Transparency
Market Research has released a new market study on pet food market,
titled "Pet Food Market - Global Scenario, Trends, Industry
Analysis, Size, Share And Forecast 2011 - 2017." Due to the
growing demand for nutritious food for pets, the global pet food
market is expected to expand at a CAGR of 4.2% during the period from
2011 to 2017. The global pet food market was valued at US$58.6 bn in
2011 and is anticipated to reach US$74.8 bn by 2017.
With
increasing disposable income, a growing number of people are opting
for pets. Pets are adopted extensively as many people have nuclear
families and wish to have a pet to get rid of loneliness and have a
companion in the form of a pet. Pet owners are increasingly concerned
about pet health and providing pets with nutritious food, which
directly benefits the global
pet food market. The purchasing decisions they make are based
on factors such as high nutrition content and other factors that
benefit the health of the pets. This is expected to drive the global
pet food market.
Factors
such as the rising number of cases of allergies among humans due to
pets may hamper the market. Growing obesity problems among pets due
to the utilization of high-fat pet food can also act as a restraint
for the global pet food market.
The
report segments the pet food market on the basis of food type, pet
type, and geography. By type of pet, the market is categorized into
cat food, dog food, and others. On the basis of food type, the market
is segmented into nutritious food, wet food or canned food, dry food,
and snacks/treats. The report states that dry pet food is the largest
segment of the market, accounting for 39% of the global pet food
market. The snacks/treats segment follows, accounting for 21% of the
global pet food market.
Geographically,
the market is segmented into North America, Asia Pacific, Europe, and
Rest of the World. Currently, North America dominates the market,
representing almost 40% of the global pet food market. The North
America pet food market is expected to demonstrate a CAGR of 3.5% in
the forecast period, rising from US$21.7 bn in 2011 to US$26.6 bn in
2019. Europe is anticipated to be the second largest regional market
and progress at a 4.4% CAGR between 2011 and 2017. Asia Pacific is
anticipated to grow rapidly and emerge as the fastest growing
regional market, driven by the rising trend of keeping pets at home.
The
report comprises key details about the major manufacturers of pet
food. The strategies implemented by the leading players, along with
details about the recent developments, and their financial overview
are given in the report. Major players in the global pet food market
analyzed in the report are: Del Monte Foods Co., Colgate-Palmolive
Co., Nestle’ SA, Total Alimentos SA, Marc Inc., Proctor &
Gamble Co., Nutriara Alimentos Ltd., Agrolimen SA, and Uni-Charm
Corp.
The
global pet food market is segmented as follows:
Pet
type
- Dog food
- Cat food
- Others
Type
of food
- Dry food
- Wet/ Canned food
- Snacks/ Treats
- Nutritious food
Regional
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
