October 06, 2022 12:00 ET | Source: SPHERICAL INSIGHTS LLP SPHERICAL INSIGHTS LLP

New York, United States, Oct. 06, 2022 (GLOBE NEWSWIRE) -- To address the needs of diverse animal species and age groups, the key worldwide market participants are focusing their efforts on creating a wide range of pet food products. Recently, businesses like General Mills, Nestle, and Mars Inc. have introduced luxury food products to grab consumers' attention and satisfy the needs of expanding pets. To make better use of the planet's resources, Nestle Purina, for instance, created pet food based on alternative proteins in November 2020. Among the choices are insects and plant proteins from fava beans and millet. Similar to this, General Mills, Inc. declared that their new cat food would go on sale in March 2021.

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Growing Pet Ownership in Developing Countries

Convenience advantages are anticipated to be the primary driver of demand for dry organic and natural pet food. Contrary to the majority of traditional pet feeds, organic and natural pet foods are frequently used. The demand for dog food is anticipated to expand over the anticipated time period, and the premium pet food segment is anticipated to gain ground. Dry dog food is significantly more in demand than its competitors due to its simplicity in storage and ability to be fed to dogs without creating a mess. Urban consumers, who are increasingly choosing dry pet food, will benefit from this.  

The increase in pet ownership has been mostly attributed to young people. More than half of new pandemic pet parents are between the ages of 16 and 34. Current pet owners are another important factor in pet purchases; 42% of them have acquired a new animal after the lockdown. During COVID-19, 74% of pet owners said their animal companions had improved their mental health.

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COVID-19 has an extremely damaging effect on the food industry's supply chain. The pet food business originally experienced supply and cash flow issues as a result of restrictions on the movement of raw materials. On the other side, demand for pet food grew progressively over the world as more individuals adopted pets in response to a growing need for company during the lockdown. To meet this need, market players have switched their attention away from physical storefronts and toward e-commerce platforms, increasing their investments in the creation of their own websites. On the other side, as more individuals adopted pets in reaction to a greater desire for company during the lockdown, pet food consumption steadily climbed in many parts of the world. Participants in the market are attempting to meet this need.

One of the main market drivers is expected to be the rising prevalence of pet ownership worldwide, particularly in emerging nations. Rising urbanization and the humanization of pets are pushing pet owners to choose wholesome and high-quality food for their animals, which is further accelerating the market's growth rate.

Segmentation of Global Pet Food Market

Around 85 million American families, or about 67 percent of all households, own pets, according to a poll conducted by the American Pet Products Association (APPA).  Find below regions covered in the report.

The global pet food market is competitive, with a number of global & regional players operating. Some of the key players are

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Chapter 1.    INTRODUCTION 1.1.    Study Assumptions and Market Definition 1.2.    Scope of the Study Chapter 2.    RESEARCH METHODOLOGY 2.1.    Research approach 2.2.    Scope, definition, and assumptions 2.3.    Data Component 2.3.1.    Secondary Component 2.3.1.1.    Preliminary data mining 2.3.2.    Primary Component 2.3.2.1.    Statistical Model 2.3.2.2.    Data Triangulation 2.3.2.3.    Research Objective Chapter 3.    EXECUTIVE SUMMARY Chapter 4.    MARKET INSIGHT Chapter 5.    ASSESSMENT OF COVID-19 IMPACT ON THE INDUSTRY Chapter 6.    MARKET DYNAMICS Chapter 7.    MARKET SEGMENTATION 7.1.    By Animal Type  7.1.1.    Dog 7.1.2.    Cat 7.1.3.    Others 7.2.    By Form  7.2.1.    Dry 7.2.2.    Wet 7.2.3.    Semi-moist 7.2.4.    Others 7.3.    By Source 7.3.1.    Animal-based 7.3.2.    Plant-based 7.3.3.    Others  7.4.    By Distribution Channel  7.4.1.    Supermarkets/Hypermarkets 7.4.2.    Specialty Pet Food Stores 7.4.3.    Online 7.4.4.    Others Chapter 8.    Global Pet Food Market Overview, By Geography, 2017 - 2030(USD Million) Chapter 9.    North America Pet Food Market Overview, By Countries, 2017 - 2030(USD Million) Chapter 10.    Europe Pet Food Market Overview, By Countries, 2017 - 2030(USD Million) Chapter 11.    Asia Pacific Pet Food Market Overview, By Countries, 2017 - 2030 (USD Million) Chapter 12.    Middle East & Africa Pet Food Market Overview, By Countries, 2017 - 2030 (USD Million) Chapter 13.    South America Pet Food Market Overview, By Countries, 2017 - 2030 (USD Million) Chapter 14.    COMPETITIVE LANDSCAPE 14.1.    Company Profiles 14.1.1.    Mars Incorporated 14.1.2.    Nestle S.A. 14.1.3.    The J.M. Smucker Company 14.1.4.    Colgate-Palmolive Company 14.1.5.    General Mills, Inc. 14.1.6.    Others Chapter 15.    LIST OF TABLES Chapter 16.    LIST OF FIGURES Chapter 17.    INVESTMENT ANALYSIS Chapter 18.    FUTURE OF THE MARKET

Table of Content and Figure @ https://www.sphericalinsights.com/table-of-contents/pet-food-market  

What pet products are in high demand?

North America Dominates the Pet Food Market

Global B2B Food Market

In the research, pet food market FAQs are covered.

How big is the pet food market? What is the pet food market growth? What is the total market value of the Pet Food Market report? What is the market value of the Pet Food Market in 2020? What is the market size of pet food? What is the biggest pet market? How big is pet food market in US? How big is the pet market in Malaysia?

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