With the growing culture of pet humanisation, dog owners have started treating their dogs as family members. Owing to this, the focus of the pet food industry has also shifted towards the health and wellness solutions. Additionally, product premiumisation has incited dog owners to demand for the best food products for their pets. Not only do they look up for flavours and taste but also demand products with high nutritional benefits, good quality ingredients and high manufacturing standards.
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Currently, the dog food market represents a multibillion dollar business and the largest segment of the global pet care market. According to a new report by Expert Market Research, the global dog food market reached a value of US$ 49 Billion in 2016 and is further expected to reach US$ 62 Billion by 2022. The market growth can be accredited to a number of factors. With rising dog ownership in both developed and emerging markets, there has been a surge in the global demand for dog food. Moreover, increasing consumer awareness on the benefits of quality pet food has also facilitated the market growth. Some of the other growth inducing factors include rising disposable incomes, changing lifestyle, rapid urbanisation and product innovations.
Key findings from the report:
Different types of dog food include dry dog food, dog treats and wet dog food. In 2016, dry dog food represented the most popular type of dog food, with the majority of the market share. It has a comparatively lower price and is convenient in terms of storage and feeding as it can be left out for longer time without any fear of spoilage.
Region-wise, North America dominated the market with a share of more than a third of the total global market. Some of the other major markets include Europe, Asia-Pacific, Middle East and Africa, and South America.
Being highly concentrated in nature, the global dog food market is surrounded by the top three players with the majority of shares. These include Mars, Nestle and Colgate-Palmolive. Some of the other players include Hills Pet, Iams (P&G), Eukanuba (P&G), Del Monte Foods, Diamond Pet Foods, Blue Buffalo, Heristo AG and Affinity Petcare SA.
Keeping in mind the requirements of consumers, these players are broadening their product portfolio by offering nutritious and organic products.
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Expert Market Research has analysed the global dog food market according to types, major regions and top players:
Market breakup by Type
Dry Dog Food
Wet Dog Food
Market breakup by Region
Middle East and Africa
Del Monte Foods
Diamond Pet Foods
Affinity Petcare SA
Browse more reports related to food & beverage industry: http://www.expertmarketresearch.com/categories/food-beverages-market-reports
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