Pet Food Market Research Report

 

Global Pet Food Market

According to the GMI Research forecasts that the increasing adoption rate of pets and the strong demand for premium pet food products are the two significant factors that are surging the CAGR to grow at 4.9% during the forecast period. Moreover, the pet food market research illustrates that the market was estimated to be USD 47,234.1 million in 2017 and is anticipated to touch USD 68,759.1 million by the end of 2025.

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Pet food is defined as a plant or animal material that is consumed by pets such as fishes, dogs, cats, or any other pet animal. The prepared pet food products are gaining traction among pet owners and offers an adequate amount of nutritional value to the pets. As per the pet food market analysis, this type of food products enhances the digestion power, improves dental hygiene, and helps in building a stronger immune system.

The major drivers responsible for the growth of the pet food market size include the increasing adoption rate of pets followed by the strong demand for premium pet foods. Additionally, the increasing disposable income of the middle-class population has surged the total spending capacity on pets. The one of the emerging market trend is keeping a pet as a companion of the owners. This factor along with the rising health concerns of the pets, the pet owners are now looking for healthy pet food options in order to maintain their animal’s health. Approximately 95% of the pet owners assume their pets as a part of their family; hence they are focusing on type of pet food given to their pets. The drastic shift in the consumer’s preference to opt for vegan and grain-free pet food products will boost the growth of the pet food market share in terms of revenue.

According to the pet food market report, the pet food products consists of vegetables, lamb meat, fruits, chicken meal, and other preservatives, which enhances the flavor, color, and texture of the food items. These factors will motivate the pet owners to opt for pet food products, thus boost the pet food market growth. The easy availability of pet food products across numerous platforms such as supermarkets, retails shops, and online stores will open new doors for the growth of the pet food industry market share. Various market players are emphasizing on product innovation, such as the launch of vegan and grain-free pet food products to capture to the changing demands of the pet owners. The UK pet food market size is projected to expand due to the increasing consumer awareness related to the exceptional advantages offered by the pet food products.

Key Players of the Global Pet Food Market:

·        Nestlé Purina

·        Mars Incorporated

·        Hill’s Pet Nutrition, Inc.

·        Blue Buffalo Pet Products, Inc.

·        The J.M. Smucker Company

·        WellPet LLC

·        Diamond Pet Foods

·        Deuerer

·        Omega Protein Corporation

·        Nutriara Alimentos Ltd.

Pet Food Market Segmentation:

Global Pet Food Market Report Segment by Product:

·        Dry Food

·        Wet/Canned Food

·        Nutritious Food

·        Snacks/Treats

·        Others

Global Pet Food Market Report Segment by Application:

·        Dog

·        Cat

·        Others

Global Pet Food Market Report Segment by Region:

·        North America

o   United States of America

o   Canada

 

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

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GMI Research is a full-service market research and business-consulting organization that offers global as well as medium and small businesses with bespoke industry and market analysis to help them in making the toughest business decision. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use not only the internal but also the external databases to cull out relevant information of the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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