U.S (New York)– The “Pet Food Market ” 2023 research report appears to cover various aspects of the market, including the strategies of top players, market segments, competitive landscape, manufacturing, and pricing structures. In this report, we will provide an in-depth analysis of the current state of the global Bahrain Alcoholic Beverages Market, its key drivers and challenges, and its future prospects. This study contains research on market dynamics, such as SWOT, PESTLE, and Porter’s Five Forces analysis, as well as details about drivers, constraints, trends, and opportunities. These studies may assist in providing a thorough overview of the worldwide industry. Additionally, the key segments of the industry are evaluated according to their performance.
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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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
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.”
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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.
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)
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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
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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