The global Pet Food market is witnessing rapid growth due to the rising number of pet owners. The growing concerns of owners regarding nutrition and balanced diets for their pets has prompted the rise of commercial pet foods and boosted the market. It seems likely that ingredients like omega-3 fatty acids, which are beneficial for health and frequently consumed by humans, will soon be commonly incorporated in pet food. Low protein, low ash and easily digestible pet foods enable owners to make sure that their pets stay healthy. According to Pet Food Institute (PFI), sales of cat and dog food rose to $19 billion in 2012. Pet owners are willing to spend more on products that promote the health and happiness of their pets. This trend makes pet food an attractive investment opportunity. Increasing disposable incomes, changing urban lifestyle, the growing tendency to view pets as status symbols, ongoing ‘humanization’ trends and homogenized preferences are driving the pet food market. The rising demand for premium and organic foods prompts manufacturers to produce high-quality products. Increasing awareness about health and health-related issues concerning pets, such as obesity, creates opportunities in the pet food industry.
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The global pet food market is primarily categorized on the basis of pet type, food type and geography. Pet type is classified into dog food, cat food, bird food, fish food and others, while the food type market is segmented into Dry Food, Wet/ Canned Food, Nutritious Food and Snacks/ Treats. This report segments the pet food market into four geographic regions, namely, North America, Europe, Asia Pacific and LAMEA. Key players in the pet food market are Mars Pet Care Inc., Nestle Purina Pet Care, Hill’s Pet Nutrition, P & G Pet Care, Del Monto Foods Corp., Heristo AG, Affinity Pet Care SA, Nutriara Alimentos, Unicharm Corp. and Total Alimentos SA.
The report provides an in-depth analysis of the pet food market which would help stakeholders to better understand market behavior
Based on the current market scenario and expected market trends, estimations through 2014-2020 are made to showcase the future prospects of the pet food market
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MARKET BY PET TYPE
MARKET BY FOOD TYPE
MARKET BY GEOGRAPHY
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