The Report Pet Food Market Size,
Share & Trends Analysis Report By Product (Dry, Wet/Canned, Nutritious,
Snacks/Treats), By Application (Dog, Cat, Others), By Region, Competitive
Landscape, And Segment Forecasts, 2012 - 2022
The global pet food market size is projected to
reach USD 98.81 billion by 2022, according to a new report by Grand View
Research, Inc., exhibiting a 4.3% CAGR during the forecast period. Rising trend
of pet adoption is expected to be a major driving factor over the coming years.
Increasing number of
nuclear families in emerging economies of Asia Pacific, particularly India,
China, Vietnam, and Indonesia, has resulted in the growing trend of pet
adoption and this is expected to drive market growth over the forecast period.
Rising need for nutritious, healthy, and organic pet food on account of
increasing awareness regarding animal health is expected to augment market
demand.
Increasing life
expectancy across the globe has led to older generation adopting pets to guide
them through routine chores; this is expected to fuel pet food demand over the
forecast period. Innovation in specialty, premium, and gourmet pet food
products and packaging techniques is expected to propel growth in larger
markets of U.S., Europe, and Japan.
Natural and organic
products were once a niche segment in the industry; however, major food
manufacturers today, such as Nestle’s Purina, Mars’s Pedigree, and Del Monte
Foods, market natural products sold at major retailers. This is likely to have
a positive impact on the market over the forecast period.
Major key players
include Big Heart Pet Brands, Unicharm Corporation, Mars Incorporated,
Colgate-Palmolive Co., Nestle SA, Lupus Alimentos Ltda, and Total Alimentos SA.
These players are actively involved in new product development to provide high
nutritional value to pets.
Access
Research Report of Pet Food Market@ www.grandviewresearch.com/industry-analysis/pet-food-industry
Further key findings from the report suggest:
· Demand for dry products is anticipated to
exhibit a CAGR of 2.5% in terms of volume from 2015 to 2022 owing to handling
convenience. It does not require special handling and can be stored easily
· The wet/canned segment is projected to
expand at a CAGR of 4.9% in terms of revenue over the forecast period due to
increasing demand for products with high water content
· Demand for dog products is predicted to
rise at a CAGR of 2.7% in terms of volume from 2015 to 2022 on account of
rising trend of dog ownership across the globe
· In 2014, approximately 83.3 million dogs
were taken in as pets in U.S. Demand for dog food is expected to rise at a CAGR
of 2.5%, in terms of volume, over the forecast period
· A number of manufacturers are involved in
new product development. For instance, in March 2014, Big Heart Pet Brands
added a new product to its Milk-Bone brand called brushing chews.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/animal-feed-and-feed-additives
Grand View Research has
segmented the global pet food market on the basis of product, application, and
region:
Pet Food Product Outlook (Volume, Kilo Tons; Revenue, USD
Billion, 2012 - 2022)
·
Dry Food
·
Wet/Canned Food
·
Nutritious Food
·
Snacks/treats
·
Others
Pet Food Application Outlook (Volume, Kilo Tons; Revenue,
USD Billion, 2012 - 2022)
·
Dogs
·
Cats
·
Others
Pet Food Regional Outlook (Volume, Kilo Tons; Revenue,
USD Billion, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
Rest of The World
Access Press Release of
Pet Food Market@ www.grandviewresearch.com/press-release/global-pet-food-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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