The report "World Pet Food Market - Opportunities and Forecasts, 2014 - 2022" from market research firm Allied Analytics LLP explores various segments of market and the pet food retail trends driving the industry into the near future.
It seems likely that ingredients like omega-3 fatty acids, which are beneficial for health and frequently consumed by humans, will soon be commonly incorporated in pet food, according to the report. Low protein, low ash and easily digestible pet foods enable owners to make sure that their pets stay healthy.
Pet owners are willing to spend more on products that promote the health and happiness of their pets, according to the pet food market report. This trend makes pet food an attractive investment opportunity. Increasing disposable incomes, changing urban lifestyle, the growing tendency to view pets as status symbols, ongoing humanization trends and homogenized preferences are driving the pet food market.
The rising demand for premium and organic foods prompts manufacturers to produce high-quality products, according to the report. Increasing awareness about health and health-related issues concerning pets, such as obesity, creates opportunities in the pet food industry.
In the report, the global pet food market is primarily categorized on the basis of pet type, food type and geography. Pet type is classified into dog food, cat food, bird food, fish food and others, while the food type market is segmented into dry food, wet/canned Food, nutritious food and snacks/treats.
The report segments the pet food market into four geographic regions, namely, North America, Europe, Asia Pacific and LAMEA.
The report identifies key players in the pet food market as Mars Pet Care Inc., Nestle Purina Pet Care, Hill’s Pet Nutrition, P & G Pet Care, Del Monte Foods Corp., Heristo AG, Affinity Pet Care SA, Nutriara Alimentos, Unicharm Corp. and Total Alimentos SA.
While cat trends continue, the pandemic has added to overall slow-growth treatment of the cat food market.
Premiumization and humanization, as well as automation, fueled continued operation growth in spite of the COVID-19 pandemic.