20-Jan-2022 | Facts and Factors
“Pet Food Market By Product Type (Dry Pet Food, Wet Pet Food, Veterinary Diets, Organic Products, Treats and Snacks, and Others), By Animal Type (Dogs, Cats, Birds, and Others), By Ingredient Type (Animal-derived, Plant-derived, Cereals and Cereal Derivatives, and Others), and By Distribution Channel (Specialized Pet Shops, Online Channel, Supermarkets/Hypermarkets, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” states that the global demand for the pet food market in 2020 was approximately USD 87,200 Million . The market is likely to grow at a CAGR of 4.5% and is anticipated to reach around USD 90,500 Million by 2026
Pet food is referred to as animal feed used for consumption by pets. Moreover, it is generally sold in pet stores as well as supermarkets. Pet foods are typically specific to the animal type, like dog food or cat food.
The increase in consumer awareness concerning organic and natural pet food products is driving the manufacturers to change their focus from synthetic to natural and organic products, which in turn, is propelling the pet food market growth across the globe. The convenience benefits regarding dry natural and organic pet food are likely to boost the product demand as natural and organic pet foods are being used on the large scale. Moreover, the increase in the demand for dog food and the high traction in the quality-driven pet food products are expected to fuel the pet food market growth in the forthcoming years.
Furthermore, the increasing trend of dog adoption as a companion for families will probably expand the product demand. Mostly, dogs are witnessing an increasing trend on the basis of the concept of humanization of pets, which has resulted in numerous public owning dogs and feeding them with quality food. Also, fast urbanization is one of the major factors fuelling market development. Besides, the easy availability of pet food in the diversified platform that ranges from modern trade to online sales channels is resulting in the global pet food market growth.
The geographical split of the pet food market comprises North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. In terms of region, the North American market is becoming one of the key regional pet food markets owing to the increasing consumer awareness about the advantageous impact on pet health and the growing trend of humanization of pets. Another factor that is likely to fuel the regional market growth is the growing trend of adopting pets among millennials.
As stated by the American Pet Products Association, about 38% of the citizens have cats and two as an average number of cats per household across the United States. Also, the European region will expand in the global pet food as a result of the high rate of cat ownership. Besides, Japan, South Korea, India, and China are emerging to be the major markets in the Asia-Pacific pet food market.
BASF SE, Ingredion Incorporated, Cargill Incorporated, The Hartz Mountain Corporation, WellPet LLC, Big Heart Pet Brands, Lupus Alimentos, Nestlé Purina PetCare, Total Alimentos SA, Diamond Pet Foods, The J.M. Smucker Company, Deuerer, Heristo AG, Archer Daniels Midland Company, Colgate Palmolive, Hill’s Pet Nutrition Inc., Mars Incorporated, Blue Buffalo Pet Products Inc., and DuPont are various companies operating in the global pet food market.
Browse the full “Pet Food Market By Product Type (Dry Pet Food, Wet Pet Food, Veterinary Diets, Organic Products, Treats and Snacks, and Others), By Animal Type (Dogs, Cats, Birds, and Others), By Ingredient Type (Animal-derived, Plant-derived, Cereals and Cereal Derivatives, and Others), and By Distribution Channel (Specialized Pet Shops, Online Channel, Supermarkets/Hypermarkets, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” report at https://www.fnfresearch.com/pet-food-market
This report segments the global pet food market as follows:
Global Pet Food Market: By Product Type
- Dry Pet Food
- Wet Pet Food
- Veterinary Diets
- Organic Products
- Treats and Snacks
Global Pet Food Market: By Animal Type
Global Pet Food Market: By Ingredient Type
- Cereals and Cereal Derivatives
Global Pet Food Market: By Distribution Channel
- Specialized Pet Shops
- Online Channel
Global Pet Food Market: Regional Segmentation Analysis
- North America
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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