Pet Food Market is valued at USD 89.65 Billion in 2020 and expected to reach USD 118.77 Billion by 2027 with a CAGR of 4.1% over the forecast period.
Global Pet Food Market: Global Size, Trends, Competitive, Historical & Forecast Analysis: Growing number of research and innovation activities in the field of pet food and increasing demand for natural branded nutritional pet supplements are the significant factors which are driving the growth of the Global Pet Food Market.
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Scope of Global Pet Food Market Report-
Pet food is food for the domestic animals like dogs, cats, horses, birds which are formulated based on requirement of nutritional need of the domestic animals. It is animal food intended for the consumption of domestic animals. Pet food generally consists of meat, byproducts of meat and chicken, cereals, grains, minerals, and vitamins which fulfill the requirement of nutrients and maintain the health of animals. Pet food used for the bird, cat, dog, cat etc. Bird foods used for birds that consists of variety of seeds. Fish food normally contains macronutrients, vitamins and trace elements required to keep captive fish in good health. Cat food contains both animal and plant materials fortified with vitamins and minerals. Dog food contains poor quality meats, additives. The pet foods are used in the various domestic animal farming, like bird food used for poultry farming and other bird farming, Cattle food used for the cattle farming and fish food used for the fish farming. First pet food was developed in England in 1860 and it was for the dogs. This dog food was in the dry, biscuit form. In 20th century, prepackaged pet food was developed in U.S.
The COVID-19 outbreak has witnessed a negative impact on the global pet food market. Due to lockdown the problems in processing, manufacturing and packaging activities of the industries which has disturbed the compete supply chain of this market thus, Covid-19 has shown a decline impact on the growth of global pet food market.
The pet food market report is divided into types of animals, form, and distribution channel, type of ingredients, and regions, & countries. On the basis of type of animal, the pet food market is divided into dog foods, cat foods, and other pet food, other pet food market is subdivided into bird food, fish food, and small mammal/Reptile food. Based on form of food, the market is divided into dry pet food, wet pet food and dog treats and mixers. Based on distribution channel, the pet food market is divided into hypermarkets, specialized pet shops, internet sales and others. On the basis of type of ingredients, pet food market is divided into animal derivatives, plant derivatives and synthetic.
Global Pet Food Market Segmentation:
By Type of Animal:
Dog foods
Cat foods
Other pet foods
By Form:
Dry Pet Food
Wet Pet Food
Dog Treats and Mixers
By Distribution Channel:
Hypermarkets
Specialized Pet Shops
Internet Sales
Others
By Type of Ingredients:
Animal Derivatives
Plant Derivatives
Synthetic
The regions covered in this pet food market report are North America, Europe, Asia-Pacific, and Rest of the World. On the basis of country level, the market of pet food is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Key Players for Global Pet Food Market Report
Some major key players for pet food market report cover prominent players like Hill’s Pet Nutrition, Blue Buffalo Pet Products, lnc, WellPet LLC, Nestle Purnia, The Hartz Moutain, General Mills lnc., Schell and Kameter lnc., The J. M. Smucker Company, Diamond Pet Food, Nutriara Alimentos Ltd., Royal Canin, Del Monte Food lnc., Colgate-Palmolive Company, Mars Incorporated, PetGuard, Harringtons, Simmon Pet Food lnc. Pllie Pet lnc., Heristo AG and others.
Growing Number of Research and Innovation Activities in the Field of Pet Food and Increasing Demand for Natural Branded Nutritional Pet Supplements are the Significant Factors Driving the Market Growth
Increasing number of research and innovation activities in the field of pet food and growing number pf product offerings in this industry are some of the major factors driving the growth of global pet food market. For instance; in 2020 Nestle Purnia industry launched pet food with plant and insect protein for both cats and dogs. Also, in 2018, they launched “Supercoat” a premium quality dog food. In 2019, Mars lnc. launched IAMS branded dog food. In recent years, the players in pet food market like J.M. Smucker, Nestle, and Mars lnc. have launched various innovative pet food products. In addition, the rising demand for natural branded nutritional pet supplements is another major factor fostering the growth of pet food market. For instance; according SPINS Pet Trends 2020, 55% of millennial pet animal owners are demanding the natural branded nutritional supplements for their pets. The pet parents are paying $49 billion on pet care, which comprises food, treats, supplies, and supplements. The growing concern about health of the animals and increasing preference of pet owners for natural branded nutritional supplements for their pets are also supplementing the market growth. Today’s pet owners are looking for ingredients that support overall health as well as manage health conditions and also avoiding ingredients which they feel hazardous or unsafe for their pets.
However, the strict regulations related to pet foods and rising cost of raw materials may hamper the growth of global pet food market. In spite of that, demand of private label pet food products may create an opportunity for the further growth of global pet food market.
North America is Anticipated to Dominate the Global Pet Food Supplement Market
North America is expected to dominate the global pet food market over the forecast period due to the rising trend of adopting pets and high disposable income in this region. For instance; according to American Pet Product Association (APPA) 2020, national Pet Owners Survey, 67% of U.S. households has a pet, which equals to 84.9 million homes. The shift from pet ownership to pet parenting has been famous trend; due to growing bond between pets and human shapes owner’s willingness to spend on pet food. This the trend of adoption of pets is increasing in North America.
Asia Pacific is expected to grow faster in this market owing to the increasing pet food production in this region. For instance; according to Alltech Global Feed Survey 2019, pet food production in Asia Pacific region grew by 13% from 2018. Also, according to Journal of Applied Science and Computations (JASC) 2018, the pet food market has evolved into more than $800 million. China, Japan, India, and South Korea are the major markets in Asia Pacific. Due to demand for functional pet food, increasing awareness about pet foods, the production of pet foods in Asia Pacific region is growing. Hence this factor is helping in the growth of global pet food market.
Key Benefits for Global Pet Food Market Report–
Global pet food market report covers in depth historical and forecast analysis.
Global pet food industry analysis research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global pet food industry report helps to identify opportunities in market place.
Global pet food market report covers extensive analysis of emerging trends and competitive landscape.
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