• The Global Pet Food Market was worth $XX billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of XX% during the forecast period.
• Pet food is plant or animal material intended for consumption by pets. Typically sold in pet stores and supermarkets, it is usually specific to the type of animals, such as dog food or cat food. Pet food industry is one of those enterprises, which has been performing admirably, notwithstanding the financial downturn. The administration of different nations has taken some activities and few initiatives to advance the utilization of healthy and safe ingredients to improve the general health of pets.
• Pet refinement/humanization influencing the purchasing decisions, changing the perception of consumer towards pet health, changing demographics, increasing product differentiation are the key drivers for the market growth. A survey conducted by the American Veterinary Medical Association found that in recent years, expenditure towards veterinary care and pet’s health care have seen a 40% raise. This is due to the growing human-animal bond, which defines consumers’ willingness to spend for their pets.
• Based on the product,Wet food is significantly higher in moisture than dry or semi-moist food. They are thermally processed cereal, grain and legume products prepared hermetically to increase the shelf life with no addition of preservatives and artificial additives. As the thermal process enhances the shelf life of products, the need for the addition of preservative gets minimized. When compared to dry pet food, wet pet food contains more proteins or fats. However, consumers prefer dry pet food as it’s less expensive and easy to feed. Wet pet foods are more popular for cats as they consume very less water; wet food provides hydration and prevents urinary tract infections.
• On the basis of price, the global market for pet food is broadly classified as economic, premium and super-premium. The global economic pet food market was worth $35.4 billion in 2018
• Depends on the application, the global market for pet food is broadly categorized into dog, cat, bird, and, others. Globally, the dog food segment is majorly driving the pet food market with CAGR 4% in the forecast period. This segment covers nearly 60% of the total market and the cat food market is expected to grow at the fastest rate in the pet food industry. Dogs are the major consumers of pet foods. Based on the distribution channel, the market is divided into specialty pet shops, hypermarkets/supermarkets, online and others.
• The global Pet Food Market is segmented into
• North America,
• Asia Pacific,
• South America,
• and Middle East & Africa.
• Few key market players are
• Big Heart Pet Brands,
• Blue Buffalo,
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