Pet Food Market Long-Term Growth Outlook 2022

The Global Pet Food Market research report interprets definition, an investigation of significant progress in the industry. It provides overall industry survey, product description, wide array of applications, top players, and development forecast. It enhances understanding about that market along with new business trends.

Global Pet Food Market is anticipated to reach USD 98.81 billion by 2022. The market is anticipated to grow at a healthy rate in the years to come. The factors that propel the growth of the market include rapid urbanization & industrialization, increasing demand, increasing trend of nuclear families, improved consciousness about pet health, and fast humanization of pets, product development & technological innovations.

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Main features of the report:

·         To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Pet Food Market.

·         A complete backdrop analysis, which includes an assessment of the parent market

·         Important changes in market dynamics

·         Market segmentation up to the second or third level

·         To provide country level analysis of the market for segment by application, product type and sub-segments.

·         To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.

·         Track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Pet Food Market.

·         Emerging niche segments and regional markets

·         An objective assessment of the trajectory of the industry.

In addition, factors such as changing standard of living, rise in disposable income, increase in number of pet owners, and growing pet humanization significantly fuel the market growth. On the other hand, there are factors that may hamper the growth of the market such as growing obesity in pets and increasing pet allergies. The Pet Food Market is anticipated to grow at a significant CAGR of 4.3% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

The market may be explored by food product, applications, sale channel, and geography. Pet Food Market may be explored by food product as Wet/Canned Food, Dry Food, Snacks/treats, Nutritious Food, and Others. The “Dry products” segment dominated the Pet Food Market in 2014 and anticipated to maintain its dominance by 2022. Dry food products are mostly targeted for young animals due to their high nutritive value. These products are accessible in an extensive price range, standard, standard premium, super premium, and economy. Important factors driving demand for dry products comprise lower generation of waste, longer storage, and handling convenience.

Pet Food Market may be explored by application as Cats, Dogs, and Others. The “Dog” segment dominated the application of the Pet Food Market in 2014 and is anticipated to maintain its dominance by 2022. Dogs are the friendliest animals kept as pets across the globe. Accessibility of dog food for various types is expected to have an optimistic influence on industry development over the forecast period.

The market may be explored by sale channel as Hypermarkets, Specialized Pet Shops, Internet Sales, and Others (Grocery Stores, Non-grocery Stores). Asia-Pacific accounted for the major share of the market in 2014 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increasing urbanization across the developing economies that has resulted in larger adoption of several animals as companions will boost the Pet Food Market growth in the years to come.

Some of the key players that fuel the growth of the Pet Food Market comprise Gitwako Farms (I) Pvt. Ltd., Avanti Overseas Pvt. Ltd., Agro Food Industries Pvt. Ltd., Frigorifico Allana Pvt. Ltd., Doggie Dabbas, Cuddleup Diet Products Pvt. Ltd., Bharat International Pet Foods Pvt. Ltd., Mars International India Pvt. Ltd., Venky's (India) Ltd, and Khanal Foods Pvt. Ltd. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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