Rapid Development in Food Processing Technology to Augment the Global Pet Food Market During the Forecast Period (2016-2027)
The global pet food market is presumed to register a remarkable CAGR during the assessment period (2016-2027) owing to the rapid development in food processing technology, asserts Market Research Future (MRFR). Pet food is termed as a commercial feed which is prepared and distributed for the consumption by pets. Pet food is specifically produced for animals such as dog, cats, etc. leftovers from the human industry is also used in the preparation of pet food through a process called rendering.
increasing obesity in pets are also major concerns restraining the market growth.
Global Pet Food Market: Segmental Analysis
The pet food market segment has been based on type, application, nutrition type, and region.
By mode of type, the global pet food market has been segmented into canned food, dry food, semi-moist food, and others. Among these, the dry food form accounts for a larger market share. The popularity can be attributed to their low moisture content and cost-effective nature which facilitates convenient handling during storage and processing.
By mode of nutrition type, the global pet food market has been segmented into fat, protein, fiber, and others.
By mode of application, the global pet food market has been segmented into reptiles, dogs, cats, aquatic, birds, small pets, and others. Among all the pets, dogs account for the largest market share. The increasing demand for dog food in developing and developed countries such as China is driving the global market during the forecast period.
The major players operating the global market are Heristo AG, Spectrum Brands/United Pet Group, Deuerer, Diamond Pet Foods, Blue Buffalo, Big Heart Pet Brands, Mars Petcare Inc., Nestlé Purina PetCare, Hill's Pet Nutrition, and Unicharm Corp.
To get more info: https://www.marketresearchfuture.com/reports/pet-food-market-1525
Drivers and Restraints Impacting the Market
The global pet food market is considered to expand at a remarkable CAGR owing to the rapid development in food processing technology. The rising trends for healthy products along with high disposable income is further influencing the growth of the market across the globe. With the growing trend for nuclear family, the crave for owning a pet is also increasing. The main reason behind the growing trend for nuclear family is the development of professional and economic constructs and rapid urbanization. The growing urban nature of the society which leads to the separation from nature and animals is augmenting the desire to bring pets home. Moreover, the increasing need for healthy, nutritious, and organic pet food due to increasing concern for animal health is anticipated to flourish the global market. Moreover, innovation in premium, specialty, and gourmet pet food products along with packaging techniques is likely to stimulate the market growth.
On the flip side, several pet food items and related ingredients cause allergies and skin diseases in pets. Also, indiscriminating feeding of available food products and humanizing pets are some of the major reasons which lead to diseases and improper animal health. Such factors are considered to impede the market growth in the coming years. Also, strict mandates, rise in product recall, and
Geographically, the market for pet food span across regions namely, North America, Europe, Asia Pacific, and Rest-of-the-World.
Among all the regions, North America is estimated to hold the largest market share during the assessment period. North America is considered to be a highly developed region and is witnessing high adoption of pets. Moreover, the use of packaged food items has increased over the years which has further influenced the pet food market.
The Asia Pacific region is considered to be the fastest-growing market. The growth in this region is attributed to the growing number of consumers willing to spend on higher quality products coupled with increasing household income. Moreover, Japan is estimated to dominate the market in this region, which is contributing to the market growth.
November 06, 2018: During the annual holiday pet food drive which is organized by Help Willy’s Friends, members of the university gets the opportunity to help animals in need. The organization supports animal rescue groups and shelters animals in need. Donations are accepted for dog and cat food, blankets, and treats to Petco, Petsmart, or Agway.
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