According to IMARC Group, the global pet food market reached a value of US $ 108 billion in 2020, and is expected to grow at a CAGR of 4.3% during the period 2021-2026.
According to the latest report by IMARC Group, titled “Pet Food Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2021-2026”, the pet food market has reached a worth $ 108 billion in 2020. Commercially available foods formulated for consumption by pets. It is usually prepared by combining agricultural and animal grade ingredients including meat, fish, grains, vegetables, feed grain by-products, etc. These foods are a rich source of minerals, vitamins, proteins, carbohydrates, etc. which help meet the dietary and nutritional needs of pets. Their consumption offers various benefits, such as improving metabolism, preventing disease, maintaining the quality of the animal’s skin and coat, etc.
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The increasing number of pet owners and the emerging trend towards humanization of animals are mainly contributing to the growth of the pet food market. Additionally, growing concerns about the health of pets are further increasing the demand for food products that help fight allergies and skin infections and improve the overall health and life expectancy of pets. With this in mind, several key players are offering more innovative products to guarantee palatability and meet the nutritional needs specific to the breed, age and size of pets. Additionally, many pet food associations and federations implement strict laws for manufacturers to produce safe, high quality pet food. In addition, the increasing consumer preferences for natural formulations and the emergence of organic variants are further expected to drive the market growth during the forecast period. Looking ahead, IMARC Group expects the global pet food market to grow at a CAGR of 4.3% during the period 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are constantly monitoring changes in the markets, as well as the industrial behaviors of consumers around the world and our estimates on the latest market trends and forecasts are made afterwards. examining the impact of this pandemic.
Competitive landscape with key players:
Mars Petcare Inc.
Nestlé Purina Pet Care
Hill’s Pet Nutrition
JM Smucker Company
Market segmentation :
Breakdown by type of pet:
Breakdown by region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, others)
Latin America (Brazil, Mexico, others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)
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Highlights of the report:
Market performance (2015-2020)
Market Outlook (2021-2026)
Market drivers and success factors
The impact of COVID-19 on the global market
Value chain analysis
Global market structure
Complete mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as part of the customization.
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