The latest report by IMARC Group, titled “Dog Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global dog food market has grown at a CAGR of 4% during 2009-2016, reaching a value of around US$ 47 Billion in 2016. Dog food is mostly made with animal grade ingredients which are fit for the consumption of dogs such as oatmeal, pea protein, potatoes, chicken and liver chunks. These products offer a healthy and fulfilling diet to the dogs along with assisting digestion, improving immunity and strengthening muscles, teeth and bones. Nowadays, commercial dog food companies are also focussing on product premiumisation and introducing new product varieties in order to expand their consumer-base.
Highlights of the global dog food market:
- Rising pet-adoption rates remain the key factor driving the growth of the market.
- Dry dog food is the most popular product type.
- The market is expected to reach a value of around US$ 60 Billion by 2022.
Changing lifestyles in the developing countries has led to a rise in the pet adoption rates, particularly dogs due to their loyal and friendly nature. Additionally, with the rising trend of pet humanisation, pet owners have started treating their pets more like a family member and have become highly sensitive towards their pets’ needs. This has led to the popularity of dog food, thereby boosting the global dog food market. An increase in the palatability of pet food and its easy availability in convenient packaging (like single serve pouches, stand-up pouches, re-closable bags and bags with handles) have also boosted pet food sales in the last few years. Urbanisation, ageing population, awareness about sustaining a healthy diet for their pets and rising disposable incomes are some of the other factors leading to increased pet expenditures, thereby driving the market. Owing to the aforementioned factors, the market is projected to reach a value of US$ 60 Billion by 2022.
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The global dog food market has been segmented on the basis of the type of dog food. Based on the findings of the report, the dry dog food sector holds the largest share in the market. It is followed by dog treats and wet dog food. The report also provides a segmentation of the market on a regional basis with some of the major regions being North America, Asia-Pacific, Western Europe, Eastern Europe, Latin America, and Middle East and Africa. Amongst these, North America represents the largest market for dog food, accounting for the majority of the market shares. On evaluating the competitive landscape, it is found that are Nestlé, Mars and Colgate-Palmolive are the key players operative in the market.
The report has examined the global dog food market on the basis of:
- Dry Dog food
- Dog Treats
- Wet Dog Food
- North America
- Western Europe
- Eastern Europe
- Latin America
- Middle East and Africa
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