Pet Food Market Scope, Industry Demand, Professional Survey and In-depth Analysis Research Report by Foresight to 2027

Market Overview:

Pet foods can be explained as the food products that have been specially prepared for various pets such as birds, dogs, cats and fishes. Normal, plant or animal sources are used for its preparation. Industry experts suggest that the worldwide market for pet food will advance at an impressive CAGR while gathering a wholesome revenue turnover during the forecast period.

In the past decade, the global market for pet food has almost reached the pinnacle of success. Its development can be, in major values attributed to the higher rate of pet adoption. Pet owners of this era want their pets to have the best of services and products. And hence, the pet food market gets profited. Pet population across the globe has increased by leaps and bounds. This fact happens to be one of the major driving forces for the market. Apart from that additional factors like an augmented need for healthy, organic, and nutritious pet food, shifting lifestyle patterns, increased annual income, rising rate of urbanization, higher awareness regarding pet health further foster the expansion of the market.

The market may, however, come across certain minor hindrances like pet food recalls and heightened pet obesity rates. Efforts are being taken in this direction and very soon a plausible solution will be discovered.

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Industry News:

April 23, 2018 – Dane Creek Capital Corp. recently declared that it has successfully acquired Naturawls Pet Products, a firm that is a renowned manufacturer of raw pet food and high quality dehydrated pet treats for dogs and cats in Canada. This development is expected to harness several positive results for this market.

April 20, 2018 – In EI Paso a new machine called ‘The Activa Customization Machine’ was launched a few days ago. It is a revolutionary machine that has the ability to customize any form of pet food. This product launch is expected to generate greater leads for the market in the forthcoming years.

Market Key Players Analysis:

At present, the global pet food market is coming across new entrants on a regular basis. These players are skilled and work tirelessly towards formulating products and services that in sync with the customer’s demands. Some of the most successful brands of this industry are Blue Buffalo, Heristo AG, Nestle Purina Pet Care, Hill’s Pet Nutrition and Diamond Pet Foods.

To stay ahead in the competitive space, these players use certain market strategies like acquisitions, partnerships with other companies and investment in research and development activities.

Industry Segmentation:

Market Research Future is a firm that has special expertise in providing comprehensive research reports. Their research report on this market comprises of an extensive segmental analysis section. Here is some brief insight into that section:

By application – Small Pets, Aquatic, Dogs, Reptiles, Birds and cats. In comparison to the other animals in the list, cats & dogs total for the larger share of the market. It is because they are the most common form of pets preferred by the general population.

By nutrition type – Fiber, Protein and fat.

By type – Semi-moist food, dry food and canned food. Canned food items govern the market in terms of type and its lead can be attributed to its ease of use and also the fact that they can be stored for a longer period of time.

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Regional Analysis:

The market for pet foods has favorably expanded itself across various verticals on the global. The major regions where its prominence is observed can be classified as North America, Europe, Asia Pacific and Rest of the World.

The research report by Market Research Future states that North America holds an edge over the others geographically. It accounts for approximately 40% of the market share. It is anticipated to grow at a phenomenal CAGR during the forecast period.

Asia Pacific follows suit and tallies for the second largest share of the market. The growth in this particular region is driven mostly by the trend of having one or more pets at home.

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