Global Pet Food Market to attain USD 62.4 BN by Revenue in 2025
Posted On June 05, 2019
The Global Pet Food Market is envisioned to cross USD 82.1 BN by 2025 with a CAGR of 4% between 2019 and 2025 according to the report released by Value Market Research. The pet food market was estimated to be USD 62.4 BN (by revenue) in 2018. The market has been segmented based on type, application, and region in the report. This report also covers list of major players along with their market share. Pet food is the specialty food products for domestic animals, meant to be consumed by pets. It has various plants and animals derived ingredients. They provide health benefits along with enhancing their overall growth. They can be categorized as wet pet food, kibble, dog food, dry pet food, fish food, cat food, bird food, dog treats, and cat treats. The primary ingredients of pet foods are byproducts of poultry, meats, and seafood, soybean meal, and feed grains. Animal parts that are added in the meals are bones, damaged carcass parts, cheek meat, and organs such as kidneys, intestines, liver, lungs, udders, spleen, and stomach tissue. Whereas some of the cereals grains that are added to pet food are corn meal, soybean meal, cracked wheat, and barley. Some of the additional ingredients that are used for dry foods include meat and bone meal, corn gluten feed, animal fats, and oils.
The pet food industry is growing at a significant pace and there are several reasons for this. The humanization of pets has drastically affected the demand for pet food as they are seen as family members, not animals which has resulted in the increased purchased of pet food. The rising number of outlets for pet food such as supermarkets and feed stores along with the increasing interest of owners on pet health and foods is expected to accelerate the market growth. Therefore, the pet food industry is growing and is likely to continue to do so owing to demographic trends that indicate that the number of pets will increase in the years to come, this will definitely favor the augmentation of the pet food industry.
The report "Global Pet Food Market Report By Type (Dry, Wet, Treat And Snacks), Application (Dog, Cat And Others) And By Regions - Industry Trends, Size, Share Growth, Estimation, And Forecast, 2018-2025" offer market intelligence study ensuring accurate data that will definitely benefit the interested party.
The market has been segmented based on type, application, and region. The type segment includes dry, wet, treat and snacks. Dry food products are dominating the market as it contains a high amount of nutritional value and is available in a wide range of price and variety. Important factors that are fueling the demand for dry food are handling convenience and longer storage. The application segment has been classified into dog, cat, and others. Dogs accounted for the highest share in the market and this is because dogs are considered as the friendliest animal among others and are kept across the home. Also, the availability of dogs’ food for the various breed is expected to have a positive impact on industry expansion. Regional segmentation covers North America, Europe, Asia-pacific, Latin America, the Middle East, and Africa. North America is dominating the overall market owing to rising urban phenomenon has resulted in higher adoption of various animals as companions in the region, thereby fueling the sales of pet food.
The Report Segments Global Pet Food Market -
- North America
- Latin America
- Middle East and Africa
Players Profiled In The Report:
Big Heart Pet Brands, Colgate-Palmolive Co., Lupus Alimentos Ltd., Mars Incorporated, Nestle SA, Procter and Gamble, Total Alimentos SA and Unicharm Corporation.
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