The global pet food market size is expected to reach USD 113.08 billion by 2025, as per a new report by Grand View Research Inc. Packaged pet food provides standard nutritional value required in pet’s daily life. This is projected to drive market growth over the forecast period.
The demand for pet medicines, food, and accessories has been increasing with an increase in the adoption of cats and dogs. According to the American Pet Product Association, a cat or dog owner, on an average, spends between USD 200 and USD 300 dollar on pet food annually.
In 2018, Europe emerged as the largest market for pet food. The growth in this region can be accredited to strong presence of major industry participants along with high number of pet population. Increasing demand for premium pet foods is projected to drive the industry growth in the region.
Introduction to the new processing technologies along with the automated systems for the production of ingredients is anticipated to drive the growth of the market in the forthcoming years. Additionally, there is an upsurge in the adoption of drying technologies to preserve temperature sensitive ingredients.
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Pet Food Market Report Highlights
• Rabies is another most severe disease that humans get from dogs and cats, which affects a lot of people and eventually reduces the trend afterward supported by improved medical treatments for human health diseases and preventive health disease medicines for pets
• High cost of the product, particularly meat-based protein canned food, may restrict its preference among consumers, thereby restraining the segment growth over the forecast period
• Manufacturers are constantly focusing on entering the premium food products segment and thereby improving their overall profit margin, which is leading the pet food market to foresee immense growth in the coming years
• Many people suffer from different pet-related allergies and, therefore, do not prefer to keep pets and this factor is expected to hamper the growth of the pet food industry in the estimated time frame
• According to the American Pet Product Association, a cat or dog owner, on an average, spends between USD 200 and USD 300 dollar on pet food annually, owing to massive attachment toward the pets
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Pet Food Market Segmentation
Grand View Research has segmented the global pet food market on the basis of product, application, and region:
Pet Food Product Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2025)
• Dry Food
• Wet/Canned Food
• Nutritious Food
Pet Food Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2025)
Pet Food Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa
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Browse More Related Report:
Pet Food Ingredients Market Size, Share & Trends Analysis Report By Ingredients (Specialty Protein, Amino Acid, Phosphates, Vitamins, Acidifiers, Carotenoids, Others) By Region, And Segment Forecasts, 2019 – 2025
About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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