Dog Food Market: Catering to Canine Wellness Trends

"The Business Research Company recently released a comprehensive report on the Global Dog Food Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The dog food market size has grown strongly in recent years. It will grow from $36.67 billion in 2023 to $39.59 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to traditional pet ownership, limited product varieties, veterinary recommendations, limited health and specialty products, brand loyalty, limited online presence.

The dog food market size is expected to see strong growth in the next few years. It will grow to $53.88 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to humanization of pets, focus on health and wellness, product diversification, e-commerce expansion, sustainability concerns. Major trends in the forecast period include technology integration, premiumization and health focus, e-commerce and direct-to-consumer channels, personalization and customization, sustainability and ethical sourcing.

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Market Drivers and Trends:

Increasing dog adoption is expected to propel the growth of the dog food market going forward. Dog adoption refers to the purchase of a dog from a shelter or charity. The practice of humanizing pets is becoming more common. As a result, there is an increase in dog ownership, and people are giving their pets more nutritious food. For instance, in November 2022, according to a national survey of pets and people published by Animal Medicines Australia (AMA), an Australia-based industry body representing the leaders of the animal health industry in Australia, about half of Australian households have at least one dog, making them the most common pet. In 2022, 48% of households had dogs, up from 40% in 2019. Therefore, the increasing dog adoption is driving the growth of the dog food market.

Product innovations are a key trend gaining popularity in the dog food market. Major companies operating in the dog food market are adopting new technologies to strengthen their position in the market. For instance, in March 2023, Jolly Pets, a US-based pet products company, launched Fill'n Treat, its first all-natural consumable pet treat. Roasted peanuts, palm oil, and powdered pumpkin powder are three natural ingredients used in the creation of the dessert, which comes in the Peanutty Stuffer taste. The treat can fit inside a dog toy. Gluten, preservatives, added sugars, salt, high fructose corn syrup, xylitol, and artificial flavors and colors are all absent from Fill'n Treat.

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Major Key Players of the Market:

Nestle SA, Mars Inc., General Mills Inc., Colgate-Palmolive Company, The J.M. Smucker Company, H&H Group, Diamond Pet Foods, Blue Buffalo Pet Products Inc., Unicharm PetCare Corporation, Affinity Petcare SA, Freshpet Inc., Merrick Pet Care, Champion Petfoods USA Inc., WellPet LLC, Real Pet Food Company Pty. Ltd., Russo Mangimi SpA, Nature's Variety, Fromm Family Foods LLC, Nutro Products Inc., Rollover Pet Food Limited, Evanger's Dog & Cat Food Company Inc., Boulder Dog Food Company, Canidae LLC, Solid Gold Pet LLC, Dave's Pet Food, Party Animal Inc., PetGuard Holdings LLC, Del Monte Pet Products Inc., JustFoodForDogs, Annamaet Pet Foods Inc., Beaphar Pet Healthcare Products

Dog Food Market 2024 Key Insights:

• The dog food market size is expected to see strong growth in the next few years. It will grow to $53.88 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
• Rising Dog Adoption Trends Fueling Surge In Nutrient-Rich Dog Food Market
• Jolly Pets Introduces All-Natural Fill'N Treat Reinforcing Technological Advancements In The Dog Food Market
• North America was the largest region in the dog food market in 2023

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This release was published on openPR.