Advancementsintechnologypertainingtotheproductionandpackagingofpetfoodplayacrucialroleinmarketgrowth.Theintegrationofmoderntechnologyinmanufacturingprocessesisenablingtheproductionofawidervarietyofpetfoodwithimprovednutritionalvalueandalongershelflife.Forinstance,BrightPetNutritionGroupunveiledarefreshedbrandpresenceforitsBlackwoodpetnutritionportfolioatGlobalPetExpo2024,heldMarch20–22inOrlando.Therebrandprecedesseveralnewproductlaunchesplannedforthebrandlaterthisyear,includingnewmealtoppers,freeze-driedsingleingredienttreats,andgranolatreats,aswellasnewbrandingforBlackwood’sOvenBakedBites.ThenewpackagedesignsfortheBlackwoodportfolioaimtocommunicatefreshness,quality,andhealthbenefitstoconsumerswithenhancedformulations.
ExpandingRetailandE-CommerceChannels
Theescalatingnumberofonlineandofflineretailchannelsfortheeasydistributionofpetfoodisanotherfactorbolsteringthemarketgrowth.Variouskeycompaniesareexpandingtheirofflineretailstoresinordertoexpandtheircustomerbase.Forinstance,DurkhaDogChewannouncedwillsoonopenitsfirstcommercial-scaleproductionfacilityforyakcheesechewsinNepal.ThefacilityisexpectedtoopeninApril2024andwillproduce50tonsofyakcheesechewsinthefirstsixmonthsofproduction.Itisanticipatedtodoubletheproductioncapacityto100tonspermonthwithin12monthsofopening.Inadditiontothis,theexpansionofonlineretailstoresinthepetfoodindustryisalsocontributingtothemarketgrowth.Forinstance,intheUnitedStates,onlinesalesofpetcare,includingfood,increasedfrom32%in2020to40%in2022.
IMARCGroupprovidesananalysisofthekeytrendsineachsegmentofthemarket,alongwithforecastsattheglobalandregionallevelsfor2025-2033.Ourreporthascategorizedthemarketbasedonpettype,producttype,pricingtype,ingredienttype,anddistributionchannel.
BreakupbyPetType:
Dogfoodaccountsforthemajorityofthemarketshare
Thereporthasprovidedadetailedbreakupandanalysisofthemarketbasedonthepettype.Thisincludesdogfood,catfood,andothers.Accordingtothereport,dogfoodrepresentedthelargestsegment.
Thedogfoodsegmentholdsthelargestshareinthepetfoodmarket,drivenbythesubstantialglobalpopulationofdogsandtheirdietaryneeds.Dogshadahighershareofpetexpenditure,accountingfor39.4%in2022,mainlyduetotheirhigherconsumptionofpetfoodthancats,withpremiumpetfoodbeingthemostpopularfoodchoice.Consumersprioritizethehealthandwell-beingoftheircaninecompanions,leadingtoademandforawiderangeofdogfoodproducts.
BreakupbyPricingType:
Massproductsholdsthelargestshareinthemarket
Adetailedbreakupandanalysisofthemarketbasedonthepricingtypehasalsobeenprovidedinthereport.Thisincludesmassandpremiumproducts.Accordingtothereport,massproductsaccountedforthelargestmarketshare.
Themassproductssegmentintheglobalpetfoodmarketholdsthelargestshareofconsumersseekingbudget-friendlyandwidelyavailablepetfoodoptions.Thissegmentcaterstopetownerswhoseekaffordabilitywhileensuringtheirpetsreceiveadequatenutrition.Mass-producedpetfoodbrandsprovidearangeofproducts,suchasdrykibbleandcannedfood,designedtofulfillthebasicdietaryneedsofpets.
BreakupbyProductType:
Drypetfoodholdsthelargestshareintheindustry
Thereporthasprovidedadetailedbreakupandanalysisofthemarketbasedontheproducttype.Thisincludesdrypetfood,wetandcannedpetfood,andsnacksandtreats.Accordingtothereport,drypetfoodrepresentedthelargestsegment.
BreakupbyIngredientType:
Animalderivedrepresentsthemostwidelyusedingredienttype
Adetailedbreakupandanalysisofthemarketbasedontheingredienttypehasalsobeenprovidedinthereport.Thisincludesanimalandplantderived.Accordingtothereport,animalderivedaccountedforthelargestmarketshare.
