This market research report presents segmentation of the pet food market by food type (dry food, wet/canned food, snacks/treats, and nutrition foods), and by geography (Americas, Europe, APAC, and ROW). It also features an insightful analysis of the top 5 pet food vendors including Mars, Nestle, and Del Monto.
Technavio’s market research analysts estimate the global pet food market to grow at a CAGR of around 5% between 2015 and 2019. Increasing inclination towards pet humanization is a major factor propelling this market’s growth. The Americas dominate the global market for pet food, where US occupies 80% of the total market share. Increased demand for nutrition based and premium products are driving the sales of this market. Brazil and Mexico are the emerging markets in this region.
The new market research report from Technavio provides a breakdown and analysis of the pet food segments by technology.
“Nutritional content in pet foods is a very important purchasing factor among pet owners. They prefer high-quality pet products. This has induced manufacturers to introduce pet foods that are rich in amino acids, carbohydrates, linoleic acid, and fibers. Functional pet foods are important for pets’ immune systems and encourage healthy digestive systems. Vendors are also offering premium-priced products that are of better texture, quality, and flavour. Also, the market is witnessing huge demand for customized food for pets,” says Sriram Mohan, Lead Analyst, Food & Beverage, Technavio Research.
The dry food segment accounts for around 40% of the total market share owing to its economic viability. The pet food manufacturers are launching various nutritious products for pet’s good health. Also, various pet food companies are coming up with food in different shapes and sizes to attract the pet owners.
Market share by pet food type
Source: Technavio Research
The key vendors in the global pet food market include Mars, Nestle, Colgate Palmolive and Del Monto. Intense competition prevails in the market as the vendors compete on the basis of product and packaging, nutritional value, and product differentiation. Many private labels offer products at economical prices, thus posing a threat to branded players.
A more detailed analysis is available in the Technavio report, Global Pet Food Market 2015-2019 – Industry Analysis.
We can customize reports by other regions and specific segments upon request.
Other Related Reports:
- Pet Food Packaging Market in US 2015-2019
- Pet Food Market in the US 2015-2019
- Global Pet Care Market 2015-2019
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