Animal and pet food Market To Grow At A Higher Rate
Posted January 10, 2019 by srikanthgtbrc
The animal and pet food market size is expected to reach $250 billion by 2022, significantly growing at a CAGR of around 4% during the forecast period.
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The global animal and pet food market is forecast to grow at a CAGR (compound annual growth rate) of around 4 % to 2022.
Animal And Pet Food Market Trends
Grain-free dog foods, premiumization of pet foods and rise of pet food ecommerce are the major trends witnessed in the global animal and pet food market.
With increase in demand for pet food due to increasing pet population, rapid urbanization, rising disposable income in emerging countries such as China and India, rising humanization of pets, increasing availability of premium pet food brands and growing online sales of pet food. Pet humanization is a trend, wherein pet owners care and spend for pets like they do for a family member, this phenomenon drove the market for expensive pet food products, the scope and potential for the global Animal And Pet Food market is expected to significantly rise in the forecast period.
The global animal and pet food is primarily driven by increasing pet adoption in many developed and developing countries, rising disposable income in many countries in Asia and Africa and rising awareness about pet care.
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The global animal and pet food market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.
With emergence of increase in demand for pet food due to increasing pet population, rapid urbanization, rising disposable income in emerging countries such as China and India, rising humanization of pets, increasing availability of premium pet food brands and growing online sales of pet food the global animal and pet food is expected to increase in potential and scope. TBRC’s report also covers the global animal and pet food market report drivers and restraints in the market.
The global animal and pet food market segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.
The top companies included in the global animal and pet food report are Nestlé Purina, Mars Petcare Inc., Big Heart Pet brands , Blue Buffalo, Hill's Pet Nutirion.
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| Contact Email | [email protected] |
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| Categories | Business , Industry , News |
| Tags | animal and pet food market , pet food market |
| Last Updated | January 10, 2019 |