Global pet food market value to reach US$ 154.04 Billion by 2027, exhibiting a CAGR of 5.42% during 2022-2027.
BROOKLYN, NEW YORK, UNITED STATES, February 22, 2023 /
EINPresswire.com/ -- According to IMARC Groupโs latest report, titled โ๐๐๐ญ ๐
๐จ๐จ๐ ๐๐๐ซ๐ค๐๐ญ: ๐๐ฅ๐จ๐๐๐ฅ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐ซ๐๐ง๐๐ฌ, ๐๐ก๐๐ซ๐, ๐๐ข๐ณ๐, ๐๐ซ๐จ๐ฐ๐ญ๐ก, ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ ๐๐ง๐ ๐
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โ, the global pet food market reached a value of US$ 112.87 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 154.04 Billion by 2027, exhibiting a CAGR of 5.42% during 2022-2027.
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Pet food is specially formulated for domesticated animals to meet their specific nutritional needs. It comprises ingredients such as cereals, grains, vitamins, meat and meat by-products, fish derivatives, fats, oils, and fruits and vegetables. The meat derivatives used in pet food are a by-product of the human food industry. Currently, fresh, canned, dry, and semi-moist pet foods, as well as kibbles, biscuits, and treats are some of the commonly available product variants.
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Pet Food Market Trends:
The growing demand for quality pet food and the rising trend of pet adoption are some of the key factors contributing to the market growth. Moreover, the inflating consumer per capita income and the burgeoning awareness regarding pet health are providing an impetus to the market growth. In line with this, key players in the market are investing in advanced technology to introduce innovative and nutritious pet food products using organic raw materials and natural flavorings, which, in turn, is bolstering the market growth. Furthermore, rising pet humanization and the availability of pet food in various retail outlets, including hypermarkets, supermarkets, pet stores, and online retailers, are accelerating the market growth. Apart from this, the introduction of premium packaged and branded pet food and rising consumer awareness regarding the benefits of pet food are positively supporting the market growth.
๐๐ฎ๐ฒ ๐๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ:
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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
โข Mars Petcare Inc.
โข Nestlรฉ Purina Pet Care
โข Hill's Pet Nutrition
โข The J.M. Smucker Company
Key Market Segmentation:
The report has categorized the market based on pet type, product type, pricing type, ingredient type and distribution channel.
Breakup by Pet Type:
โข Dog Food
โข Cat Food
โข Others
Breakup by Product Type:
โข Dry Pet Food
โข Wet and Canned Pet Food
โข Snacks and Treats
Breakup by Pricing Type:
โข Mass Products
โข Premium Products
Breakup by Ingredient Type:
โข Animal Derived
โข Plant Derived
Breakup by Distribution Channel:
โข Supermarkets and Hypermarkets
โข Specialty Stores
โข Online Stores
โข Others
Breakup by Region:
โข North America (United States, Canada)
โข Europe (Germany, France, United Kingdom, Italy, Spain, Others)
โข Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
โข Latin America (Brazil, Mexico, Others)
โข Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
๐๐ฌ๐ค ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง ๐๐ง๐ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐ฎ๐ฅ๐ฅ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐๐๐ & ๐๐ข๐ฌ๐ญ ๐จ๐ ๐
๐ข๐ ๐ฎ๐ซ๐๐ฌ:
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Key highlights of the report:
โข Market Performance (2016-2021)
โข Market Outlook (2022-2027)
โข Market Trends
โข Market Drivers and Success Factors
โข Impact of COVID-19
โข Value Chain Analysis
โข Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Related Reports by IMARC Group:
Animal Feed Market
Organic and Natural Pet Food Market
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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