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Pet Food Market Scope and overview, Overview with details Analysis, Competitive Landscapes, Forecast to 2022-2030 | Archer Daniels Midland Company, DSM, Nestle SA (Purina)

The Pet Food Market size was US$ $$ billion in 2020. The global keyword market is forecast to reach the value of US$ $$ billion by 2027 by growing at a compound annual growth rate (CAGR) of $% during the forecast period from 2021-2027.

A multitude of health issues has become a grave issue for pet owners. Pets are afflicted with numerous diseases like digestive disorders, arthritis, brain aging, skin allergies, and obesity.

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Over the years, the growing range of pet-owners has resulted in an intensive demand for pet food. There is a vast population who has adopted the trend of keeping pets owing to the nuclear family structure and changing lifestyle. The focus of individuals on pet health and wellness is growing. Pet owners are excessively concerned about pet health over the past few years on account of several problems, including obesity. Diseases like diabetes, high blood pressure, and arthritis have been significantly increasing among cats and dogs, causing immense discomfort and pain. Hence, owners have been strictly shifting to low-calorie and high-nutrition products to maintain pet health. The Food and Drug Administration (FDA) ensures that the ingredients used in pet foods are enlisted on the labels based on weight. In addition, it assesses claims on pet foods such as “maintains urinary tract health,” “low magnesium,” and “hairball control,” are anticipated to further propel demand for pet food globally, over the forecast years.

“Global Pet Food Market, by Product, by Pet Type, by Sales channel, by Region, Trend Analysis, Price Trends Analysis, Competitive Market Share and Forecast, 2015-2025” The global pet food market is anticipated to grow with a significant growth rate during the forecast period 2021-2027.

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Among product, dog food accounts for the largest market size in the global pet food market during the forecast period.

Dog Food is the leading segment in the overall pet food market and estimated to lead the market over the forecast period. Dogs need various kinds of nutrients to live a healthy life like fatty acids, minerals, water, proteins, carbohydrates, and vitamins. Owing to their high nutritional value, lower generation of waste, and longer storage, they are mainly targeted for the young animal. Pet owners have been focusing on providing food that contains these nutrients in order to keep them healthy. This is projected to fuel demand for nutritious food over the coming years. Availability of a varied range of pet food products with various flavors and nutritional , is propelling the global pet food market. Further, the advantages associated with dry pet food like enriching environment and convenience in cleaning teeth have fueled the growth of the product market.

COVID-19 Impact

The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Pet Food Market also experienced a slowdown. Statista estimates that the Pet Food Market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Pet Food Market generated revenues of US$ 5.4 trillion at a record high.

The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Pet Food Market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.

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Asia-Pacific is the fastest growing region of the global pet food market during the forecast period.

Geographically, North America dominates the overall pet food industry and projected to lead the market over the forecast period. Rising necessity for nutritious, healthy, and organic pet food on account of increasing awareness regarding animal health is expected to augment market demand. Increasing life expectancy across the world has led to older generation adopting pets to guide them through routine chores. Delayed parenthood in many urban areas of the country is also a trend saw in recent years which is expected to enhance product demand over the coming years. Asia-Pacific is projected to have healthy growth throughout the forecast period.

Global Pet Food Market Competitive Landscape

Companies such as Cargill, Archer Daniels Midland Company, DSM, Nestle SA (Purina), DIAMOND PET FOODS INC., Hill’s Pet Nutrition, Merrick Pet Care, Ainsworth Pet Nutrition, MARS INC., Agrolimen SA, Nutriara Alimentos Ltd., WELLPET LLC, THE J. M. SMUCKER COMPANY (BIG HEART PET BRANDS), HERISTO AG are the leading players of pet food market across the globe.

The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of global pet food market size & forecast. The report promises to provide state-of-the-art technology of pet food and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

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