Global Pet Food Market By Pet Type, By Food Type, By Sales

New York, Feb. 28, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Pet Food Market By Pet Type, By Food Type, By Sales Channel, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” – https://www.reportlinker.com/p06241020/?utm_source=GNW
It’s generally available at pet stores and supermarkets, and it’s commonly tailored to the pet’s need as their food. The majority of animal food is a leftover product of the human food business and is not suitable for human consumption.

A large number of pet food products are healthy, which implies that each serving is a complete meal with all of the necessary nutrients. As a result, pet foods are prepared with recipes created by scientists and experts in the companion animal nutrition industry.

Living in a one-person home has become a new trend in various countries, with a rising number of people prefer to have a pet with an aim to fulfill their emotional needs and mitigate their loneliness. In many areas, people live in small apartments, where small pet dogs are better adapted to their lifestyle. Because the majority of people do not want children, there has been a tendency toward utilizing pets as a substitute, resulting in a booming pet business.

Factors such as a rise in the number of elderly couples and DINK (dual income, no child) families are pushing pet adoption across the globe. There has been a considerable increase in the divorce rate around the world. After separation, many people adopt pets as a companion and to eliminate their loneliness.

COVID-19 Impact Analysis

Due to the stringent lockdown conditions, many employers adopted work from home model. As a result, many people took advantage of the pandemic to get a family pet. Various studies have found that people who keep pets, experience fewer problems like loneliness and depression as a result of the companionship pets provide. Breeders and rescue facilities reported an increase in inquiries from persons looking for pets in the first few months of 2020.

The pet food industry experienced supply chain challenges during the early stages of the pandemic. The supply chain was disrupted due to a lack of raw materials, employees, and transportation limitations. However, with the relaxation in the lockdown restrictions, operations returned to normal. Additionally, increased pet adoption, rising demand for premium dog and cat food, and changes in pet animal food manufacturers’ strategy have all boosted the demand for pet food.

Market Growth Factors:

Increasing pet ownership and humanization

In recent years, pet humanization has become a trending word in the mainstream media throughout the world. In the pet food industry, the change from pet ownership to pet parenting has been a critical and defining development, particularly in advanced countries. A pet is owned by more than one-third of families in developed countries. As a result, the pet food market is expected to grow as pets become more humanized.

Use of cannabis in pet food

The Agricultural Improvement Act of 2018 took a big step forward by separating hemp and hemp-derived CBD from marijuana-based products, putting hemp-derived products under the Department of Agriculture’s management as a crop rather than the Justice Department’s control as a restricted narcotic. According to the Farm Bill, marijuana is defined as cannabis with a THC content of 0.3 percent or more (as defined by the DEA), and hemp is defined as cannabis with a THC content of less than 0.3 percent.

Market Restraining Factors:

International trade is hampered by non-uniform regulations

Animal food must be safe to eat and made in hygienic circumstances, according to the Federal Food, Drug, and Cosmetic Act of 1938 (FFDCA). The foods must not include any dangerous ingredients and should be labeled as accurately as possible. The Food Safety Modernization Act of 2010 (FSMA) established requirements for pet food makers in the United States on certification, sterilization, hygiene, and ingredient labeling.

Pet Type Outlook

Based on the Pet Type, the Pet Food Market is divided into Dogs, Cats, and Others. The dog food segment acquired the maximum revenue share of the market. This is attributed to the rise in the number of nuclear families and consumers’ growing propensity toward dogs for accompanying and security. Furthermore, dogs require a variety of nutrients in order to be healthy. As a result, dog owners have focused on giving suitable pet food that provides essential nutrients to keep their dogs healthy. Thus, these factors would boost the growth of the segment during the forecasting period.

Food Type Outlook

Based on the Food Type, the Pet Food Market is segregated into Dry Food, Wet Food, Treats & Snacks, and Others. In 2020, Dry food segment acquired the highest revenue share of the market and would continue this trend even during the forecast years. Dry food helps dogs maintain good dental hygiene by lowering plaque and minimizing tartar build-up on their teeth. Furthermore, this product category provides the crunch and chewing required by the animals to maintain their general health.

Sales Channel Outlook

Based on the Sales Channel, the Pet Food Market is segmented into Supermarkets & Hypermarkets, Specialized Pet Shops, Online Sales channels, and others. In 2020, the Specialized Pet Shops segment collected the maximum revenue share of the market. In addition, the segment would showcase the same kind of trend even during the forecasting period. This is credited to the fact that these shops have all kinds of accessories, foods, toys cages, collars, leashes and other items related to pet.

Regional Outlook

Based on the Region, the Pet Food Market is analyzed across North America, Europe, APAC, and LAMEA. In 2020, North America emerged as the leading region of the market. In addition, the region would display a similar kind of trend even during the forecasting period. This is attributed to the high adoption of pets in American households. The positive attitude of North American customers toward pet humanization and its widespread acceptance would help the regional market to expand further.

