November 30th, 2022
Pet Foods Market size is projected to reach USD 104,178 million by 2028 from an estimated USD 76,553 million in 2021, growing at a CAGR of 4.5% globally.
Pet foods are foods for animals in the form of whole foods, snacks, dry foods, and wet foods for pet consumption. The pet food market includes sales of goods and services by entities associated with the manufacture of dog and cat food and other animal foods from ingredients such as grains, oilseeds, mill products, and meat products. In addition, the industry includes establishments that produce dog food, cat food, and other animal foods. In addition, pet foods are special foods made according to the nutritional requirements and standards of domestic animals that can be prepared from food materials of plant or animal origin.
The growing demand for dog food, coupled with increased traction in the premium pet food segment, is anticipated to drive the pet food market during the forecast period. The demand for dry food is experiencing rapid growth compared to other equivalent products due to its convenience in terms of storage and feeding pets without creating a mess. This is positively influencing urban consumers to increasingly opt for dry pet food. Canned food is more palatable for dogs and cats, since this type of product contains protein, fat, and some carbohydrates. Wet/canned pet food is easy to digest and therefore reduces yard cleanup activity to a minimum. The higher digestibility offered by wet food makes it preferable for cats and dogs with illnesses and those who are picky eaters.
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Key Prominent Players In The Pet Foods Market:
· Wagg Foods Ltd
· Kriser's Natural Pet
· Wellness Pet Company
· Gambol Pet Group Co., LTD
· Yantai China Pet Foods Co., Ltd. (“Wanpy”)
· Butcher’s Pet Care
· Royal Canin SAS
· Nisshin Seifun Group Inc.
· Affinity Petcare
· General Mills
· Hill's Pet Nutrition
· The J.M. Smucker Company
· Colgate-Palmolive Company
· Schell & Kampeter Inc
· Affinity Petcare and other major players.
Market Segmentation Of Pet Foods Market:
This research study comprises a comprehensive assessment of the market through far-reaching qualitative and quantitative insights and predictions. This report offers a classification of the market into imminent and niche sectors. Furthermore, this research study calculates the market size and its development drift at global, regional, and country levels from 2022 to 2028. This report contains the market breakdown and its revenue estimation by classifying it on the basis of product type, sales channel sales, application, and region. :
By Pet Type
By Food Type
· Dry Food
· Wet Food
· Nutritious Food
By Distribution Channel
· Specialized Pet Stores
· North America (U.S., Canada, Mexico)
· Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
· Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
· South America (Brazil, Argentina, Rest of SA)
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The growing trend of adopting dogs as family companions is expected to increase the demand for the product. Dogs in particular are witnessing an upward trend in terms of the concept of humanization of pets. This has resulted in an increase in the number of people who own dogs and feed them premium quality food. Furthermore, rapid urbanization is one of the key factors driving the market.
Impact of COVID-19 on the Pet Foods market
The COVID-19 pandemic had an adverse effect on supply networks. The pet food sector suffered in terms of supply and cash flow due to restrictions on the movement of raw materials. Demand for pet food, on the other hand, grew steadily in many parts of the world as people adopted more pets in response to a growing desire from companies during the lockdown. To meet this requirement, market players have shifted their focus from physical stores to e-commerce platforms.The convenience benefits associated with organic and natural dry pet foods are expected to drive demand for the product. Unlike most conventional pet foods, organic and natural pet foods are used on a large scale.
Key Points Covered in the Pet Foods Market Survey:
· Market estimates and forecast 2022-2028
· Key factors and restraints affecting the growth of the market.
· Analysis by segment, country, and by region
· Competitor mapping and benchmarking
· Brand share and market share analysis
· Key product innovations and regulatory climate
· Recommendation on winning key strategies
Table Of Content
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Pet
3.2 By Food Type
3.3 By Distribution Channels
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
To Be Continued……
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