Years ago, many countries passed a law, extending human rights to some species of apes. Gone are the days when lonely people had pets at their homes only for company. Today, due to raising awareness about animal rights, concern for animal welfare and laws making it compulsory for people to take proper care of their pets. Not only people treat their pets like family members, but they also demand good quality food for them, which is giving rise to the market for pet food. Globally, the market for pet food is growing due to increasing trends for healthy products. Rising disposable income of pet owners and rapid development in food processing technology has supported positive growth for the pet food market.
This report estimates the market size and analyses the driving factors along with restraints and growth potential of the market. Profiling the key players in the market, this report analyses company strategies, including joint ventures, mergers and acquisitions and research and development (R & D). Restraints like strict laws related to pet care to ensure curbs on animal abuse and scarcity of ingredients are likely to slow down the growth of the market.
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Top Key Players Analysis:
The key players in the Global Pet Food Market include Big Heart Pet Brands (USA), Blue Buffalo (USA), Deuerer (Germany), Diamond Pet Foods (USA), Spectrum Brands (USA), Heristo AG (Germany), Hill’s Pet Nutrition (USA), Mars Petcare Inc. (Russia), Nestlé Purina PetCare (USA), United Pet Group (USA), and Unicharm Corp (Japan).
Latest Industry News:
Peter Roberts, a former Kellogg’s engineer who has also worked for companies like Dr. Oetker and Nestle, has achieved a new milestone in the industry of pet food. Roberts has taken on a franchise selling and delivering Heights Farm Premium Pet Foods. He has developed a hypoallergenic blend of complete dry food for cats and dogs. His innovation is helpful for animals that have food allergies. 23 JUL 2018
By introducing ACANA Singles, Champion Petfoods’ have unveiled a formulation makeover and flavor additions at this year’s SuperZoo. ACANA is introducing improved, meat-enhanced singles recipes and an expanded line featuring two new single animal-source protein flavors ̶ Beef & Pumpkin and Turkey & Greens. 2 JUL 2018
The global pet food market has been segmented on the basis of application, nutrition type, type, and lastly, region. Based on the application, this market has been segmented into aquatic, birds, cats, dogs, reptiles, small pets, and others. Aquatic pets are water-based creatures like fishes, frogs, and some amphibians. Reptiles are creatures that lay eggs. For example, lizards. Small pets are small sized animals like rats, rabbits, and chinchillas. On the basis of nutrition type, the global pet food market is segmented as fat, fiber, protein, & others.
By type the market segmentation covers, dry food, canned food, semi-moist food, and others. Example of dry food is dog biscuits. Canned food examples cover, canned chicken, tunas, savory stew, etc. Semi-moist pet food is mostly for dogs. It contains about 60-65% water by weight. This makes it more expensive per energy calorie than dry food. Semi-moist dog food generally contains more sugar and salt than either dry or canned dog food. Relevant examples include red meat, hearty stew, and patties of moisturized dog food.
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The regional segmentation of global pet food market segments the market into regions namely North America, and the Asia Pacific that is the primary market. North America is the largest market for pet food. This is because of reliance on service animals. Service animals are trained to perform tasks for people with disabilities. They require good quality food so that they remain healthy and can work efficiently. Presence of groups like People for Ethical Treatment of Animals (PETA) that encourage pet adoption is another reason for the trend of animals becoming part of the family. Various social media influencers also encourage animal adoptions because of which more people have pets, and they are ensuring proper food for them. Retail giant Amazon launched its own brand of dog food in order to tap into the pet food market. Majority key players in the North American pet food market are based in the United States of America (USA). Some key players in Europe have the biggest market in Germany and Russia. Many European countries have strict laws regarding animal care.
The Asia Pacific is the fastest growing market for pet food due to high population and some cultures believing that having pets in-house to be a good omen. In the Asia Pacific, many imported food items are purchased by people as they are believed to be of higher quality. In the Asia Pacific, many people are adopting foreign breed pets. To maintain those pets, many times high-quality pet food with more protein is required.
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