Theanimal-derivedsegmentinthepetfoodmarketholdsasignificantshare.Thiscanbeattributedtotherisingpopularityoftraditionalmeat-baseddietsforpets.Petownersoftenpreferanimal-derivedingredients,suchaschicken,beef,andfish,astheyareperceivedtobeasourceofessentialproteinsandnutrientsfortheirpets.RecentresearchfromscientistsinPortugalandGermany,publishedinFrontiersinVeterinaryScience,dovedeepintotwonovelproteinsourcesforuseinpetfood.Accordingtothestudy,squidmealandshrimphydrolysateshowpromiseasproteinsourcesindogfood.
BreakupbyDistributionChannel:
Petfoodismajorlydistributedthroughsupermarketsandhypermarkets
Adetailedbreakupandanalysisofthemarketbasedonthedistributionchannelhasalsobeenprovidedinthereport.Thisincludessupermarketsandhypermarkets,specialtystores,onlinestores,andothers.Accordingtothereport,supermarketsandhypermarketsaccountedforthelargestmarketshare.
Supermarketsandhypermarketsarethedominantdistributionchannelsinthepetfoodmarket.Inrecenttimes,specialtystoresarealsogainingprominenceacrosstheworld.Forinstance,PetSmartwasthelargestpetspecialtyretailchaininNorthAmericaasofMarch2022intermsofstorecount,withatotalof1,669stores.Retailgiantsliketheseofferawidevarietyofpetfoodbrands,makingthemconvenientone-stopshopsforpetowners.Consumersoftenchoosetheseoutletsduetotheiraccessibility,competitivepricing,andtheabilitytophysicallyinspectproducts,makingthemthelargestsegmentinthemarket.
BreakupbyRegion:
NorthAmericaleadsthemarket,accountingforthelargestpetfoodmarketshare
Themarketresearchreporthasalsoprovidedacomprehensiveanalysisofallthemajorregionalmarkets,whichincludeNorthAmerica,AsiaPacific,LatinAmerica,andtheMiddleEastandAfrica.Accordingtothereport,NorthAmericaaccountedforthelargestmarketshare.
Themarketresearchreporthasalsoprovidedacomprehensiveanalysisofthecompetitivelandscapeinthemarket.Competitiveanalysissuchasmarketstructure,keyplayerpositioning,topwinningstrategies,competitivedashboard,andcompanyevaluationquadranthasbeencoveredinthereport.Also,detailedprofilesofallmajorcompanieshavebeenprovided.Someofthemajormarketplayersinglobalpetfoodindustryinclude:
(Pleasenotethatthisisonlyapartiallistofthekeyplayers,andthecompletelistisprovidedinthereport.)
TheglobalpetfoodmarketwasvaluedatUSD125.1Billionin2023.
WeexpecttheglobalpetfoodmarkettoexhibitaCAGRof4.6%during2024-2032.
Theemergingtrendofpethumanization,alongwithgrowingconsumerconcernstowardspethealth,areprimarilydrivingtheglobalpetfoodmarket.
ThesuddenoutbreakoftheCOVID-19pandemichasledtothechangingconsumerinclinationfromconventionalbrick-and-mortardistributionchannelstowardsonlineretailplatformsforthepurchaseofpetfood.
Basedonthepettype,theglobalpetfoodmarketcanbesegmentedintodogfood,catfood,andothers.Currently,dogfoodholdsthemajorityofthetotalmarketshare.
Basedontheproducttype,theglobalpetfoodmarkethasbeendividedintodrypetfood,wetandcannedpetfood,andsnacksandtreats.Amongthese,drypetfoodcurrentlyexhibitsacleardominanceinthemarket.
Basedonthepricingtype,theglobalpetfoodmarketcanbecategorizedintomassproductsandpremiumproducts.Currently,massproductsaccountforthemajorityoftheglobalmarketshare.
Basedontheingredienttype,theglobalpetfoodmarkethasbeensegregatedintoanimalderivedandplantderived,whereanimalderivedpetfoodcurrentlyholdsthelargestmarketshare.
Basedonthedistributionchannel,theglobalpetfoodmarketcanbebifurcatedintosupermarketsandhypermarkets,specialtystores,onlinestores,andothers.Currently,supermarketsandhypermarketsexhibitacleardominanceinthemarket.
Onaregionallevel,themarkethasbeenclassifiedintoNorthAmerica,Europe,Asia-Pacific,LatinAmerica,andMiddleEastandAfrica,whereNorthAmericacurrentlydominatestheglobalmarket.
Expandingretailande-commercechannelsandadvancementsintechnologypertainingtoproductionandpackagingaresignificanttrendsinthepetfoodmarket.
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