The
rising concern for the health of pets, growing acknowledgement of the
benefits of high-quality pet food, increase in palatability of pet
food, and increase in pet population are some of the major factors
driving the pet food industry across the globe. The pet food industry
forms a part of the animal feed industry and includes animal or plant
material intended for pet consumption.
Pet
food products are made available through a variety of distribution
networks such as hypermarkets, supermarkets, and online stores, among
many others. This report on the pet food market is an extensive
research study on the overall market, including the competitive
analysis and perspectives needed in terms of geography, type of pet,
class of pet food, as well as by key manufacturing and retailing
issues such as packaging innovations, formulation trends,
ingredients, and online retailing.
The
research study analyzes the pet
food market in Asia Pacific and estimates the market in terms
of revenue (US$ million) from 2014 to 2020. It also analyzes the
market by volume from 2014 to 2020 and includes some of the major
current market trends and their impact on the overall market over the
forecast period. In addition, the report includes analysis of the
average selling price (ASP) in various pet food product segments
across various countries. Through value chain analysis, insights from
leading players, and explanation of the macroeconomic factors
influencing and inhibiting the growth of the market, the report will
help suppliers, manufacturers, and distributors understand the
present and future trends in the pet food market and formulate their
strategies accordingly.
Overview
of the Pet Food Market
Health
and well-being are prime factors affecting the development of the
global pet food market, as pet owners look for healthier options when
selecting the right type of food for their pets. As millions of
homeowners across the U.S. and Europe are increasingly adopting pets
such as dogs or cats, there has been an increase in spending on pet
food products in the past few years. Due to this factor, the
commercial pet food industry is rapidly expanding in major regions of
the world.
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According
to a market study by Transparency Market Research, the pet food
market in Asia Pacific was valued at US$9,100.0 mn in 2013 and is
expected to reach US$10,720.0 mn by 2020, rapidly growing at a CAGR
of 2.30% from 2014 to 2020. By volume, the market totaled 688.6 kg mn
in 2013 and is anticipated to reach 803.3 kg mn by 2020, increasing
at a CAGR of 2.10% from 2014 to 2020.
Increasing
awareness about pet health is one of the major factors fueling the
demand for nutritious pet food in Asia Pacific. The nutritious food
segment is expected to be the fastest growing segment within the pet
food market. It is expected to reach US$361.3 million by 2020.
Another
dominant segment within the pet food market is the dry food segment,
which held the largest share in the global pet food market in Asia
Pacific. This segment is rapidly growing due to the ease of handling
and lower prices of dry food as compared to several other types of
pet food available in local Asian markets.
Among
the various countries in Asia Pacific, such as Australia, China,
India, South Korea, and Rest of Asia Pacific, Japan leads the pet
food market in terms of growth and demand. The demand for small pets
and the increasing preference for nuclear families are the main
factors fueling the demand for pet food in Japan. This demand is
expected to grow throughout the 2014-2020 forecast period.
Companies
mentioned in the research report
The
pet food market in Asia Pacific is dominated by some of the major
brands operating in this region as well as across the globe. Due to
the brand loyalty of existing consumers, the local players are still
expected to enter the market in the near future. This report profiles
Procter & Gamble Co., Nestle S.A., Mars Inc., and
Colgate-Palmolive Co. as the key players of the pet food market in
Asia Pacific.
Asia
Pacific Pet Food Market: By Pet Type
- Dog Food
- Cat Food
- Others
Asia
Pacific Pet Food Market: By Food Type
- Dry Food
- Wet Food/Canned Food
- Nutritious Food
- Snacks/Treats
- Others
Asia
Pacific Pet Food Market: By Country
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
