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PUNE, India, Dec. 07, 2017 (GLOBE NEWSWIRE) -- Pet food is either a plant or animal material intended to be consumed by pets. These food products are typically sold in supermarkets or pet stores and are usually animal specific such as cat food or dog food. These products are generally the by-product of human food industry. A rising trend has been observed in the perception of pet humanization in which pets are treated with more care and hygiene. These factors are resulting in demand for changes in the packaging of the products.
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The demand for pet food from developing countries and changing lifestyles in these nations are the key drivers for the increasing growth of pet food market, globally. Furthermore, the growing awareness of consumers towards their pet’s health is another factor bolstering the market growth for pet food. Also, other factors responsible for the market growth include rising trend of nuclear family thereby, pets are treated as family members by the consumers and thus, making consumers more concerned towards their pet’s health, eating habits and lifestyle.
The increasing need of healthy food in order to prevent over eating by pets is also driving the pet food market, globally. However, the rising rate of obesity in pets is a big concern for the consumers, acting as a major restraint in the pet food market. Also, allergy to pets with specific food products is also hindering the market growth followed by regulatory issues. With continual rise in the number of pet owners along with the adoption of pets is also resulting in the market growth. The need for variations in the taste of pet food and requirement of proper nutrients gives a potential opportunity to the companies operating in the pet food market. Further, the rise in demand for home delivery services and online sales is propelling the demand for pet food.
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Market Classification and Overview
The pet food market is classified by product, pricing, animal type, sales channel and geography. The product segment is analyzed into wet pet food that includes grain free food and others; dry pet food including grain free and others; organic products, treats/snacks, veterinary diets and liquid food. By pricing, the global pet food market is segmented into super premium, premium and economic segments. The animal type segment is segmented into cat, dog, bird and other animals. The sales channel segment is bifurcated into hypermarkets, specialized pet shops, online sales and others (grocery stores and non-grocery stores). The geographical segment includes North America, Asia-Pacific, Europe, Latin America and Middle East & Africa.
North America dominates the pet food market owing to the spending capacity of consumers, government rules for pets and rising concern of consumers towards the health of pets. Europe is the second largest region in the global pet food market whereas; Asia-Pacific is noticing a high growth owing to the rising standard of living, rising concern of consumers towards their pets and increasing number of nuclear families.
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Market : Global Pet Food Market
Analysis Period : 2014 – 2024
Historic Data : 2014 – 2015
Base Year : 2016
Forecast Data : 2017 – 2024
Market Stratification : Product Type, Distribution Channel, Geography
Regional Scope : North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Report Coverage : Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis, Player Profiling, Value Chain Analysis
Some of the key companies operating in the pet food market globally include BASF SE, Ingredion Incorporated, E. I. Du Pont De Nemours and Company, Roquette Frères, Omega Protein Corporation, Mars Inc, Archer Daniels Midland Company, Koninklijke DSM N.V., Colgate Palmolive Co., Del Monte Foods Co., The Scoular Company, Darling Ingredients Inc., John Pointon & Sons Ltd among others. The leading companies in the pet food market are committed to focus on continuous R&D for development of high quality pet food. The pet food industry provides high profit margin to the companies thereby, many small and medium sized companies are looking for opportunities by entering in the market.
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Market By Product
• Wet food
- Grain free food
• Dry food
- Grain free food
• Organic products
• Veterinary diets
• Liquid food
Market By Pricing
• Super premium
Market By Animal Type
• Other animals
Market By Sales Channel
• Specialized pet shops
• Online sales
• Others (grocery stores and non-grocery stores)
Market By Geography
• North America
- Rest of Europe
- Rest of Asia-Pacific
• Latin America
- Rest of Latin America
• Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of MEA
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