Dublin, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The "Global Pet Food Market 2023-2030" report has been added to ResearchAndMarkets.com's offering.
MARKET OUTLOOK
The publisher's report indicates that the global pet food market would progress with a CAGR of 7.91% in the forecast duration from 2023 to 2030.
This market is expected to be mainly driven by factors such as the high demand for organic & premium pet food and the rising spending by owners on pet food. In addition, the surging demand for therapeutic pet foods and the escalating growth of the e-commerce distribution channel are also contributing to the pet food market's growth.
On the other hand, a lack of transparency regarding the ingredients used in pet food products and production & supply chain discrepancies are hindering this growth. However, growing pet adoption worldwide, the humanization of pets, awareness about the health benefits of supplements, and the demand for sustainable and value-driven brands present lucrative growth opportunities to the studied market.
REGIONAL OUTLOOK
The global market for pet food spans across North America, the Middle East and Africa, Europe, the Asia-Pacific, and Latin America.
North America is the leading regional market globally, and held the highest revenue share in 2022. The demand for pet food has witnessed considerable growth in the region, owing to increased pet adoption in the US and Canada. Whereas, the Asia-Pacific is expected to showcase the fastest growth in the global market over the forecasted period. The trend of pet humanization is likely to continue driving the demand for pet food in the region, especially in Australia & New Zealand.
COMPETITIVE OUTLOOK
The key players studied in the pet food market report include Diamond Pet Foods, Champion Petfoods LP, Farmina Pet Foods, Hill's Pet Nutrition Inc, Mars Petcare Ltd, Inaba Foods Co Ltd, Unicharm Corporation, Nestle Purina Petcare, Wellness Pet Company, and Blue Buffalo Pet Products Inc.
Mars Petcare Ltd is the company behind famous brands, such as Pedigree and Whiskas. Its other brands include Cesar, Misfits, Royal Canin, Chappie, and Nutro (for dogs); Sheba, Kitekat, and Dreamies (for cats); and Trill and Aquarian (for other animals). Established in 1920, Mars Petcare has an industry experience of over 100 years. With a business presence in over 80 countries and a strong workforce of 130,000 employees around the world. The company accounted for a revenue of $40 billion in 2021.
Market Dynamics
Market Drivers
- High Demand for Premium and Organic Pet Food
- Increased Spending on Pet Food
- Rising Demand for Therapeutic Pet Food
- Escalating Growth of E-Commerce as a Distribution Channel in the Pet Food Market
Market Challenges
- Deceptive Claims by Manufacturers Regarding Ingredients Leading to Pet Obesity
- Production and Supply Chain Threats
Market Opportunities
- Desire for Sustainable and Value-Driven Brands
- Humanization of Pets
- Growing Awareness Regarding the Health Benefits of Supplements
- Growing Pet Adoption Across the Globe
Key Topics Covered:
1. Global Pet Food Market - Summary
2. Industry Outlook
3. Global Pet Food Market Outlook - by Animal Type
3.1. Dogs
3.1.1. Wet Dog Food
3.1.2. Dry Dog Food
3.1.3. Treats & Mixes for Dogs
3.2. Cats
3.2.1. Wet Cat Food
3.2.2. Dry Cat Food
3.2.3. Treats & Mixes for Cats
3.3. Other Animal Types
4. Global Pet Food Market Outlook - by Food Type
4.1. Wet Food
4.2. Dry Food
4.3. Other Food Types
5. Global Pet Food Market Outlook - by Distribution Channel
5.1. Store-Based
5.2. E-Commerce
5.3. Veterinary
5.4. Other Distribution Channels
6. Global Pet Food Market - Regional Outlook
7. Competitive Landscape
8. Research Methodology & Scope
A selection of companies mentioned in this report includes
- Blue Buffalo Pet Products Inc
- Champion Petfoods Lp
- Diamond Pet Foods
- Farmina Pet Foods
- Hill'S Pet Nutrition Inc
- Inaba Foods Co Ltd
- Mars Petcare Ltd
- Nestle Purina Petcare
- Unicharm Corporation
- Wellness Pet Company
For more information about this report visit https://www.researchandmarkets.com/r/2wr102-pet-food?w=12
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