Global Pet Food Market Revenue, Opportunity, Segment and Key Trends 2023

Bharat Book Bureau Provides the Trending Market Research Report on “Global Pet Food Market - Forecasts from 2018 to 2023”under Food & Beverage category. The report provides information on industry overview, market size, latest developments, industry trends, Key players, global presence, and their future prospects.

The Global Pet Food Market was valued at US$90.822 billion in 2017 and is projected to expand at a CAGR of 3.76% over the forecast period to reach US$113.33 billion by 2023. Pet food is the food material consumed by the pets which are sold either in pet stores or in the supermarkets. Pet food is specific according to the type of animal like dog food or fish food or cat food. Rising disposable income in regions with high pet ownership is increasing the capacity of people to spend on pet food. Moreover, increasing pet humanization across many regions is increasing the demand for quality food products for pets.

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Availability of a wide range of pet food products with diverse flavors and nutritional values is driving the global pet food market. Strategic mergers and acquisitions by the existing market players and increasing investments in pet food industry by the private equity firms are further contributing to the market growth. For instance, in April, 2017, “I and love and you”, a U.S. based premium dog and cat food brand received a significant growth investment from L Catterton, which is one of the largest consumer-focused private equity firms in the world.

This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical region. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the pet food value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.

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