As per the recent research study by Global Market Insights Inc., “Dog Food and Snack Market size is forecast to exceed $75 billion with 4% CAGR by 2025.”
Rapid urbanization and development have led to increase in elementary family’s, living in society, apartments, flats, etc. desire for adopting dog as a companion. It guides them in maintaining their regular schedules if properly trained and also adds a sense of security for the family, which is the main reason for rising humanization of dogs in families. Increasing ownership for dog and growing concern for their care and nutritious food may promote the use of dog food and snack market. Moreover, rising criminal and terrorist activities has also led to increase in number of dog recruitments by police and other defense agencies that demands for specific dog food and snack in order to provide right diet. Likewise, dog sports like greyhound racing, dog jumping, etc. a mean of entertainment that will also drive the market in the near future.
Growing concern of human allergies from dog’s fur and other related issues such as obesity in dog from nutritious food that reduces its training and makes it lazy which may lose its social productivity in security is likely to hamper the dog food and snack market.
Dog food and snack registers a CAGR over 4% by 2025. This is due to its popular use in domestic and professional practice. Moreover, dogs are the most preferred pets over other domestic animals, due to their behavior, resiliency, and their inclination to provide the owner’s family members with love and loyalty, that will drive the dog food and snack market.
Dog food by type is further classified into dry food and wet food. Dry food captures the maximum share of over 60% in 2018. It has low moisture content and includes extruded foods, flakes, etc. Whereas, wet food has high moisture content and are usually sealed under high pressure, these consist of foil trays, cans and pouches where the contents include chunks in jelly, chunks in gravy and meatloaf formats.
Dog food and snack market by distribution channels are likely to grow with a significant rate of CAGR over 4.5% by 2025 for online sellers. It is eminent as they offer wide variety of dog food and snack products with required specifications to choose from. Moreover, with increasing demand for the product and convenient use of e-commerce is likely to upsurge the dog food and snack market in the coming years.
European market size offers a subsequent share for Europe i.e. over 20% in 2018 and is expected to be the growing regional market for the dog food and treat. This is due to people in European region are adopting dogs with their increasing quality of life and with growing aged population for social comfort, security and as a companion. Thus, rising humanization towards dog will propel the dog food and snack market in the projected timeframe.
Dog food and snack market share is exceedingly competitive, with several key players accounting for a major share of total industry. The major players include Mars Petcare Inc., Colgate-Palmolive Co, Deuerer, Nestlé SA, Diamond Pet Foods, Heristo AG, Nippon Pet Food, JM Smucker Company, United Pet Group and few other major dog food producers.
By Lindsay Beaton
This country is straddling the line between developing and developed as more of its citizens see the value in pet ownership.
By Lindsay Beaton