The latest report by IMARC Group titled, “Pet Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global pet food market reached a value of nearly US$ 90 Billion in 2016, growing at a CAGR of more than 5 % during 2009-2016. Increase in wealth, busy lifestyle patterns and influence of western customs, are slowly leading to a growth in pet adoption rates. This trend is being witnessed particularly in the emerging economies where pet animals such as dogs, pets, fishes, etc. are now considered as the members of the family. Driven by this trend, the companies are introducing pet foods with animal grade ingredients such as chicken and liver chunks, pea protein, oatmeal, potatoes, etc. Further, the market is expected to reach a value of around US$ 200 Billion by 2022.
Request sample of the report: http://www.imarcgroup.com/request?type=report&id=667&flag=B
Highlights of the global pet food market:
- The market is highly driven by increasing pet-adoption rates and the introduction of new product range of pet foods.
- Dry pet food represents the largest segment, accounting for the majority of the share.
- North America is the largest market for pet food.
Rising cases of obesity and other diseases including arthritis, diabetes, and high blood pressure among pets are also driving the demand for nutritious pet food products. Unlike human food which may cause various ailments to animals, these foods are manufactured according to the food regulatory guidelines and high manufacturing standards. Nowadays, the pet food companies are also introducing new product range such as meat & bone meal, offal, animal digest, sugar-based sweeteners, animal by-product, etc. to gain a wider consumer-base. These products offer a healthy and fulfilling diet to the animals along with assisting digestion, improving immunity and strengthening muscles, teeth and bones.
The market for pet food is broadly segmented on the basis of product type which includes dry pet food, and wet and canned pet food. The dry pet food holds the largest share in the market. A segmentation of the market on a regional basis is also given with North America, Europe, Asia-Pacific and Latin America being the major markets. Amongst these, North America represents the largest market for pet food, accounting for the majority of the share. An analysis of the competitive landscape provides the details of the key players operating in the market. Some of the major players of pet food are Mars Petcare Inc., Nestlé Purina PetCare, Hill’s Pet Nutrition and Big Heart Pet Brands.
Browse full report with TOC: http://www.imarcgroup.com/pet-food-market
The report provides a techno-commercial roadmap for setting up a pet food manufacturing plant. The study covers all the requisite aspects of the pet food market. This ranges from macro overview of the market to micro details of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the pet food industry in any manner.
The report has examined the global pet food market on the basis of:
Market by Product Type:
- Dry Pet Food
- Wet and Canned Pet Food
- North America
- Latin America
- Mars Petcare Inc.
- Nestlé Purina PetCare
- Hill’s Pet Nutrition
- Big Heart Pet Brands
Browse related reports:
Dog Food Market: http://www.imarcgroup.com/dog-food-manufacturing-plant
US Pet Food Market: http://www.imarcgroup.com/us-pet-food-market
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter: @imarcglobal
Company Name: IMARC Group
Contact Person: Jim Clarke
Country: United States