Industry Insights
Global pet food market size was estimated over USD 70 billion in 2014. Stringent regulations regarding nutritious and quality food for pets is likely to fuel demand for these products. The market is driven by many factors such as rapid humanization of pets, increasing trend of nuclear families, and rising awareness regarding pet health. Increasing ownership of pets and development of e-commerce as an upcoming distribution channel is expected to boost demand over the forecast period.
Raw materials used in the manufacturing of the pet food are seeds, suet, plant derivatives, meat, insects, and others. Other components used are vitamins, additives, and essential nutrients. Many owners are buying organic pet food products for their pets to improve their health. The demand for organic ingredients with good nutrition profile is expected to boost market growth.
Full Research Report On Global Pet Food Market Analysis available at: https://www.millioninsights.com/industry-reports/pet-food-market
Product Insights
Dry food was the major product segment in the pet food market and accounted for over 8,000 kilotons in 2014. The dry product contains high nutritional value ingredients which help in puppy’s growth. The growing demand for these products has led to many manufacturers adding them to their product portfolio.
Snacks products are projected to witness moderate growth over the forecast period. Growing demand for nutritional foods coupled with concerns of obesity among pets due to consumption of snacks is expected to reduce their demand over the forecast period.
Application Insights
Dog pet food accounted for over USD 42 billion in 2014. The growing preference for the dog as pets is expected to propel demand for these products. Rising urbanization and increasing disposable incomes are some of the major factors which are expected to have a positive impact on market growth. In 2014, cat food application segment contributed over 30% in terms of volume. The presence of amino acids in these supplements is expected to boost the demand for these products.
Regional Insights
In 2014, the demand for pet product in North America was over 7,500 kilotons. The demand in the region is driven by growing number of nuclear families adopting pets such as dogs, rabbits, turtles, and cats. The rising dog population in U.S. coupled with growing trend of adoption of small dogs is anticipated to drive market growth.
The demand in Asia Pacific is expected to grow rapidly at a CAGR of 3.6% from 2015 to 2022. The demand in this region is driven by China, India, Vietnam, and Japan The presence of a large number of low-cost products is expected to boost market growth. Healthier and better quality products, shorter product lifecycles, product innovation and convenience are the major factors driving the demand for these products.
Request for Free Sample Copy @ https://www.millioninsights.com/industry-reports/pet-food-market/request-sample
Competitive Insights
The market is dominated by Nestle SA, Proctor & Gamble, Colgate-Palmolive, Marc Inc., Del Monte. The other industry participants include Mogiana Alimentos SA, Uni-Charm Corp., Total Alimentos SA, Agrolimen SA and Nutriara Alimentos Ltd.
The market is oligopolistic in natures as top 5 companies account for more than 40% of the global share. Companies are involved in extensive R & D for new product development to improve their offerings and gain maximum market share.
Market Segment:
Pet Food Product Outlook (Revenue, USD Billion, 2012 – 2022)
• Dry Food
• Wet/Canned Food
• Nutritious Food
• Snacks/Treats
• Others
Pet Food Application Outlook (Revenue, USD Billion, 2012 – 2022)
• Dog
• Cat
• Others
Pet Food Regional Outlook (Revenue, USD Billion, 2012 – 2022)
• North America
• Europe
• Asia Pacific
• Others
Related Reports of This Category Available at Million Insights: https://www.millioninsights.com/industry/food
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
For More Information: www.millioninsights.com
Media Contact
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: sales@millioninsights.com
Phone: 91-20-65300184
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
City: Pune
State: Maharashtra
Country: India
Website: www.millioninsights.com/industry-reports/pet-food-market