|Pet Food Market 2022 Key Challenges, Operations And Future Forecast 2030|
Pet Food Market Growth & Trends
The globalpet food market size is expected to reach USD 139.29 billion by 2030, registering a CAGR of 4.4%, as per a new report by Grand View Research Inc. Packaged pet food provides standard nutritional value required in pet’s daily life. This is projected to drive market growth over the forecast period.
The number of pet owners purchasing online increased during COVID-19. E-Commerce platforms are growing increasingly and more people are exploring possible pet food companies than ever before.
The demand for pet medicines, food, and accessories has been increasing with an increase in the adoption of cats and dogs. According to the American Pet Product Association, a cat or dog owner, on average, spends between USD 200 and 300 on pet food annually.
In 2021 Europe emerged as the second-largest market for pet food after North America. The growth in this region can be accredited to the strong presence of major industry participants along with a high pet population. Increasing demand for premium pet foods is projected to drive the industry growth in the region.
Introduction to the new processing technologies along with the automated systems for the production of ingredients is anticipated to drive the growth of the market in the forthcoming years. Additionally, there is an upsurge in the adoption of drying technologies to preserve temperature-sensitive ingredients.
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Pet Food Market Segmentation
Grand View Research has segmented the global pet food market based on type, animal, and region:
Pet Foods Type Outlook (Volume, Kilotons; Revenue, USD Million; 2017 – 2030)
· Dry Food
· Wet Food
Pet Foods Animal Outlook (Volume, Kilotons; Revenue, USD Million; 2017 – 2030)
List of Key Players in Pet Food Market
· The J.M. Smucker Company
· The Hartz Mountain Corporation
· Mars Incorporated
· Hill’s Pet Nutrition, Inc
· Nestlé Purina
· Lupus Alimentos
· Total Alimentos SA
· Blue Buffalo Pet Products, Inc.
· WellPet LLC
· Diamond Pet Foods
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Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world’s renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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