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Region : Global | Published Date: Upcoming | Report ID: FBI100554| Status : Upcoming
Global pet food market is observing a significant growth due to increased product offerings in animal food market and development of non-GMO and organic pet food products. Increased number of campaigns to spread awareness about proper pet care and diet is expected to positively influencing the pet food market. Rising concern about food intolerance or allergy among animals is further anticipated to fuel the growth of pet foods that are made with special ingredients and free from common allergens.
Key market players operating in the global pet food market are focusing on merger & acquisitions activities as well as product launches to maintain their prominence in the market. Nestle Purina Pet Care, Mars Inc., and Colgate-Palmolive Co. are some of the major market players operating in the global pet food market.
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Pet food market is a broad market that majorly covers common pets such as dogs, cats, birds, and others. Every pet has different nutritional requirement due to different mechanism of their digestive systems, hence choosing a correct pet food is very important. The major source of pet food are cereals, vegetables & plants, meat products, and fats. Pet foods are available through various sales channels; hence they are easily available for the customers.
Increasing ownership of pets across the globe, especially in countries such as U.K., U.S., and others is projected to fuel the growth of the pet food market during the forecast years. Rising number of nuclear households/families in developing economies is expected to further contribute in the growth of pet adoption, and ultimately pet food market. Increased number of pet food market players in the world will aid the growth of the market significantly in the forthcoming years.
Some people are allergic to animals, such as people suffering from asthma, which in turn can result in low adoptation of pets, and hence can obstruct the growth of pet food market in the forthcoming years.
Some of the key companies that are present in the global pet food market include Mars Inc., Nestle Purina Pet Care, Colgate-Palmolive Co., Wellpet LLC., Diamond Pet Foods, PetWell Partners LLC., Unicharm Corporation, Total Alimentos SA, Hills Pet Nutrition Inc., Blue Buffalo Company, PetGuard,Beaphar, among the other pet food manufacturers
By Product Type
· Wet Pet Foods
· Dry Pet Foods
· Snacks & Treats
· Vegetables & Fruits
· Meat Products
By Distribution Channel
· Specialty Retailers
· Online Channels
· North America (USA, Canada, and Mexico)
· Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of ME&A)
By product, global pet food market has been segmented into wet pet foods, dry pet foods, and snacks & treats. Wet pet food segment is projected to witness crucial rise in the forthcoming years, due to rising demand for high-energy pet food, as well as food that have high-water content (designed especially for the animals that do not consume enough water). The demand for dry pet foods is expected to expand continuously due to their higher shelf-life, easy storage, and low waste generation.
Meat & meat products are projected to hold the dominance in the global pet food market during the forecast period, owing to their high demand and consumption. Presence of high protein content and other essential nutrients in meat products that are required for the growth of pets is projected to fuel the segment’s growth. Production of meat & meat products for animal consumption is majorly achieved by using by-products of meat available for human consumption, hence it is a cost-effective pet food, which in turn will further fuel the segment’s growth.
At present, North America holds the major market share in the global pet food market and is expected to dominate the market during the forecast period, due to high pet ownership in the region, especially in the U.S. and Canada. According to the American Pet Product Association (APPA), 68% of the U.S. households own a pet. Anticipated increase in number of pet owners in North America, coupled with increase in number of local pet food market players due to lucrative opportunity in the market can further contribute in fuelling the growth of global pet food market of North America.