Research Nester’s recent market research analysis on “Pet Food Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global pet food market in terms of market segmentation by pet, form, nature, source, distribution and by region.
Growing Demand for Customized Pet Food to Boost the Growth of Global Pet Food Market
The global market for pet food is set to rise on account of growing demand for customized pet food. Customized pet food has grown increasingly popular in established regions, and in the upcoming year, it will likely expand across emerging countries additionally. This is because of increased pet owner awareness regarding feeding their animals based on their needs, which include things such as weight, age, sex, breed, and overall health. This further reduces the likelihood of allergies as well as additional health risks brought on by feeding pets improper food. As a result, pet food item customization is expected to increase dramatically.
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Moreover, organic pet food consists of natural ingredients which do not include pesticides, synthetic fertilizers, artificial coloring, antibiotics, and chemical by-products. These natural products provide various health benefits for pets, such as reduced lower risk of skin diseases & allergies, and others. Additionally, natural pet foods can be efficiently digested by pets since they include large protein sources. Natural food also enables pets to have proper bowel movements. Therefore, the market demand for organic pet food is estimated to rise.
Some of the major growth factors and challenges that are associated with the growth of the global pet food market are:
Growth Drivers:
• Rising Demand for Customized Pet Food
• Growing Production of Organic Food
Challenges:
The components required to produce pet food, which includes grains, meat, and veggies, are very expensive. Furthermore, different environmental problems, expanding supply chain disruptions, and global market dynamics are just a few examples that are expected to raise pet food costs and have a negative influence on manufacturers' profitability. As a result, prominent players now face even more competition. It is therefore anticipated that the pet food market will be hampered.
By form, the market for pet food is segmented into wet, semi-moist, and dry. Out of these segments, the dry segment is predicted to gather the highest revenue of over USD 145 billion over the forecast period. This growth is set to be dominated owing to the fact that they are easy to store and lead to the least amount of mess when served. Moreover, dry food provides crunch and chewing to the pets, which further regulates their general health. Additionally, dry food has a longer shelf life in comparison to wet food. Furthermore, the dry food price is also low, hence, a large number of the general population prefer buying it. Hence, the market demand for dry food is estimated to rise over the coming years.
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By region, the North America market for pet food is predicted to gather the highest share in the market of about 30% over the coming years. This growth of the market is projected to be encouraged by the growing urban population. Moreover, the e-commerce website site is surging in this region, which is additionally encouraging the number of options for the products. Therefore, the market for pet food is growing in this region.
This report also provides the existing competitive scenario of some of the key players of the global pet food market which includes company profiling of J.M. Smucker Company, Wellness Pet, LLC., Affinity Petcare SA, Agroindustrias Baires, Agrolimen SA, BRF Global, Canidae LLC, Diamond Pet Foods, General Mills Inc., Heristo AG, and others.
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