The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Nestle SA is the major forerunner in the Pet Food Market. Companies such as Schell & Kampeter, Inc., Archer Daniels Midland Company and Mars, Inc. are some of the key innovators in the Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Unicharm Corporation (The Hartz Mountain Corporation), Farmina Pet Foods Holding BV, Nestle SA (Nestle Purina), General Mills, Inc., Mars, Inc., The Colgate-Palmolive Company, The Wellness Pet Company (Clearlake Capital Group, LP), Schell & Kampeter, Inc., and Archer Daniels Midland Company.

Recent Strategies deployed in Pet Food Market

Partnerships, Collaborations and Agreements:

Nov-2021: Hill’s Pet Nutrition came into a partnership with Bond Pet Foods, a Colorado-based pet food company. Following the partnership, the two companies would together create a substitute for one of Hill’s most prominent meat proteins, made particularly to fulfill the dietary requirements of cats and dogs.

Jun-2020: WellPet extended its partnership with Pet Food Experts, the third-largest wholesale pet food and pet supply distributor in the US. Following the partnership, Wellness aimed to increase its distribution of natural food, treats, and dental chews for dogs and cats. Following the partnership, Pet Food Experts would become the exclusive distributor of Sojos, a brand of WellPet, across all the territories.

Product Launches and Product Expansions:

Dec-2021: Total Alimentos launched the Max Professional Line for dogs and the Max Cat Professional Line for cats, both of which are dye-free and artificial preservative-free. In addition, Professional Line products introduced to the premium special category nutrients such as flaxseed, dehydrated egg, L-carnitine, chondroitin, and glucosamine that are generally only found in the superpremium category.

Aug-2021: WellPet introduced various food recipes for cats and dogs, and daily dog ​​dental chew value packs. Through this launch, the company aimed to expand its Wellness CORE Digestive Health, Wellness Complete Health, and WHIMZEES product lines. Through these products, the company would offer pet owners more excellent choices at mealtime while simultaneously providing natural, outcomes-based nutrition for pets of all life phases.

Jun-2021: Mars Petcare introduced wet car food as a part of its Whiskas brand, expanding the range in the country. Moreover, the latest product category would be available across grocery stores, pet shops, and e-commerce sites.

Jun-2021: Mars Petcare rolled out KARMA plant-first formulas, its new inclusion in its dog food offerings. KARMA recipes are made from plant-based superfoods which include flaxseed, dried coconut, chickpeas, chia seed, blueberry, dried pumpkin, apple, kale, spinach, carrot, and all these ingredients are GMO-free. Moreover, the products have a minimum of 60% plant-based ingredients and are enriched with real chicken or white fish.

Mar-2021: Hill’s Pet Nutrition introduced prescription dog food. The latest foot product contains egg which acts as a sole animal protein source to reduce the inflammatory response in dogs, helping to further decrease itching.

Nov-2020: Nestlé Purina released Purina Beyond Nature’s Protein, pet food that is developed on alternative proteins to make better use of the planet’s resources. Moreover, Veterinarians and nutritionists at Purina have combined two recipes ie one developed from pig’s liver, chicken, and millet, and the second is based on chicken, insect protein, and fava beans. In addition, both of these recipes are available for dogs and cats.

Acquisitions and Mergers:

Jul-2021: General Mills, the parent company of Blue Buffalo, took over the pet treats business of Tyson Foods, a Food processing company. Through this acquisition, the company aimed to strengthen its Blue pet food offering and obtain significant growth in the pet food business.

Apr-2020: Nestlé Purina took over Lily’s Kitchen, the UK’s leading producer of premium wet and dry natural foods for dogs and cats. Through this acquisition, Lily’s Kitchen would enhance the prevailing product offerings of Nestlé Purina PetCare.

Geographical Expansions:

Dec-2020: Farmina Pet Food USA expanded its geographical reach by shifting its Headquarters to Reidsville, North America. In addition, the facility would involve space for manufacturing, research and development and warehousing. Moreover, the Reidsville would be the suitable location to the company’s values ​​of quality and continuous innovation, from the workforce to the production technologies.

Scope of the Study

Market Segments covered in the Report:

By Pet Type

• Dog

• Cat and

• Others

By Food Type

• Dry Food

• Wetfood

• Treats & Snacks and

• Others

By Sales Channel

• Pet Shops

• Supermarkets & Hypermarkets

• Online and

• Other Channels

By Geography

• North America

or US

o Canada

or Mexico

o Rest of North America

• Europe

or Germany

or UK

o France

o Russia

or Spain

or Italy

o Rest of Europe

• Asia-Pacific

or China

oJapan

o India

o South Korea

or Singapore

oMalaysia

o Rest of Asia Pacific

• LAMEA

or Brazil

or Argentina

or UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Unicharm Corporation (The Hartz Mountain Corporation)

• Farmina Pet Foods Holding B.V.

• Nestle SA (Nestle Purina)

• General Mills, Inc.

• Mars, Inc.

• The Colgate-Palmolive Company

• The Wellness Pet Company (Clearlake Capital Group, LP)

• Schell & Kampeter, Inc.

• Archer Daniels Midland Company

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06241020/?utm_source=GNW

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