Global Pet Food Market to Reach US$ 118 Billion by 2022

Owing to an increase in the nuclear families, aging population and growing urbanisation rates, people have started turning to animals for companionship. As a result, there has been a major rise in the global pet population in recent years, due to which, there has been an increase in the demand for pet foods. According to Expert Market Research, the global pet food market reached a value of US$ 89.3 Billion in 2016 and is further expected to reach US$ 118 Billion by 2022.

Owing to an increase in the nuclear families, aging population and growing urbanisation rates, people have started turning to animals for companionship. As a result, there has been a major rise in the global pet population in recent years, due to which, there has been an increase in the demand for pet foods. According to Expert Market Research, the global pet food market reached a value of US$ 89.3 Billion in 2016 and is further expected to reach US$ 118 Billion by 2022.

Request for sample click here: http://www.expertmarketresearch.com/request?type=report&id=45&flag=B

There are several factors that are stimulating the growth of the global market for pet food. With rising pet population, there has been a trend of pet humanisation which has made pet owners to treat their pets as their family members. Consequently, pet owners are now conscious about the well-being of their pets and are ready to increase their expenditure on nutritional and high-quality pet food. Moreover, i0ncreasing cases of obesity and other diseases among pets have augmented the demand for nutritious and organic products. Other factors like growing demand for premium products, easy availability of pet food, convenient packaging, innovations in flavours, and increase in variety and organic products are also fuelling the demand for pet foods.

Key findings from the report:
Different types of pet food available in the market are dog food, cat food and others. In 2016, dog food dominated the market accounting for the majority of the global sales value.

Region-wise, the United States dominated the market with a share of more than a quarter of the total global sales in 2016. This can be attributed to a rise in pet ownership in the region. The United States was followed by Brazil, Japan, the United Kingdom, France, Germany, Russia and Italy.

The global pet food market is surrounded by a number of small and big players operating in the market. In 2016, Mars Petcare Inc. represented the biggest player accounting for nearly one-fourth of the total global sales. Mars Petcare Inc. was followed by Nestle Purina PetCare, Hill’s Pet Nutrition and Big Heart Pet Brands.

Expert Market Research has analysed the global pet food market according to type, major regions and top players:

Market breakup by Type
Dog food
Cat food
Others

Market breakup by Major Regions
United States
Brazil
Japan
United Kingdom
France
Others

Top players
Mars Petcare Inc.
Nestle Purina PetCare
Hill’s Pet Nutrition
Big Heart Pet Brands
Others

Read full report click here: http://www.expertmarketresearch.com/reports/pet-food-market

Find more reports related to Food & Beverages Market Research @ http://www.expertmarketresearch.com/categories/food-beverages-market-reports

Expert Market Research (EMR) is a market research and consultancy firm providing syndicated and custom research along with consultancy services to a wide clientele base which includes Fortune 1000 companies as well as small and medium enterprises. With our tailored approach, the clients gain valuable and unbiased insights that help to improve their competitive edge and realize sustainable growth.

With a keen focus on the qualitative aspect as well as accuracy of the reports, we align our resources and services as per the client’s requirement and offer a flexible engagement model that best suits their needs. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical & Materials, Energy & Mining, Packaging and Agriculture.

Expert Market Research
85 Broad St
New York, NY 10004
United States
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

This release was published on openPR.