Pet Food Market 2020 Rising Trends, Growth Opportunities and Global Outlook - J. M. Smucker Company, Pamplona Capital Management, Spectrum Brands Holdings

Pet Food Market - Growth, Trends And Forecast (2020 - 2025)

The report will make detailed analysis mainly on in-depth research on the development environment, Market size, development trend, operation situation and future development trend of Pet Food Market on the basis of stating current situation of the industry in 2020.

The global pet food market (henceforth, referred to as the market studied) was valued at USD 87.08 billion in 2019 and it is expected to register a CAGR of 5.4% during the forecast period (2019-2024). In 2019, North America is the largest geographical segment of the market studied and accounted for a share of around 39.2% of the overall market.

- Pet food industry is one of those industries, which has been performing well, despite the economic downturn. The worlds largest pet food markets are in the United States, France, Japan, and Germany, accounting for over half of the sales in pet food.

- According to the Association for Pet Obesity Prevention (APOP), 52.6% of the dogs and 57.6% of the cats in the United States are overweight or obese. This trend of rising obesity among pets mirrors human obesity patterns. As a result, the major players in the pet food market have started to follow human health trends, with foods to support weight loss.

- The major constraint identified in the growth of the global pet food market is the issue with the regulatory system.

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Competitive Landscape
Although, in 2016, the top players contributed around 45%-50% share of the total market, the pet food market is fragmented. However, a series of major deals among big players, like J. M. Smucker Company, Pamplona Capital Management, Spectrum Brands Holdings, and Nestle Purina Petcare, concluded recently, led to gradual consolidation in the market studied.

Latest News and Developments:

June 24, 2020: As a result of COVID-19, in-person conferences and tradeshows around the world have been impacted but professionals are seeing the value of virtual events. Petfood Forum, which has been held annually for 27 years, is no exception. The 2020 edition of Petfood Forum is going virtual as Petfood Forum CONNECT on September 9-10 and 15-17.

JULY 20, 2020: Earlier reports on pet food volume production in Mexico signaled a historical peak in March 2020, with an increase of 19% in annual terms. In April, at an early stage of the COVID-19 pandemic in Mexico, pet food volume production rose again 18.6% in annual terms, according to the INEGI (National Statistics Institute). Meaning, the pet food market saw two consecutive months of double-digit volume growth.

Scope of the Report

The pet food market is segmented by animal type (dogs, cats, birds, and other animal types), product type (dry pet food, wet pet food, veterinary diets, treats/snacks, and organic products), ingredient type (animal-derived, plant-derived, cereals and cereal derivatives, and other ingredient types), sales channel (specialized pet shops, internet sales, hypermarkets, and other sales channels), pricing type (economic segment, premium segment, and super-premium segment), and geography (North America, Europe, Asia-Pacific, and Rest of the World).

Key Market Trends:
Rising Trend of Pet Humanization
The shift in pet ownership to parenting has been a very crucial and defining trend in the pet food market, more so in the developed countries. Over a third of the households in the developed countries own a pet. Traditionally, pet owners fed their pet the leftovers and scraps from family meals. However, consumers are now becoming aware about that pet food and home-made food consist of separate nutritional elements, and that pets need to be fed a diverse range of food, as part of an adequate diet.

Buyers are looking for products, which are locally grown, or natural, or have digestive benefits. Hence, it is not a surprise that the sales of premium and specialized pet foods are higher than the sales of mid-priced products. Additionally, the pet humanization trend led to an increase in health consciousness and has generated demand for pet food free of sugars, grains, dyes, and other chemical additives.

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The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the report’s an invaluable resource for industry executives, Marketing, Sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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