The pet food sector is among the fastest growing sectors within the food industry. Factors such as urbanization and a growing pet population have only fueled the progress of this industry. The total number of pet dogs owned in the US is 83.3 million. Dog foods account for 71% of the pet food sales in the US.
In the UK, 38% of the households own dogs. As pet food becomes more specialized, based on life stage and breed, pet owners prefer prepared over homemade food, to maintain the well-being of their animals. Dogs worldwide are enjoying better food and longer lives today. If you own a dog, you are majorly driving this trend. By the end of 2017, demand for pet food is expected to boost sales to USD 95.7 billion across the globe. In dog treats, Argentina is the world’s fastest-growing market, with year-on-year gains of 21% expected in 2016.
Consumers are looking at organic and natural foods and this trend is reflected on pet food as well. There is more demand for complete pet food that provides an animal’s entire nutritional needs than for complementary foods that can only be used in combination with other nutrient sources. In spite of the waning dog population and greater maturity than cat food, dog food is likely to bring a few surprises and dynamic trends in the short term.
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