global-pet-food-market-industry
Published

December 2017

Pet Food Market - Global Analysis, Competitiveness & Forecasts (2017 - 2022)

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The global pet food market was valued at USD 74.9 billion in 2016. North America accounted for the largest share, of over 35% of the global market, in 2016. Europe is the second largest market, followed by Asia-Pacific with around 20% of the market share; thus, accelerating the trend of pet ownership across the globe. In North America, the United States holds the major market share of pets and pet owners, which is expected to register a high CAGR, during 2017-2022 (the forecast period).

Source: Mordor Intelligence Analysis

Key Questions Answered in the Study

  • Will Face-to-face interactions boost the pet food market in Digital Age?
  • Is low thiamine cat food the cause for Australian cat deaths?
  • Gluten-free foods and GMO foods making their mark in the pet food industry.
  • Edible insects creeping into pet food popularity.
  • Humanization and premiumization on the peak in the pet industry.
  • Will the United States and the China continue their dominance in the pet food market? What are the emerging markets?
  • Will growing market connectivity in Asian countries of Vietnam, Thailand, etc., boost the Asia-Pacific pet food market?

Market Dynamics

Flavors and textures are becoming bolder, more complex, authentic, and specific. The correlation of pet food and the modern formats, blending freeze-dried bits with kibble or treats, for texture variations, is making pet owners choose from a range of shapes, textures, and flavors. Moreover, clean labeling continues to grow. Health-conscious consumers look for permissible indulgences, like the smaller portions of treats or candies with healthier ingredients like chia seeds or yogurt. Pet treats are developing, in terms of ingredients with functional or other nutritional benefits, which is allowing pet owners to indulge their pets. New dog food products comprised of 80% of the global launches in 2015. The launches, from September 2015 to September 2016, are keeping the health-related trend intact in new products, by category. The share of cat food was around 68% globally. This trend of health and wellness has enabled good sales for the manufacturers. A few instances in this context are Hill’s Ideal Balance, a new range of dog and cat food that combines natural ingredients with Hill's perfectly balanced nutrition, is now available in South Africa. CORE® RawRev, a new high-protein grain-free product, is launched by Wellness CORE®, a family of grain-free, natural animal nutrition company.

Market Segmentation

The market study is segmented by product (dry, wet, veterinary, treats & snacks, liquid, and organic); price (economic, premium, and super premium); animal type (dog, cat, bird, and others); ingredient type (animal, plant, cereal derivate, and others); sales channel (specialized pet shops, internet, hypermarket, and others); and geographic region (North America, South America, Europe, Asia-Pacific, and Africa)

Key Players

The domestic pet food market is growing at an annual rate of above 30% in China and is poised to accelerate at the same rate till 2022, reaching CNY 150 billion, thus, making it the third-largest market, worldwide. Moreover, Hangzhou in Zhejiang Province inaugurated the first cross-border pet industry experimental zone in the city's Jianggan District. The experimental zone will pilot the reforms on the regulation and approval of cross-border imports. It will explore the introduction of national standards in the industry and promote the exportation of domestically made products. The zone, basically, enables one-stop services and aims to enroll open, transparent, and smart pet food import channels and regulatory policies. Similar efforts are being taken by the countries to focus on the growing pet population and trends. The market players are taking complete advantage of this situation and investing in R&D for innovative product launches.

  • Nestlé Purina launched a new production hall at its facility in Bük, in Hungary’s northwest, making the plant the largest production center in Europe, and opened the USD 86 million factory in Brazil. This step is expected to boost Nestlé Purina for higher production growth than the domestic market demand.
  • Carna4: Formulas Inspired by Health Food Trends. This manufacturer takes inspiration from the human health food sector to formulate innovative and whole-food recipes for dogs and cats.
  • PetLife Supersedes Expectations for the Acquisition of Dr. Geoff’s Real Food for Pets. Pet Life Pharmaceuticals, Inc., a developer of a new generation of high potency veterinary cancer medications and nutraceuticals for pets, announced that it is acquiring Dr. Geoff’s Real Food for Pets™ and expand plans for a national rollout.
  • German Company Entering Thailand. Interquell, a German-based dog and cat food company, entered the Thai industry by forming a joint venture, named Happy Pet (Thailand) Co. Ltd, with partner Technic Pet Holding, reported Pets International. Interquell, holds 49% of the joint venture. Interquell owns the Happy Dog and Happy Cat premium brands.

Source: Mordor Intelligence Analysis

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