Pet Food Market Analyzed by Size, Opportunity and Industry Forecast, 2016-2023 Share, Analysis Growth, Revenue and Forecast to 2022 Global Opportunity Analysis and Industry Forecast, 2016-2023
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PET FOOD MARKET Pet Food Market Global Opportunity Analysis and Industry Forecasts, 2014 - 2022, projects that the global pet food market size is projected to reach $92,747 million, registering a CAGR of 4.1% during 2016 - 2022. Moreover, North America is expected to dominate the global pet food market throughout the analysis period, registering a notable CAGR of 3.8%. The global pet food industry is driven by rise in trend of nuclear families, rapid humanization of pets, and increased awareness about pet health. In addition, increase in ownership of pets in developing nations and rise in e-commerce sales offer opportunities for the pet food market players. However, increasing concerns about pet obesity and pet food recalls by companies hamper the growth of the global pet food market. Access Full Report : https://www.alliedmarketresearch.com/pet-food-market Premium foods have garnered significant popularity among quality sensitive pet owners. The growing interest in humanized pet food has created lucrative opportunities for manufacturers to produce high quality nutritional food without additives or preservatives. Pet food products with low-fat, low caloric, and high moisture content are in high demand in the market, towing to the incidence of pet obesity. Therefore, the other pet food type segment is expected to witness the fastest rate during the forecast period.
PET FOOD MARKET
However, transition in packaging standards has significantly impacted the overall pet food industry. Pet guardians prefer using metal canned packaging to flexible plastic and paper packaging. For instance, stand-up pouches witnessed more than 50% growth in the U.S. during 2007-2013. In addition, demand for smaller package sizes, such as single-served packets assist pet owners to deal with their pets weight or meal portions. The global pet food market is segmented, based on sales channel, into pet specialized shops, internet sales, hypermarkets, and others (grocery stores and non-grocery stores). The hypermarkets segment generated the highest revenue in 2015, as they offer one-stop shopping experience along with a broad product range. Conversely, internet sales have witnessed the highest growth rate, as it is one of the convenient shopping methods that offers a wide variety of products to pet owners. The rising online pet food sales would propel the overall pet food market size. In the U.S., the sales of pet food through ecommerce platforms increased by more than 50%, and is expected to outpace the overall e-commerce or retail sales by 2022.
PET FOOD MARKET
North America was the highest revenue contributor to the global pet food market in 2015, and is expected to maintain its position throughout the period. Increase in pet ownership, innovation in specialty & premium products, and rise in awareness about pet health have fostered the North American market. For instance, treats & snacks, such as Whiskas Temptations Dentabites and Feline Greenies offered by Whiskas contain fortified and functional ingredients to serve multiple functions, such as dental and health issues, had gained popularity in North America and other parts of the world. Get Request Sample Copy https://www.alliedmarketresearch.com/request-sample/530 Â
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PET FOOD MARKET
Key Findings of Pet Food Market • Projected to be the second fastest growing region, in terms of revenue, registering a CAGR of 4.6% during the forecast period. • Internet sales witnessed significant growth in 2014, and is anticipated to grow at the highest CAGR of 7.3%. • The dry food segment was the highest revenue contributor to the global market, with 65.3% share in 2014, and is expected to maintain its dominance throughout the forecast period.
PET FOOD MARKET By Sales Channel Specialized Pet Shops Internet Sales Hypermarkets Others
By Pet Type Dogs Cats Others
PET FOOD MARKET KEY SEGMENTATION By Food Type Dry Food Wet/Canned Food Treats/Snacks Others
By Geography North America Europe Asia-Pacific LAMEA
PET FOOD MARKET
KEY PLAYERS • Mars Petcare US Inc., • The Procter & Gamble Company, • Big Heart Pet Brands, • Nestle Purina PetCare, • Diamond Pet Foods, • Hill’s Pet Nutrition, • Tiernahrung Deuerer GmbH, • WellPet LLC, • Blue Buffalo Co., Ltd., and • Heristo Aktiengesellschaft Request Customization Report: https://www.alliedmarketresearch.com/request-for-customization/530
PET FOOD MARKET
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PET FOOD MARKET
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