Global Dog Food Market is Anticipated to Cross US$ 64 Billion by 2024


Posted May 23, 2019 by ivosmith98

Demand for Premium Products Catalyzing Global Dog Food Market

 
Dog food refers to commercially prepared food which provides a proper nutritional diet to dogs. It is available in dry (kibble), wet and semi-moist forms. Dog food is generally fortified with ingredients such as oatmeal, potatoes, pea protein, bone meal, chicken, sugar-based sweeteners and liver chunks. As a result, it is extremely rich in carbohydrates, proteins, vitamins and minerals, and helps in maintaining appropriate weight and energy levels. Dog food also increases immunity, improves digestion, and strengthens bones, muscles, and teeth.

A new research report by IMARC Group, titled “Dog Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the market was worth more than US$ 51 Billion in 2018, growing at a CAGR of around 4% during 2011-2018.

Market Summary:

The rising trends of premiumization and pet humanization across the world have led to a shift towards premium dog food products which have enhanced nutritional content. Moreover, manufacturers are developing innovative and healthier product varieties which comply with stringent manufacturing standards. Further, a number of initiatives have been taken by the governments of several countries to promote awareness about the overall wellness of pets and the importance of using high-quality pet food products. Some of the other factors contributing to the growth of the market include the rising culture of dog ownership, growing geriatric population, elevating income levels and improving standards of living. Looking forward, the market is anticipated to cross US$ 64 Billion by 2024, at a projected CAGR of nearly 4% over the next five years.

Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/dog-food-manufacturing-plant

About Us

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.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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Last Updated May 23, 2019