Pet Food Market is expected to grow at 5.5% CAGR during the forecast period 2019-2025
Published | 30 March 2019
According to BlueWeave
Consulting, the global Pet Food Market is anticipated to worth USD 87.05
billion by 2018, with a CAGR of 5.5% during 2019-2025. A multitude of health
issues has become a grave issue for pet owners. Pets are afflicted with
numerous diseases like digestive disorders, arthritis, brain aging, skin
allergies, and obesity.
Over the years, the growing
range of pet-owners has resulted in an intensive demand for pet food. There is
a vast population that has adopted the trend of keeping pets owing to the
nuclear family structure and changing lifestyle. The focus of individuals on
pet health and wellness is growing. Pet owners are excessively concerned about
pet health over the past few years on account of several problems, including
obesity. Diseases like diabetes, high blood pressure, and arthritis have been
significantly increasing among cats and dogs, causing immense discomfort and
pain.
Hence, owners have been
strictly shifting to low-calorie and high-nutrition products to maintain pet
health. The Food and Drug Administration (FDA) ensures that the ingredients
used in pet foods are enlisted on the labels based on weight. Besides, it
assesses claims on pet foods such as “maintains urinary tract health,” “low
magnesium,” and “hairball control,” which are anticipated to further propel the
demand for pet food globally, over the forecast years.
Among
products, dog food accounts for the largest market size in the global pet food
market during the forecast period.
Dog Food is the leading
segment in the overall pet food market and estimated to lead the market over
the forecast period. Dogs need various kinds of nutrients to live a healthy
life like fatty acids, minerals, water, proteins, carbohydrates, and vitamins.
Owing to their high nutritional value, lower generation of waste, and longer
storage, they are mainly targeted for the young animal. Pet owners have been
focusing on providing food that contains these nutrients to keep them healthy.
This is projected to fuel demand for nutritious food over the coming years. The
availability of a varied range of pet food products with various flavors and
nutritional values is propelling the global pet food market. Further, the
advantages associated with dry pet food like enriching environment and
convenience in cleaning teeth have fueled the growth of the product market.
Asia-Pacific
is the fastest-growing region of the global pet food market during the forecast
period.
Geographically, North America dominated the overall pet food industry and projected to lead the market over the forecast period. Rising necessity for nutritious, healthy, and organic pet food on account of increasing awareness regarding animal health is expected to augment market demand. Increasing life expectancy across the world has led to the older generation adopting pets to guide them through routine chores. Delayed parenthood in many urban areas of the country is also a trend saw in recent years, which is expected to enhance product demand over the coming years. Asia-Pacific is projected to have healthy growth throughout the forecast period.
Global
Pet Food Market Competitive Landscape
Companies such as Cargill,
Archer Daniels Midland Company, DSM, Nestle SA (Purina), DIAMOND PET FOODS
INC., Hill’s Pet Nutrition, Merrick Pet Care, Ainsworth Pet Nutrition, MARS
INC., Agrolimen SA, Nutriara Alimentos Ltd., WELLPET LLC, THE J. M. SMUCKER
COMPANY (BIG HEART PET BRANDS), HERISTO AG are the leading players of pet food
market across the globe.
Browse Detailed Analysis
with TOC, “Global Pet Food Market Size,
by Product (Dry, Wet/Canned, Nutritious, Snacks/Treats), by Pet (Dogs, Cats,
Fish, and Others), by Sales Channel (Specialized Pet Shops, Online Channel, and
Retail Stores), by Region (North America, Europe, Asia Pacific, Middle East
& Africa and Latin America), Trend Analysis, Price Trends Analysis, Competitive
Market Share and Forecast, 2015-2025”
At
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