Global Animal Food Market Growth Scanario, Trends, Covid-19 Impact, Incredible Possibilities, Global Analysis and Forecasts To 2024
Rise in the awareness about the nutritional requirement of animals is creating space for the growth of animal food market. Earlier, pet owners used to feed scraps and leftovers from the family meal, which used to cause allergic reactions in pets. Nowadays, they are considering the nutritional elements in adequate diet that pets require for their overall growth.
One trend that is observed in recent years is pet-parenting. The trend is shaping the animal food market in the developed country. Statistically, over one third household of developed countries own pet. These owners tend to provide best of care to the pets in terms of veterinary or food.
The buyers are becoming concerned about the food items and tend to purchase food items that are natural, locally grown, and offers digestive benefits. These factors are pushing the sale of specialized and premium pet food items. The premium pet foods are high on demand when compared to mid-priced products. Further, pet humanization is creating huge opportunity for animal food market. This is resulting in increased health consciousness among pet owners. Further, it is generating demand for pet food items free of chemical additives, sugars, dyes and grains.
The pet food market is segmented into cat, dog, bird, and others. The dog food market is likely to dominate among all other segments and is expected to grow rapidly in the forecast period. Further, bird food also offers growth opportunity for animal food market.
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Government bodies are also introducing programs encouraging adoption of pets. This, in turn, is enhancing the adoption rate of dogs and cats. Rising concern about the health of pets is resulting investment on health and pet food items. Thereby, fuelling the expansion of animal food market. In the entire pet food market, dogs and cats contribute in total of 80% of the share. Further, dogs’ food are dominating in the animal food market.
The global animal food market report covers all its pivotal aspects in order to confirm or deny market speculations and help create a uniform and consistent conclusion regarding the global animal food market’s future. The report thus helps visualize a trajectory for the market, along which companies can generate their own portfolio and strengthen their market position.
One of the more important aspects that the research report on the global animal food market tackles is the impact of certain food products on the health and well-being of animals. Certain products have been proven to cause pets discomfort or even illness, making consumers averse to buying them.
The report offers a holistic snapshot of the global animal food market by outlining the elementary components that have effected changes in the market to date. Descriptive analyses help establish the data foundation for the report. This includes analyses on all the current product segments, the developments and news items, market share analysis, current trends, distribution channels in retail, and the relevant consumer groups. The report additionally examines the huge potential that has been generated by the emerging economies of the world. To achieve a few of these points, the report utilizes Porter’s Five Force Analysis and a SWOT analysis.
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Overview of the Global Animal Food Market
Evolving practices in pet care and animal husbandry have created a wider choice of food and fodder for animals. This is further characterized by the high level of competition in the global animal food market. A larger number of consumers are now more careful about grooming their pets. Their greater level of awareness has led to major and minor changes in the global animal food market. The most consistent change is the constant improvements in the quality of existing products while trying to reduce their cost, thanks to the large influx of companies vying for a share of the market.
The key segments in the global animal food market are created using products as a criterion. Among these are various types of dog foods and cat food, various types of dog and cat treats, and other items and consumables. Each segment is modified by various factors such as the changing lifestyle of pet owners, the increasing appeal of nuclear families, the rapid rate of urbanization in developing economies, and increase in awareness of pet health requirements among owners. The global animal food market is also largely benefitted by the rise in disposable income of individuals.
From a geographical perspective, Asia Pacific holds the key to the growth of the global animal food market in the near future. The improving economies of the Asia Pacific countries means it will be easier for pet owners to afford better quality pet care and foods. This has caused a higher rate of activity among the global players in the global animal food market, as they try to increase their penetration into this region.
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Companies mentioned in the research report
The key players in the global animal food market are Chomp, Inc., Newman’s Own Organic, BilJac Foods, Inc., LLC., Annamaet PetFoods, Bell Rock Growers, Inc., Active Life Pet Products, Azmira Holistic Animal Care, Arkat Nutrition, Chenango Valley Pet Foods, Inc., Artemis Company, Beowulf Natural Feeds, Inc., Cloud Star Corporation, Nutro Products, Inc., Breeder’s Choice Pet Foods, Inc., BalanceDiet, Blue Seal Feeds, Inc., and Bench & Field Pet Foods.
