According to IMARC Group’s latest report, titled “Pet Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global pet food market reached a value of US$ 108 Billion in 2020. Pet food is prepared by using plant and animal extracts that are safe for pet consumption. It generally contains meat by-products, seafoods, cereals, legumes, fats and oils. It provides essential nutrients, such as proteins, minerals, vitamins, calcium and phosphorus, which aids in preventing skin allergies and infections while improving the overall health of pets. Furthermore, it also ensures the overall development and life expectancy of pets.
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The global market is primarily driven by the increasing preference for pet adoption and the rising trend of pet humanization among the masses. Moreover, the growing health concerns regarding pet health among pet parents are providing a boost to the sales of premium and fortified product variants across the globe. Some of the other factors contributing to the market growth include inflating disposable incomes of individuals, the proliferation of online and offline organized retail channels and the increasing investments by key players to launch natural and organic product variants in the market. Looking forward, IMARC Group expects the global pet food market to grow at a CAGR of 4.3% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Mars Petcare Inc.
- Nestlé Purina Pet Care
- Hill's Pet Nutrition
- The J.M. Smucker Company
Market Segmentation:
Breakup by Pet Type:
- Dog Food
- Cat Food
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- 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.
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