The latest intelligence report published by Report Ocean, titled “Global “Pet Food Market “2023: Increase in Demand and Opportunities,” offers valuable insights into the industry. The report provides a comprehensive analysis of research and information from various sources, empowering decision-makers worldwide to make a significant impact on the global economy. With a dynamic vision of the market size, statistics, and competitive landscape, the report presents a complete overview of the industry. It covers future trends, growth factors, consumption, production volume, CAGR value, opinions, profit margin, pricing, and industry-validated market data. This report assists individuals and market competitors in predicting future profitability and making crucial decisions for business growth.
The global pet food market generated revenue of $68,109 million in 2014, and is expected to garner $92,747 million by 2022, registering a CAGR of 4.1% from 2016 to 2022. The global pet food market is driven by factors such as rising trend of nuclear families, rapid humanization of pets, and increased awareness about pet health. In addition, increase in ownership of pets in developing nations and rise in e-commerce sales offer opportunities for the pet food market players. However, increasing concerns about pet obesity and pet food recalls by companies hamper the growth of the global pet food market.
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The government of various countries have taken initiatives to promote the use of safe and healthy ingredients to improve the overall wellness of pets. For instance, the Japanese Government implemented the Law for Ensuring the Safety of Pet Food (Law No. 83 of 2008) for pet food manufacturers, importers, and wholesalers to protect the pet health and regulate the manufacturing process. Such initiatives would continue to propel the overall pet food market size.
The demand for transparency during purchasing of pet food products has increased among consumers, owing to the ongoing concerns about pet health. Therefore, the Food and Drug Administration (FDA) ensures that the ingredients used in pet foods are enlisted on the labels based on weight. In addition, it assesses claims on pet foods such as “maintains urinary tract health,” “low magnesium,” and “hairball control.”
The global pet food industry is segmented based on pet type, food type, sales channel, and geography. Based on the type of pet, the market is segmented into dogs, cats, and other pets. In 2015, the dog food segment accounted for the largest share in the global market, owing to rising trend of nuclear families and growing inclination of consumers towards dogs for companionship and security. Based on the type of food, the global pet food market is segregated into dry food, wet/canned food, treats & snacks, and others. Based on the sales channel, the market is categorized into specialized pet shops, internet sales, hypermarkets, and others. The global pet food market is segmented based on region into North America, Europe, Asia-Pacific, and LAMEA. The North American pet food market had a dominant share in the world in 2015, and is expected to maintain its dominance during the forecast period.
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KEY BENEFITS FOR STAKEHOLDERS
The report includes an in-depth analysis of the global pet food market along with the current trends, drivers, restraints, and growth opportunities.
Porter’s Five Forces model illustrates the potency of buyers and sellers to formulate effective strategies.
Value chain analysis provides a clear understanding of the key intermediaries involved and their respective roles at every stage of the value chain.
Key market players have been profiled to gain an understanding of the strategies adopted by them.
The current trends have been quantitatively analyzed and estimated for the period of 2016-2022 to highlight the financial competency of the market.
KEY PLAYERS
Mars Petcare US Inc.,
The Procter & Gamble Company,
Big Heart Pet Brands,
Nestle Purina PetCare,
Diamond Pet Foods,
Hill’s Pet Nutrition,
Tiernahrung Deuerer GmbH,
WellPet LLC,
Blue Buffalo Co., Ltd., and
Heristo Aktiengesellschaft
OTHER PLAYERS IN THE MARKET
Solid Gold
Del Monte Foods
Pet Valu
PetClub
PetPros
Benefit Evcil Hayvan urunleri
Lider Evcil Hayvan Beslenme urunleri
Colgate-Palmolive Co.
Connex United Processors
The Great Australian Pet Food Co.
PET FOOD MARKET KEY SEGMENTATION
By Pet Type
Dogs
Cats
Others
By Food Type
Dry Food
Wet/Canned Food
Treats/Snacks
Others (Veterinary Diet, Organic, and Nutritional Food)
By Sales Channel
Specialized Pet Shops
Internet Sales
Hypermarkets
Others (Grocery Stores, Non-grocery Stores)
By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
Market Dynamics:
Drivers:
- Increasing emphasis on self-care and wellness, particularly among women. A
- Growing awareness of the health and beauty benefits offered by dietary supplements.
- Rising disposable incomes and willingness to invest in premium health and beauty products.
- Influence of social media and beauty influencers shaping consumer preferences.
- Changing lifestyles and health concerns driving the demand for supplementary nutrition.
Restraints:
- Lack of regulatory oversight and quality control in the supplements industry.
- Consumer skepticism and confusion regarding product claims and effectiveness.
- Potential risks and interactions with other medications or health conditions.
- Limited accessibility and affordability of supplements in certain regions.
Opportunities:
- Increasing demand for natural and organic supplements.
- Untapped market potential in the Asia-Pacific region.
- Development of innovative formulations and delivery methods.
- Collaborations with beauty brands or influencers for product endorsements.
- Integration of technology to personalize nutrition and enhance consumer experience.
Challenges:
- Intense competition among market players.
- Navigating regulatory complexities and meeting regional standards.
- Building trust and credibility with consumers.
- Educating consumers about the benefits and proper usage of supplements.
- Addressing concerns and skepticism regarding the safety and efficacy of supplements.
The report will include answers to the following key questions:
- What are the key current trends that can impact the product life cycle and return on investment?
- How do regulatory changes affect corporate, business, and functional strategies?
- Which initiatives by major players in micromarketing are likely to attract investment?
- What are the recommended frameworks and methodologies for conducting PESTLE analysis?
- In which areas are there emerging opportunities for growth and development?
- Which game-changing technologies will be instrumental in capturing new revenue streams in the near future?
- What operational and tactical frameworks are different players adopting to foster customer loyalty?
- What is the current level of market rivalry, and what is the expected degree of competition in the coming years?
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