Pet Food Market 2020–Global Industry Trends, Share, Size, Growth, Outlook And Forecast 2035

Pet Food Market: Covid 19 Implications And Growth - By Types (Dog, Cat And Other Pet Food), By Ingredient (Animal Derivatives, Plant Derivatives And Synthetic), By Distribution Channels (Internet Sales, Hypermarkets, Specialized Pet Shops And Others), And By Region, Opportunities And Strategies – Global Forecast To 2035 By The Business Research Company

The global pet food market reached a value of nearly $74,554.1 million in 2019, having increased at a compound annual growth rate (CAGR) of 2.7% since 2015. The market is expected to register a slow growth from $74,554.1 million in 2019 to $ 75,494.8 million in 2020 at a growth rate of 1.26%. The slow growth is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 5.6% from 2021 ad reach $ 88,478.1 million in 2023.

The Key drivers of the pet food market include:-
Increasing Demand For Premium And Organic Pet Food: The pet owners concern about their pets’ health is driving the demand for premium and organic pet foods, thus spurring the market for pet foods manufacturing during the period. Pet owners often view pets as family members and are willing to spend on best pet products and services therefore they are buying organic and premium products to feed their “fur babies”. Organic pet foods are free from artificial colors, flavors, antibiotics, synthetic hormones, toxic pesticides and preservatives whereas premium pet foods contain higher quality ingredients than economy or generic pet foods.

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Pet Food Market Segmentation:-
By Type
1. Dog Food
2. Cat Food
3. Other Pet Food

The dog food market was the largest segment of the pet food market segmented by type, accounting for 61.3% of the total in 2019. Going forward, the dog food segment is expected to be the fastest growing segment in the pet food market, at a CAGR of 4.7%.

By Distribution Channel
1. Hypermarkets
2. Specialized Pet Shops
3. Internet Sales
4. Others

The others market was the largest segment of the pet food market segmented by distribution channel, accounting for 54.1% of the total in 2019. Going forward, the internet sales segment is expected to be the fastest growing segment in the pet food market, at a CAGR of 26.4%.

By Type Of Ingredient
1. Animal Derivatives
2. Plant Derivatives
3. Synthetic

The animal derivatives market was the largest segment of the pet food market segmented by ingredient, accounting for 40.8% of the total in 2019.

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By Geography - The pet food market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa

Some of the major key players involved in the pet food market are
1. Mars, Incorporated
2. Nestle S.A.
3. The J.M. Smucker Company
4. Colgate-Palmolive Company
5. Diamond Pet Foods Inc.

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.

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