Pet food is prepared from plant-based and animal-based ingredients intended to offer proper nutrition for pets. Dry food is fruitful to offer good oral care, mainly in dogs with limited tartar buildup on the animal's teeth also through reducing plaque. Additionally, dry pet food offers the crunch along with chewing needed for maintaining overall pet health. Dry food further eliminates the requirement for freezing like that in the case of canned food. Pet snacks are basically preferred for enhancing intake nutrition also improved quality ingredients, whereas treats are utilized as the major product to induce positive behavior in the case of pets. Snacks normally consist of baked products like roasted grains & biscuits or dried fruits & vegetables. Wet/canned pet food is quite easy to digest for pets. Higher digestibility further offered by wet food makes it preferable for cats & dogs with illnesses and those that are finicky eaters. Canned or wet food is more palatable to cats and dogs since this product type contains fats, proteins, and few carbohydrates.
MARKET SCOPE
The "Global Pet Food Market Analysis to 2028" is a specialized and in-depth study of the food and beverage industry with a special focus on the global market trend analysis. The report aims to provide an overview of the pet food market with detailed market segmentation by pet type, product type, distribution channel, and geography. The report provides key statistics on the market status of the leading pet food market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on pet type, the global pet food market is segmented into dogs, cats, fish, and others
- Based on product type, the global pet food market is segmented into dry pet food, wet pet food, treats and snacks, and others
- Based on distribution channel, the market is bifurcated into supermarkets and hypermarkets, specoalty stores, online retail, and others.
MARKET DYNAMICS
Drivers
- Increasing demand for personalized pet food
- Rising pet ownership across developing countries
- Growing concern regarding pet health
Restraints
- Stringent regulations associated with pet food may restrict the market growth
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The pet food market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions, namely; North America, Europe, APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the pet food market in these regions.
IMPACT OF COVID-19 ON PET FOOD MARKET
As of May 2021, the US, India, Brazil, Russia, Spain, France, the UK, Turkey, and Italy, are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 is affecting economies and several industries in different countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various manufacturing plants and factories has also been affected the global supply chains also negatively impacted the manufacturing, delivery schedules, and sales of goods in the global market. In addition, the global travel bans further imposed by countries in Europe, Asia-Pacific, and North America are also affecting business collaborations as well as partnership opportunities.
Due to the Covid-19 pandemic, the food and beverage industry is also facing huge losses, which is further impacting the world economy. It has further disrupted the transportation system and disrupted the supply of raw materials. The disruptive value chain has had a negative impact on the raw material supply, which, in turn, is impacting the growth of the pet food market. However, as the economies are planning to revive their operations, the demand for pet food is presumed to rise since consumers are buying more processed food products through online retailers. Some of the safety measures followed by the companies include limiting direct contact with delivery person & visitors, strengthening & communicating proper hygiene practices, and conducting complete sanitations & eliminating personnel contact during shift changes. With all these factors, it can be presumed that in post-pandemic times, the demand for these products will take a hike.
MARKET PLAYERS
The report covers key developments in the pet food market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market players from the pet food market are anticipated to lucrative growth opportunities in the future with the rising demand for pet food in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the pet food market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Mars Inc.
- Nestl? Purina PetCare Company
- The J.M. Smucker Company
- Diamond Pet Foods
- Yamahisa Pet Care
- General Mills
- WellPet LLC
- Colgate-Palmolive Company
- The Hartz Mountain Corporation
- The Archer-Daniels-Midland Company (Total Alimentos SA)
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.