NEW YORK, United States, Sept. 16, 2022 (GLOBE NEWSWIRE) — “Pet Food Market By Product Type (Dry Pet Food, Wet Pet Food, Veterinary Diets, Organic Products, Treats and Snacks, and Others), By Animal Type (Dogs, Cats, Birds, and Others), By Ingredient Type (Animal- derived, Plant-derived, Cereals and Cereal Derivatives, and Others), and By Distribution Channel (Specialized Pet Shops, Online Channel, Supermarkets/Hypermarkets, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” is the title of the latest analysis report that Facts and Factors has recently added to their research database.
“The latest research shows that the demand for global Pet Food Market size & share was about USD 87,200 million in 2020. The market is likely to grow at a Compound Annual Growth Rate (CAGR) of 4.5% and is anticipated to reach around USD 90,500 million by 2026.”
The report analyzes the market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global pet food market.
Pet Food Market Overview:
Pet food is referred to as animal feed used for consumption by pets. Moreover, it is generally sold in pet stores as well as supermarkets. Pet foods are typically specific to the animal type, like dog food or cat food.
In addition, the majority of meat used for animals is the by-product of the human food industry and is not considered as “human grade.”
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Key Insights from Primary Research
- According to analysis, the pet food market is likely to grow above a CAGR of approximately 4.5% from 2021 to 2026.
- In terms of revenue, the pet food market was worth at about USD 87,200 Million in 2020 and will hit value of around USD 90,500 Million by 2026.
- Based on Animal Type segment, Dogs are predicted to be the market’s top revenue contributor during the forecast timeframe.
- Based on region, North America will likely overtake the global market.
Pet Food Market: Growth Factors
- Increasing Consumer Awareness Concerning Organic and Natural Pet Food Products
The increase in consumer awareness concerning organic and natural pet food products is driving the manufacturers to change their focus from synthetic to natural and organic products, which in turn, is propelling the pet food market growth across the globe. The convenience benefits regarding dry natural and organic pet food are likely to boost the product demand as natural and organic pet foods are being used on the large scale. Moreover, the increase in the demand for dog food and the high traction in the quality-driven pet food products are expected to fuel the pet food market growth in the forthcoming years.
- Increasing Trend of Pet Adoption as a Companion for Families
Furthermore, the increasing trend of dog adoption as a companion for families will probably expand the product demand. Mostly, dogs are witnessing an increasing trend on the basis of the concept of humanization of pets, which has resulted in numerous public owning dogs and feeding them with quality food. Also, fast urbanization is one of the major factors fueling market development. Besides, the easy availability of pet food in the diversified platform that ranges from modern trade to online sales channels is resulting in the global pet food market growth.
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pet food Market: COVID-19 Impact Analysis
The recent COVID-19 epidemic and economic downturn have altered the entire market statistics of many sectors around the world. The Pet Food Market is no exception to this rule. In the pet food sector, the COVID-19 pandemic had a detrimental influence on the supply chain because of the disruptions in production and logistics that occurred. However, due to the constant efforts of pet products manufacturers to assure that food supplies for pet animals are not disrupted, as well as the growing demand for cat and dog food between pet owners, the value of the global market has increased.
Competitive Player Analysis:
The report also provides an in-depth analysis of the market’s main competitors, as well as information on their competitiveness. The research also identifies and analyzes important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company’s global presence, competitors, service offers, and standards. Some of the main players in the global pet food market include;
- The Hartz Mountain Corporation
- Nestle Purina PetCare
- Big Heart Pet Brands
- Diamond Pet Foods
- Heristo AG
- Colgate Palmolive
- Mars Incorporated
- The JM Smucker Company
- Hill’s Pet Nutrition Inc.
- Total Alimentos S.A.
- Lupus Alimentos
- Blue Buffalo Pet Products Inc.
- Cargill Incorporated
- WellPet LLC
- Archer Daniels Midland Company
- BASF SE
- Ingredion Incorporated
Browse the full “Pet Food Market By Product Type (Dry Pet Food, Wet Pet Food, Veterinary Diets, Organic Products, Treats and Snacks, and Others), By Animal Type (Dogs, Cats, Birds, and Others), By Ingredient Type (Animal- derived, Plant-derived, Cereals and Cereal Derivatives, and Others), and By Distribution Channel (Specialized Pet Shops, Online Channel, Supermarkets/Hypermarkets, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” report at https://www.fnfresearch.com/pet-food-market
The global pet food market has been classified into product type, animal type, ingredient type, and distribution channel.
On the basis of the type of product, the global pet food market has been segmented into dry pet food, wet pet food, veterinary diets, organic products, treats and snacks, and others.
- Dogs are Expected to be the Leading Revenue Contributors in the Market
Based on the type of animal, the global pet food market has been separated into dogs, cats, birds, and others. The global pet food market on the basis of ingredient type has been divided into animal-derived, plant-derived, cereals and cereal derivatives, and others. In terms of the distribution channel, the global pet food market has been segmented into specialized pet shops, online channels, supermarkets/hypermarkets, and others.
- North America is Emerging as One of the Most Important Region in the Market
On the basis of regional analysis, the pet food market is segmented into five major regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is emerging as one of the most important regional pet food markets, following the Asia Pacific. The high growth in this regional market can be attributed to the rising trend of the humanization of pets and the increase in consumer awareness associated with the beneficial impact on pet health in the region. Also, the increasing trend of adopting pets amongst millennials is expected to propel the regional market expansion.
Moreover, the European pet food market is considered to be the main market owing to cat food products because of the high rate of cat ownership. Apart from this, Asia-Pacific, led by Japan, China, South Korea, and India, is becoming one of the key markets at the global level owing to the escalating demand for premium dog food. Also, the high-raised regions of Singapore, Malaysia, Taiwan, and Indonesia are the fast emerging markets in the Asia-Pacific region.
|Market Size in 2020||USD 87,200 Million|
|Projected Market Size in 2026||USD 90,500 Million|
|CAGR Growth Rate||4.5% CAGR|
|Key Market Players||The Hartz Mountain Corporation, Nestlé Purina PetCare, Big Heart Pet Brands, Diamond Pet Foods, Heristo AG, Deuerer, Colgate Palmolive, Mars Incorporated, The JM Smucker Company, Hill’s Pet Nutrition Inc., Total Alimentos SA, Lupus Alimentos, and Others|
|Key Segment||By Product Type, By Animal Type, By Ingredient Type, By Distribution Channel, and By Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa|
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This report segments the global pet food market as follows:
By Product Type
- Dry Pet Food
- Wet Pet Food
- Veterinary Diets
- Organic Products
- Treats and Snacks
By Animal Type
By Ingredient Type
- Cereals and Cereal Derivatives
By Distribution Channel
- Specialized Pet Shops
- Online Channel
- North America
- The UK
- Rest of Europe
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- latin america
- Rest of Latin America
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- Market Share, Size & Forecast by Revenue | 2021−2026
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Product Type, Animal Type, Ingredient Type, Distribution Channel, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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