Selbyville, Delaware, July 21, 2021 (GLOBE NEWSWIRE) --
The dog food and snacks market share is likely to exceed USD 90 billion by 2027, according to a new research report by Global Market Insights Inc. Rapid urbanization and the rising trend of nuclear families in several countries are expected to spur industry growth. Growing elderly population and adoption of pets as support have further enhanced the market share.
A rapid rise in the aged population across the globe is a major factor boosting the adoption of dogs. Older adults are at an increased risk of loneliness and social isolation due to which they adopt dogs as their companions in everyday activities.
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Rapid urbanization is also expected to increase the number of nuclear families living globally due to which they wish to adopt dogs as companions. Dogs also add a sense of security to the family by safeguarding them from burglars, which is one of the main reasons for the increasing humanization of dogs in families.
Some of the key findings in the Dog Food and Snacks market report include:
- The animal-based raw material segment dominated the dog food and snacks industry in 2020.
- The food segment accounted for a major share in the global dog food and snacks industry and is projected to hold around 65% market share by 2027.
- The supermarkets/hypermarkets segment is anticipated to grow at a CAGR of around 4.5% from 2021 to 2027.
- Major players operating in the global dog food and snacks industry are primarily focusing on the expansion of product portfolios to gain market share.
Browse key industry insights spread across 295 pages with 352 market data tables & 27 figures & charts from the report, “Dog Food and Snacks Market Forecasts By Raw Material (Plant-based, Animal-based), Type (Food [Dry, Wet], Treats & Mixers), Cost Category (Premium Pet Food, Mass/Bulk Pet Food), Distribution Channel (Specialized Pet Food Shops, Supermarkets/Hypermarkets, Online), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/dog-food-and-snacks-market
In 2020, Dog treat & mixers segment accounted for a major share of around 32% in the global dog food and snacks market. Pet owners prefer treats & mixers along with regular meals, which are expected to enhance the demand for treats & mixes during the forecast period.
The increasing demand for premium pet foods, such as raw, natural, and organic products with several options, is estimated to further enhance the market expansion. The premium pet food segment is anticipated to grow at a CAGR of around 5% during the forecast period owing to the growing awareness regarding pet health.
Supermarkets/Hypermarkets is currently the largest distribution channel of dog food & snacks with the segment held a market share of 35% in terms of revenue in 2020. The demand for dog food & snacks is likely to be high in supermarkets/hypermarkets in the near future. Supermarkets/Hypermarkets are the most suitable option for aged consumers as dog food is easily accessible in these outlets, which will propel the dog food and snacks market statistics.
Europe dog food and snacks market size is likely to grow at a CAGR of over 4.3% during the expected timeframe. Countries including Germany, the UK, and France are among the major market revenue makers in the region, which is due to an increase in the purchasing power of dog owners along with the rising trend of healthy pet food.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/dog-food-and-snacks-market
Browse Related Report:
Pet Food Ingredients Market Forecasts by Ingredients (Amino acids, Phosphates, Vitamins, Acidifiers, Specialty Proteins, Carotenoids), Animal (Dog, Cat, Fish), Industry Analysis Report, Regional Outlook Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026
https://www.gminsights.com/industry-analysis/pet-food-ingredients-market
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.