寵物食品的全球市場 - 成長、趨勢、預測:2020年∼2025年
Pet Food Market - Growth, Trends And Forecast (2020 - 2025)
|出版商||Mordor Intelligence LLP||商品編碼||392254|
|出版日期||內容資訊||英文 158 Pages
|寵物食品的全球市場 - 成長、趨勢、預測:2020年∼2025年 Pet Food Market - Growth, Trends And Forecast (2020 - 2025)|
|出版日期: 2020年04月01日||內容資訊: 英文 158 Pages||
The global pet food market (henceforth, referred to as the market studied) was valued at USD 87.08 billion in 2018 and it is expected to register a CAGR of 5.4% during the forecast period. In 2019, North America is the largest geographical segment of the market studied and accounted for a share of around 39.2% of the overall market.
Rising Trend of Pet Humanization
The shift in pet 'ownership' to 'parenting' has been a very crucial and defining trend in the pet food market, more so in the developed countries. Over a third of the households in the developed countries own a pet. Traditionally, pet owners fed their pet the leftovers and scraps from family meals. However, consumers are now becoming aware about that pet food and home-made food consist of separate nutritional elements, and that pets need to be fed a diverse range of food, as part of an adequate diet.
Buyers are looking for products, which are locally grown, or natural, or have digestive benefits. Hence, it is not a surprise that the sales of premium and specialized pet foods are higher than the sales of mid-priced products. Additionally, the pet humanization trend led to an increase in health consciousness and has generated demand for pet food free of sugars, grains, dyes, and other chemical additives.
North America Dominates the Pet Food Market
Increasing pet humanization and pet ownership, the emergence of private label store brands, and growing urbanization are some of the major driving forces propelling the growth of the North American pet food market. The market is driven by heavy influences from human nutrition, which is driving research to better and safer food for pets that have high nutritional and dietary benefits. Additionally, locally-sourced products and ethically-sourced products are propelling the market, due to the small manufacturers extending their presence in the domestic market.
According to 2017-2018, National Pet Owners Survey, conducted by the American Pet Products Association (APPA), 68% of the US households (about 85 million families) own a pet. The expenditure on pets in the country increased from 41.2% in 2007 to 69.4% in 2017.
The Global Pet Food Market is consolidated with the top global players occupying a major share in the market. The competition in the market is driven by consumer loyalty. Since pets would crave for the same kind of food every time during any particular growth stage, gaining market share of competitors is very tough in the market. The major players in the Global Pet Food Market are: Mars, Inc., Nestle Purina Petcare Company, Colgate-Palmolive Company (Hill's Pet Nutrition, Inc.), The J.M. Smucker Company (Big Heart Pet Brands, Inc.), and Blue Buffalo Pet Products, Inc., among others.