PUBLISHER: The Business Research Company | PRODUCT CODE: 1282934
PUBLISHER: The Business Research Company | PRODUCT CODE: 1282934
“Dog And Cat Food Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on dog and cat food market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for dog and cat food? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The dog and cat food market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major companies in the the dog and cat food market are: Nestle Purina Pet care, The J M Smucker Company, Evanger's Dog & Dog Food Company Inc., Procter & Gamble Co., Hill's Pet Nutrition Inc., Del Monte Foods Inc., Affinity Pet care S A, Nutro Products Inc., Unicharm PetCare Corp., Total Alimentos SA, Nutriara Alimentos Ltd., Party Animal Inc., Rollover Pet Food Ltd., Burgess Group PLC, and Freshpet.
The global dog and cat food market is expected to grow from $54.70 billion in 2022 to $58.40 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The dog and cat food market is expected to reach $72.89 billion in 2027 at a CAGR of 5.7%.
The dog and cat food market consists of sales of raw meat-based and home-cooked foods. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Dog and cat food refers to any feed prepared and distributed for consumption by dogs or cats and formulated according to their nutritional needs. They are used to provide more calories and nutrients.
North America was the largest region in the dog and cat food market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in dog and cat food report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The food types of dog and cat food are dry food, wet food, treats and snacks and others. Dry food refers to food that is produced by combining wet and dry materials to create dough. The nature involved is organic and conventional which are sold by supermarkets and hypermarkets, specialized pet shops, online, and other sales channels.
The rising pet adoption is expected to propel the growth of the dog and cat food market going forward. Pet adoption refers to the act of adopting a pet from a prior owner who has abandoned it or given it to a shelter. It involves taking custody of and assuming responsibility for the animal. Pet adoption increases the demand for dog and cat food to fulfil the nutritional requirement of the pets, so rising pet adoption will propel market growth. For instance, in 2021, according to Chewy Inc., a US-based online retailer of pet food and other products, there were around 977,202 pets adopted in the US 2021, which resulted in the highest adoption rate of 61% in the past six years. Therefore, the rising pet adoption is driving the dog and cat food market.
Product innovations are a key trend gaining popularity in the dog and cat food markets. Major companies operating in the dog and cat food market are focused on developing innovative products to strengthen their market position. For instance, in November 2020, Nestle Purina Pet care, a US-based producer of pet food, treats, and cat and dog litter, launched Purina Beyond Nature's Protein, a pet food with plant and insect proteins. It is uniquely made with alternative proteins that include insects as well as plant protein from fava beans and millet to deliver all the essential amino acids dogs and cats need. The millet and fava beans enable us to provide dogs and cats with protein, energy, and fiber to aid digestion.
In February 2023, Mars Incorporated, a US-based producer of confectionery, pet food, and other food products acquired Champion Pet foods LP for an undisclosed amount. Through this acquisition, Mars Incorporated will combine resources with Champion Pet foods to complement Mars's global portfolio across pet nutrition products and health services and also to create a better world for pets. Champion Pet foods LP is a US-based premium pet food company with the finest WholePrey animal ingredients.
The countries covered in the dog and cat food market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The dog and cat food market research report is one of a series of new reports from The Business Research Company that provides dog and cat food market statistics, including dog and cat food industry global market size, regional shares, competitors with dog and cat food market share, detailed dog and cat food market segments, market trends, and opportunities, and any further data you may need to thrive in the dog and cat food industry. This dog and cat food market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.