pets. Usually retailed in pet stores and supermarkets, it is specific to the type of animal such as dog food or cat food. Furthermost meat used for nonhuman animals is a byproduct of the human food industry and is not regarded as human grade. The unusual advantage of rice as an ingredient of pet foods is its easy digestibility and low allergic response. Brewer’s rice is most commonly used in pet foods because of the lower price. Otherwise flour, bran or whole-grain rice can be equally used. Extrusion process is the most common method of processing. Formulations of mainstream commercial pet foods are commonly based on nutrition research and many manufacturers assume animal nutrition studies. Ease benefits related to dry organic and natural pet food is projected to drive the product demand. Contrasting most conventional pet foods, organic and natural pet foods are being used on a large scale.
Global Pet Food market report is segmented on the basis of product type, application and region & country level. Based upon product type, pet food market is classified as dry food, wet/canned food, nutritious food, snacks/treats and others. Based upon application, pet food market is classified into dog, cat and others.
The regions covered in this Global Pet Food Industry report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Pet Food is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Pet Food market Report covers prominent players are like The J.M. Smucker Company, The Hartz Mountain Corporation, Mars Incorporated, Hill’s Pet Nutrition, Inc, Nestlé Purina, Lupus Alimentos, Total Alimentos SA, Blue Buffalo Pet Products, Inc., WellPet LLC, Diamond Pet Foods and others.
Wilsons Pet Food Launched New Eco Range of Raw Frozen
July 27th, 2020; After the successful launch of their Raw Frozen dog food in 2019, Wilsons Pet Food releases their new Eco packaging, both in their current Premium Complete Raw Frozen range and in their new core range of 80/10/10 Raw Frozen dog food.
Increasing Consumer Awareness Regarding Natural and Organic Pet Food Products, Rising Concern Regarding Animal Health and Growing Trend of Owning Pet Animals are the Factors which are Expected to Drive the Growth of Global Pet Food Market.
Major factors driving the growth of global pet food market are increasing consumer awareness regarding natural and organic pet food products, rising concern regarding animal health and growing trend of owning pet animals. Dry dog food is the most dominant type of pet food in the world. Dry food is witnessing rapid growth in demand as compared to other product equals owing to its convenience in terms of storage and feeding pets without creating a mess. This is positively influencing urban consumers to increasingly opt for dry pet food. According to the latest pet food industry statistics, the overall sales of dry dog food reached nearly USD35 billion in 2018. High trades growth has also been detected when it comes to dog treats (6%), dry cat food (5.5%) and finally, cat treats (9%). In addition, growing concern regarding animal health and increasing trend of owing pet animals are the factors which are also expected to supplement the market growth. According to Pet Industry Statistics & Facts for 2020, of the thousands of consumers surveyed, 30% of them reported that they make an effort to keep up with the latest pet trends.
However, growing concerns about pet obesity and pet food recollections by corporations may hamper the growth of the global pet food market. In spite of that, increase in possession of pets in developing nations and rise in e-commerce sales can provide various opportunities to the pet food market players.
North America is Expected to Dominate the Global Pet Food Market
North America is expected to dominate the global pet food market due to rising consumer awareness regarding the beneficial impact on pet health along with the increasing trend of humanization of pets in this region. According to pet statistic, approximately 6.5 million companion animals enter U.S. animal shelters nationwide every year. Of those, approximately 3.3 million are dogs and 3.2 million are cats. Also, Around 9% of healthy, adoptable dogs were euthanized in 2017 in Canadian shelters. Europe is second largest region in the pet food market. The rising trend of dog adoption as a companion for families is projected to propel the product demand in Europe. According to the European Pet Food Industry Federation, in 2018, the overall pet product sales reached USD39.5 billion in Europe (around USD 44 billion USD). Also, the Asia pacific regional pet food market growth can be attributed to the increasing demand for premium dog food.
By Product: Dry Food, Wet/Canned Food, Nutritious Food, Snacks/Treats, Others
By Application: Dog, Cat, Other
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
Key Benefits for Global Pet Food Market Report–
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Pet Food Market Size By Product (Dry Food, Wet/Canned Food, Nutritious Food, Snacks/Treats, Others) Forecast 2021-2027