A new market study, titled “Discover Global Pet Food Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
The pet food market covers food products for common pets such as cats, dogs, birds, fishes, etc. Every pet has a different nutritional requirement due to a difference in the mechanism of their bodies and digestive system; therefore, choosing the right pet food for pets is very important. The major components of pet foods include vegetables, plants, meat products, fats, and cereals. The global pet food market is currently growing because of the increasing rate of pet ownership and humanization, and rising awareness regarding pet nutrition and care, mainly in developing countries. This trend is expected to continue even in the forecasted period.
The increasing pet humanization across the world that has led to people treating their pets as family members is said to boost the pet food market in the forecasted years. The increase in demand for pet foods will also increase the pet food ingredients market.
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Key Players of Global Pet Food Market =>
North American private label pet food arena, manufacturing cat and dog food brands including Berkley and Jensen for BJs Wholesale Club, ShopRite for Wakefern, and Ol Roy and Special Kitty for Wal-Mart.
The pet food market can be segmented based on type, source and pet type.
Based on type, pet foods can be segmented into the following:
• Meat and Meat Products
• Fats and Oils
Based on the source of pet foods, the market can be divided into the following:
Based on the type of pet, pet foods can be segmented into:
• Food for dogs
• Food for cats
• Food for fishes
The pet food market can be regionally analysed by dividing the world into the following regions – North America, Europe, Asia Pacific, South America, and the rest of the world. Among these regions, North America is leading the market due to the rising trend of pet humanization and pet adoption in the USA and Canada. However, Asia Pacific is expected to the be fastest growing region in the forecasted period, especially in countries like China and India. The rising population of dogs and cats in countries like India has given rise to various enterprises that are catering to food for pets, thereby driving the pet food market.
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With the new trend of pet humanization, many pet food companies are launching new flavors of existing products. Companies are also entering the pet beverage market, where these beverages are expected to provide many health benefits to pets for conditions such as arthritis, nausea, anxiety, inflammation, etc.
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