The
Europe
pet food market is expected to exhibit a moderate CAGR of 1.30%
within a forecast period from 2015 to 2021. The market was recorded
at US$25.7 bn in 2014. By the end of 2021, the Europe pet food market
is expected to reach US$28.1 bn, as stated in a research report
released by Transparency Market Research, titled “Pet Food Market -
Europe Industry Analysis, Size, Share, Growth, Trends and Forecast
2015 - 2021.” The report provides an accurate analysis of the macro
and micro factors that influence this market, including socioeconomic
factors.
The
pet food being manufactured in Europe is rapidly diversifying.
Manufacturers are paying more attention to the increasingly diverse
types of pets that people are keeping. In addition to the type of
pets, more and more people are becoming aware of the differences in
nutrition and food intake for different breeds of cats and dogs, thus
increasing the scope of growth for the pet food market.
According
to the report, the key driver of the Europe pet food market is the
increasing number of dog owners in this region, coupled with the
higher awareness towards pet health and nutrition. All countries in
the Europe pet food market are considered major areas for growth.
The
Europe pet food market is segmented according to food type, pet type,
and country, for the sake of a simpler yet descriptive grasp over the
market dynamics.
On
the basis of food type, the Europe pet food market is being led by
the dry food segment. This segment is expected to be valued at
US$11.1 bn by the end of the report’s forecast period. Meanwhile,
the fastest-growing food type segment is nutritious food, exhibiting
a CAGR of 2.70% in the given forecast period.
In
terms of pet type, the Europe pet food market was dominated by the
cat food segment in 2014, when it was valued at US$11.9 bn. It is
expected to maintain its leading position throughout the report’s
forecast period. The others segment is expanding at the fastest CAGR
of 2.0% from 2015 to 2021.
The
report considers seven major regions in the Europe pet food market.
Among these regions, the U.K. held the largest share in the market in
2014. The report, however, states that the U.K. pet food market is
expected to show a very slow growth rate, owing to a saturated
market, with most consumers opting for top and credible players.
Request
a Brochure of this Report
:http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4390
On
the other hand, Spain is showing a rapid growth rate in the Europe
pet food market. It is exhibiting a CAGR of 1.90% in the given
forecast period. Spain is showing a rapid growth rate due to the
rapidly increasing consumer awareness about different types and
brands of pet food.
Another
region considered as a prime location for sales in the Europe pet
food market is Italy. However, market saturation and high inflation
rates are causing Italy to progress at a CAGR of just 0.1% from 2015
to 2021.
The
key players in the Europe pet food market are Pedigree Whiskas,
Nutro, Cesar, Big Heart Pet Brands, Purina, Colgate-Palmolive,
Affinity Petcare, and Nestle S.A.
Key
segments of the Europe Pet Food Market
Europe
Pet Food Market: By Country
- U.K.
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
Europe
Pet Food Market: By Pet Type
- Dog Food
- Cat Food
- Others
Europe
Pet Food Market: By Food Type
- Dry Food
- Wet Food/ Canned Food
- Nutritious Food
- Snacks/Treats
- Others
No comments:
Post a Comment