World Pet Food Market to Register 3.94% CAGR to 2021, Projects Azoth Analytics in Its New Report Available at MarketPublishers.com06 Feb 2017 • by Natalie Aster
LONDON – Worldwide, the pet food marketplace is projected to show healthy growth, registering a 3.94% CAGR to 2021. The growth in the market is propelled by the rising demand for grain free products alongside natural pet foods. Further, an upsurge in ownership of pet dogs and cats in tandem with expanding global trend of pet humanisation and pet food premiumisation are amid the key forces that are poised to give a boost to the market growth in the years to come.
The market is seeing increased M&A activity, with big brands acquiring the smaller companies with a view to increasing their product diversity and market expansion.
Based on products, the dog food segment grabs the lion’s share of the overall market and is set to dominate the market over the forecast period. With respect to the derivative type of the animal, grain free and GM products are increasing the market share.
Geography-wise, APAC dominates the market and is set to see 4.42% CAGR to 2021. The increase in pet ownership and pet owners’ surging awareness to switch from the domestic brands to international brands act as the key factors of the growth of region’s market.
Diamond Pet foods, Nestle Purina Petcare, Mars Petcare Inc., Blue Buffalo, Invivo Animal & Health Nutrition, and Heristo Aktiengesellschaft(AG), among others, are amid the most prominent market players.
New research report “Global Pet Food Market” elaborated by Azoth Analytics is devoted to examining the worldwide pet food market, segmenting it based on food type, animal type, and by region and nation.
The study gives detailed product overview. It then proceeds with an analysis of the global market covering historical (since 2012) and current market sizing, and includes projected market values to 2021. The report provides detailed market size estimates for the submarkets as well as of the leading regional and country markets. The report reviews the different industry trends, examines key market drivers and challenges. Porter’s five forces analysis is available, too. The report scrutinises the competitive landscape and gives details about the top 8 firms operating in the global pet food industry. Valuable strategic recommendations are provided in the report, too.
To find more new research studies by Azoth Analytics, please visit this page at MarketPublishers.com.