According
to a recent study published by Transparency Market Research titled,
‘Pet Food Market - Middle East And Latin America Industry Analysis,
Trend, Size, Share and Forecast 2014 - 2020’, the overall market is
expected to experience stable growth throughout the forecast period.
The report states that the Middle
East And Latin America pet food market was valued at US$239.6
million in 2013 and is expected to reach US$350.5 million by 2020.
The market in the Middle East is anticipated to grow at a CAGR of
5.6% from 2014 to 2020. The Latin America pet food market was valued
at US$8,202.1 million in 2013 and is expected to reach US$10,361.0
million by 2020. The market is expected to rapidly grow at a CAGR of
3.4% between 2014 and 2020.
The
study focuses on the current market trends, growth opportunities, and
microeconomic factors contributing to the growth of the pet food
market. The report also discusses the current market scenario and
some of the important future trends that are expected to impact the
growth of the pet food market in the Middle East and Latin America
until 2020.The pet food market in the Middle East and Latin America
is segmented by geography, pet type, and food type.
By
country, the pet food market in the Middle East is segmented into the
UAE, Israel, and others. Similarly, the Latin America market is
divided into Argentina, Brazil, and others (including Chile and
Venezuela). By pet type, some of the types covered under this report
are cat food, dog food, and others (including, fish food and bird
food). Among these types, the dog food type took up a major share in
the global pet food market in 2013. The demand for dog food is
increasing due to the growing trend of nuclear families and their
need to keep dogs for companionship and security.
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By
food type, the pet food market is segmented into nutritious, dry
food, wet/canned food, snacks/treats, and others (including frozen
food and semi-moist food). According to the study report, dry pet
food held the highest share in the pet food market in 2013. Ease of
handling and low price are the primary factors boosting the dry pet
food segment. Dry food is inexpensive and can be stored for a longer
duration as compared to other types of pet food.
Nutritious
food, on the other hand, is the fastest growing segment in the Middle
East and Latin America, expanding at a CAGR of 16.8% and 8.0%,
respectively. Growth of this segment is expected to increase due to
the rising consciousness of pet owners regarding pet health and
increasing demand for nutritious food. In addition, increasing
prevalence of diseases such as canine parvovirus infection and Lyme
disease among pets is contributing to the growth of the nutritious
food segment.
The
study highlights that growth of the pet food market in the Middle
East and Latin America is primarily driven by the rising awareness
regarding pet health, demand for packaged and branded food, growing
urbanization, and an increasing trend of adopting pets. Some of the
key participants in the pet food market are Pedigree, Proctor and
Gamble, Mars Petcare Inc., Nestle Purina PetCare, Royal Canin, and
Whiskas.
The
pet food market is segmented into:
Pet
Food Market, by Pet Type
- Dog Food
- Cat Food
- Others
Pet
Food Market, by Pet Food Type
- Dry Food
- Wet/Canned Food
- Nutritious
- Snacks/ Treats
- Others
Pet
Food Market, by Geography:
- Middle East
- Israel
- UAE
- Others
- Latin America
- Brazil
- Argentina
- Others
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