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The global pet food market size reached US$ 98.3 Billion in 2018. Looking forward, the market value is projected to reach US$ 128.4 Billion by 2024, growing at a CAGR of 4.5% during 2019-2024.
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3. Report DescriptionReport Description and Highlights
Global Pet Food Market Overview:
According to the latest report by IMARC Group, titled “Pet Food Market: Global Industry Trends, Share,
Size, Growth, Opportunity and Forecast 2019-2024”, the global pet food market size reached US$ 98.3
Billion in 2018. Over the years, there has been a rise in pet adoption rates across the globe, which has
accelerated the demand for pet food. Various studies conducted by the manufacturers have also
increased the knowledge of pet nutrition among owners. In line with this, they are now opting for
products which ensure palatability and meet the nutritional requirements of pets. Moreover,
manufacturers are introducing pet food which is formulated according to the specific breed, age and
size of pets in smaller, disposable, single-serve containers in order to offer convenience to both the
pets and their owners.
Pet Food Market Trends
Pet owners have started to treat their pets as a member of the family and have become highly
sensitive towards their pets’ needs. This trend of pet humanization has encouraged pet food
companies to develop healthier and organic products which aid in reducing or controlling weight and
avoiding obesity.
4. Report DescriptionReport Description and Highlights
120.2
125.5 130.8 136.1 141.4 146.7 152.0 157.3
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2011 2012 2013 2014 2015 2016 2017 2018
inBillionUS$
160.0 165.3 170.6 175.9 181.2 186.5
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InBillionUS$
Besides this, the rapid expansion of the e-commerce sector has popularized the online retailing of pet
food since it is convenient and profitable for both the buyers and sellers. Moreover, governments of
several countries have taken initiatives to protect pet health by regulating the manufacturing process
and promoting the use of safe and healthy ingredients. Looking forward, the market value is projected
to reach US$ 128.4 Billion by 2024, growing at a CAGR of 4.5% during 2019-2024.
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5. Report DescriptionReport Description and Highlights
In addition, it has also led to several innovations in the taste and flavor of pet food with recipes
showing a strong influence from social dining.
Key Market Segmentation:
Market Segmentation by Pet Type
• Dog Food
• Cat Food
• Others
Based on the pet type, dog food currently accounts for more than half of the total global market share,
followed by cat food and others.
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Market Segmentation by Product Type
• Dry Pet Food
6. Report Description
Report Description and Highlights
• Wet and Canned Pet Food
• Snacks and Treats
On the basis of the product type, the report finds that dry pet food holds the largest share in the
market. Some of the other popular product types include wet and canned pet food, and snacks and
treats.
Market Segmentation by Pricing Type
• Mass Products
• Premium Products
The market has been categorized based on the pricing type into mass and premium products. Amongst
these, premium products dominate the market, holding the largest share.
Market Segmentation by Ingredient Type
• Animal Derived
• Plant Derived
7. Report DescriptionReport Description and Highlights
Based on the ingredient type, the market has been segregated into animal-derived and plant- derived
pet food. Amongst these, animal-derived ingredients represent the leading segment.
Market Segmentation by Distribution Channel
• Supermarkets and Hypermarkets
• Specialty Stores
• Online Stores
• Others
The market has been classified on the basis of the distribution channel into supermarkets and
hypermarkets, specialty stores, online and others. Presently, supermarkets and hypermarkets are the
largest distribution channel.
Market Segmentation by Region
• Asia Pacific
8. Report DescriptionReport Description and Highlights
• Europe
• North America
• Middle East and Africa
• Latin America
Region-wise, North America exhibits a clear dominance in the market. Other major regions include
Asia Pacific, Europe, Latin America, and Middle East and Africa.
Competitive Landscape:
The competitive landscape of the market has also been examined with some of the key players.
• Mars PetCare Inc
• Nestlé Purina PetCare,
• Hill's Pet Nutrition
• Proctor & Gamble Co
• Del Monte Foods
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Partial List of Clients
10. A partial List of our Clients
We are the trusted business partners to the
world's leading corporates, governments, and
institutions
Partial List of Clients