Market Analysis
Market Research Future (MRFR) observed that the adoption in the concept of pet owner to pet adoption is expected to drive up the Global Pet Food Market growth. MRFR’s report on the global pet food market mentions that the market is expected to spur, attaining an impressive CAGR from 2016 to 2027 and a substantial valuation by 2027.
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Key Players
MRFR listed some of the eminent market contenders operating in the Global Pet Food Market. They are;
- Heristo AG,
- Mars Petcare Inc.,
- Big Heart Pet Brands,
- Nestlé Purina PetCare,
- Diamond Pet Foods,
- Spectrum Brands / United Pet Group,
- Blue Buffalo,
- Unicharm Corp.,
- Hill’s Pet Nutrition
- Deuerer
Market Insights
The hike in disposable income and the rising need for pet companionship are identified as predominant factors which are anticipated to propel the global pet food market growth. As the concept of pet adoption prevails, the concern about the health of pets is observed to rise. Previously, owners, those used to feed left food and meal scraps to their pet are becoming aware about pet food. This, in turn, is prompting the sales number of pet food. Thereby, is predicted to be a strong booster for the pet food market growth. Obesity is not only a grave matter concerning human, but also, pets. The growing number of obese pets is expected to impel the pet food market growth. The strong economic condition is expected to encourage pet adoption, hence, pushing the global pet market growth. The availability of various types of pet food is highlighting the option for choices. The liberty to choose the most suitable option for pets can fuel the pet food market expansion. However, issues generated during the approval of pet food is likely to act as a major restraint on the global pet food market growth in the coming years.
Segment Outline
The global pet food market has been segmented based on nutrition type, type, and application.
Based on the type, the global pet food market has been segmented into dry food, semi-moist food, canned food, and others. The dry food segment is to garner high revenue for the global pet food market, as numerous owners prefer dry pet food as the prime choice for their pets.
Based on the nutrition type, the global pet food market has been segmented into fat, protein, fiber, and others.
Based on the application, the global pet food market has been segmented into small pets, dogs, reptiles, birds, cats, aquatic, and others. The dog segment is expected to grow exhibiting an impressive CAGR over the assessment period. This is due to the high rate of adoption of dogs over other animals.
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Regional Analysis
North America is expected to dominate the global pet food market. The surge in disposable income of people is subsequently creating an urge for pet adoption, thereby, expected to spur the regional market. The growing urbanization in North America is also likely to benefit the pet food market. The availability of numerous pet food products, by established brands, those are operating in the North American market can impel the market growth soon. The improved understanding of pet nutrition among people and the rising need for pet companionship are other factors, which can escalate the regional pet market growth. MRFR noted that the pet food market in the Asia Pacific region is anticipated to be an emerging market over the upcoming years.
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