The Pet Food Market Report is a meticulous investigation of current scenario of the market, which covers several market dynamics. The Pet Food Market Report also provides an analytical assessment of the prime challenges faced by Pet Food Market currently and in the coming years, which helps Market participants in understanding the problems they may face while operating in this Pet Food Market over a longer period of time.
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Pet Food Market report studies the world market size of Pet Food in key regions like North America, Europe, Asia Pacific, Central & South America and Mideast & Africa, focuses on the consumption of Pet Food in these regions. The various contributors concerned within the price chain of Pet Food embrace makers, suppliers, distributors, intermediaries, and customers.
Market Overview
The global pet food market (henceforth, referred to as the market studied) was valued at USD 87.08 billion in 2019 and it is expected to register a CAGR of 5.4% during the forecast period (2019-2024). In 2019, North America is the largest geographical segment of the market studied and accounted for a share of around 39.2% of the overall market.
– Pet food industry is one of those industries, which has been performing well, despite the economic downturn. The world’s largest pet food markets are in the United States, France, Japan, and Germany, accounting for over half of the sales in pet food.
– According to the Association for Pet Obesity Prevention (APOP), 52.6% of the dogs and 57.6% of the cats in the United States are overweight or obese. This trend of rising obesity among pets mirrors human obesity patterns. As a result, the major players in the pet food market have started to follow human health trends, with foods to support weight loss.
– The major constraint identified in the growth of the global pet food market is the issue with the regulatory system.
Scope of the Report
The pet food market is segmented by animal type (dogs, cats, birds, and other animal types), product type (dry pet food, wet pet food, veterinary diets, treats/snacks, and organic products), ingredient type (animal-derived, plant-derived, cereals and cereal derivatives, and other ingredient types), sales channel (specialized pet shops, internet sales, hypermarkets, and other sales channels), pricing type (economic segment, premium segment, and super-premium segment), and geography (North America, Europe, Asia-Pacific, and Rest of the World).
Key Market Trends
Rising Trend of Pet Humanization
The shift in pet ‘ownership’ to ‘parenting’ has been a very crucial and defining trend in the pet food market, more so in the developed countries. Over a third of the households in the developed countries own a pet. Traditionally, pet owners fed their pet the leftovers and scraps from family meals. However, consumers are now becoming aware about that pet food and home-made food consist of separate nutritional elements, and that pets need to be fed a diverse range of food, as part of an adequate diet.
Buyers are looking for products, which are locally grown, or natural, or have digestive benefits. Hence, it is not a surprise that the sales of premium and specialized pet foods are higher than the sales of mid-priced products. Additionally, the pet humanization trend led to an increase in health consciousness and has generated demand for pet food free of sugars, grains, dyes, and other chemical additives.
North America Dominates the Pet Food Market
Increasing pet humanization and pet ownership, the emergence of private label store brands, and growing urbanization are some of the major driving forces propelling the growth of the North American pet food market. The market is driven by heavy influences from human nutrition, which is driving research to better and safer food for pets that have high nutritional and dietary benefits. Additionally, locally-sourced products and ethically-sourced products are propelling the market, due to the small manufacturers extending their presence in the domestic market.
According to the 2017-2018, National Pet Owners Survey, conducted by the American Pet Products Association (APPA), 68% of the US households (about 85 million families) own a pet. The expenditure on pets in the country increased from 41.2% in 2007 to 69.4% in 2017.
Competitive Landscape
Although, in 2016, the top players contributed around 45%-50% share of the total market, the pet food market is fragmented. However, a series of major deals among big players, like J. M. Smucker Company, Pamplona Capital Management, Spectrum Brands Holdings, and Nestle Purina Petcare, concluded recently, led to gradual consolidation in the market studied.
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Pet Food Market Analyse according to leading players, Competitive landscape, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2024. Geographically, this report is divided into many key Regions, with production, consumption, revenue (million USD), market share and rate of Pet Food Market 2019 in these regions, from 2018 to 2024 (forecast), covering: North America, China, Europe, Japan, Southeast Asia, India.
The Objectives of this report are:
- To define, describe, and analyze the Pet Food market on the basis of product type, application, and region
- To forecast and analyze the size of the Pet Food market (in terms of value) in six key regions, namely, Asia Pacific, Western Europe, Central & Eastern Europe, North America, the Middle East & Africa, and South America
- To forecast and analyze the Pet Food market at country-level in each region
- To strategically analyze each submarket with respect to individual growth trends and its contribution to the Pet Food market
- To analyze opportunities in the Pet Food market for stakeholders by identifying high-growth segments of the market
Key Questions Answered in Pet Food market report:
- What will the market size be in 2024 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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Pet Food Market Report Provides Comprehensive Analysis as Following:
Market segments and sub-segments
Market size & shares
Market trends and dynamics
Market Drivers and Opportunities
Market Analysis and Segmentation
Competitive landscape
Supply and demand
Technological inventions in Pet Food trade
Marketing Channel Development Trend
Pet Food Market Positioning
Pricing Strategy
Brand Strategy
Target consumer
Distributors/Traders List enclosed in Positioning Pet Food Market
Pet Food Market report provides you a visible, one-stop breakdown of the leading product, submarkets and market leader’s revenue forecasts till 2024. In conclusion, Pet Food Market 2019 report presents the descriptive analysis of the Pet Food Market Major Key-players, Types, Application and Forecast Period knowledge which is able to function a profitable guide for all the Pet Food Market competitors.
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