According to Stratistics MRC, the Global Pet Food is estimated at $68.95 billion in 2015 and is poised to reach $91.67 billion by 2022 growing at a CAGR at 4.15% from 2015 to 2022. The pet food market is mainly driven by increasing demand for best products by pet owners across the globe.
The factors such as increasing disposable incomes, changing lifestyle and rapid urbanization are the factors favouring the market growth. However, factors such as pet allergies, obesity in pets and regulatory issues are the restraints of the market.
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The global pet food market, by food type is dominated by dry food segment followed by snacks/treats. North America dominated the global pet foods market followed by Europe. Asia Pacific is expected to witness a strong CAGR due to rising tendency of keeping pets at home.
Some of the key market players include Arla Foods UK Plc, Dean Foods Company, Danone, Fonterra Group Cooprative limited, Meiji Dairies Corp, Nestle SA, Amul, Kraft Foods Inc, Parmalat S.P.A, Snacor Cooperative Unidas Limited, Dairy Farmers of America Inc, Groupe Lactalis SA, Megmilk Snow Brand Co. Ltd, Unilever, and Royal Fishland Campina N.V.
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Global Pet Food Market Pet Type Covered:
Other Pet Food
Type of food Covered:
• Rest of Europe
• New Zealand
• Rest of Asia Pacific
Rest of the World
• Middle East
• South Africa
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