The Absolute Markets Insights has been monitoring the Pet Food Market and it is poised to grow by $ 114,500.0 bn during 2021-2030 progressing at a CAGR of 4.3% during the forecast period. The report on Pet Food market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering various vendors.
Some of the significant players functioning in the Pet Food market include Mars Petcare, Nestle Purina, Hills Pet Nutrition (Colgate-Palmolive ), Procter & Gamble, Diamond pet foods, Affinity Petcare (Agrolimen), Buddys Kitchen, Blue Buffalo, Del Monte Foods, Nutriara Alimentos Ltda., Total Alimentos, Darwins, Unicharm, Flint River Ranch among others.
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Pet food production grew a staggering 13% in the Asia Pacific region, led by growth in Indonesia, Taiwan, Thailand and Sri Lanka’s spending on pet food increased 2.9 percent to $29.07 billion in 2017. For pet supplies and over-the-counter medications, spending increased 2.7 percent to $15.11 billion. E-commerce is a major opportunity for the pet food manufacturers due to free delivery and good customer experience. Chewy and Amazon are the top e-commerce retailers for the pet food and their subscriptions programs provided by the two retailers are of great convenience.
The report provides both, qualitative and quantitative research of global pet food market, it also provides penetrative insights into the rational scenario and favored development methods adopted by key contenders. The report also offers extensive research on the key players in the market and detailed insights into the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by major players are also recognized and analyzed in the report. For each company, the report recognizes its headquarters, competitors, product/service type, application and specification, pricing, and gross margin.
Globally, Increase in pet ownership and acceptance of pets across the world are major growth rendering factors for pet food market. Increase in awareness about pet food, pet humanization trend led to an increase in health consciousness are some of the reasons behind the increase in foods more specific to pets. A survey of pet owners conducted by the Michelson Found Animals Foundation found that 70% of those who follow a diet for themselves have also put their pet on a special diet. For instance, 45% of pet owners on a protein-rich diet feed their pets protein-rich foods, whereas only 17% of owners not on a protein-rich diet feed their dogs in this manner. Alltech reported 26.6 million metric tons of pet food were produced globally in 2018, of which 8.8 million metric tons was produced in North America. 55% – 60 % of the households in America own at least one companion animal and most of which are dogs and cats.
Pet Food Market Segmentation:
By Pet Type
- Dogs
- Puppy
- Adult (1+ years)
- Mature (7+ years)
- Senior (11+ years)
- Cats
- Kitten
- Adult (1+ years)
- Mature (7+ years)
- Senior (11+ years)
- Others (Bird, Fish etc.)
By Food Type
- Dry
- Wet
Global Pet Food Market Regional Level Analysis
This research report covers North America, Latin America, Asia-Pacific, Europe and Africa on the basis of productivity. It focuses on the leading countries from the global regions. This report highlights the cost structure including cost of raw material and cost of manpower. It offers a clear picture of the various factors that will fueling the growth of Pet Food market. This research report analyzes and presents more accurate data which helps to understand the framework of the businesses. Macro and micro factors of the Pet Food market have been explained in detail. To discover the global opportunities several methodologies have been listed in the report.
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