London, 02 March 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Pet Food Market in the US 2015-2019, which is expected to grow at a CAGR of 3.07 percent during the period 2014-2019.
The shelf life, price, and quality of the food are some of the factors taken into consideration before selecting the packaging material. Bags are most widely used in the US to sell pet food, followed by pouches, cans, and others.
“Currently, a number of retailers are stocking private-label pet foods as they provide higher profit margins compared with branded pet foods and are considered to be a low-cost alternative to national brands,” says Faisal Ghaus, Vice President of TechNavio.
Key Market Drivers
- Recovery from Economic Recession
- Increase in Pet Humanization
- Growing Pet Health Concerns
- Rise in Online Sales
Key Market Trends
- Premiumization of Pet Foods
- Rise in R&D Initiatives
- Increased Adoption of Private-label Brands
- Increase in Marketing Initiatives
Key Market Vendors
- Big Heart Pet Brands
- Mars Inc.
- Nestlé SA
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
