Owing to an increase in the nuclear families, aging population and growing urbanisation rates, people have started turning to animals for companionship. As a result, there has been a major rise in the global pet population in recent years, due to which, there has been an increase in the demand for pet foods. According to Expert Market Research, the global pet food market reached a value of US$ 103.65 Billion in 2019 and is further expected to reach US$ 137.32 Billion by 2025.
There are several factors that are stimulating the growth of the global market for pet food. With rising pet population, there has been a trend of pet humanisation which has made pet owners to treat their pets as their family members. Consequently, pet owners are now conscious about the well-being of their pets and are ready to increase their expenditure on nutritional and high-quality pet food. Moreover, increasing cases of obesity and other diseases among pets have augmented the demand for nutritious and organic products. Other factors like growing demand for premium products, easy availability of pet food, convenient packaging, innovations in flavours, and increase in variety and organic products are also fuelling the demand for pet foods.
Key findings from the report:
Expert Market Research has analysed the global pet food market according to type, major regions and top players:
Market breakup by Type
- Dog food
- Cat food
Market breakup by Major Regions
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Mars Petcare Inc.
- Nestle Purina PetCare
- Hill’s Pet Nutrition
- Big Heart Pet Brands
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"Global Pet Food Market: By Pet Type: Dog Food, Cat Food, Others; By Product Type: Dry Pet Food, Wet and Canned Pet Food, Snacks and Treats; By Pricing Type:Mass Products, Premium Products; By Ingredient Type: Animal Derived, Plant Derived; By Distribution Channel: Supermarkets and Hypermarkets, Specialty Stores, Online Stores, Others; By Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa; Historical Production and Consumption (2015-2019); Production and Consumption Forecast (2020-2025); SWOT Analysis; Value Chain Analysis; Trade Analysis; Price Analysis; Competitive Landscape & Supplier Analysis; Capital Investment"
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