DUBLIN–(BUSINESS WIRE)–The “Pet Foods – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Amid the COVID-19 crisis, the global market for Pet Foods estimated at US$87.4 Billion in the year 2020, is projected to reach a revised size of US$107.8 Billion by 2027, growing at a CAGR of 3% over the analysis period 2020-2027.
Dry Food, one of the segments analyzed in the report, is projected to record a 4% CAGR and reach US$35.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Snacks/Treats segment is readjusted to a revised 3.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $23.6 Billion, While China is Forecast to Grow at 5.6% CAGR
The Pet Foods market in the U.S. is estimated at US$23.6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$22.3 Billion by the year 2027 trailing a CAGR of 5.7% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.8% and 2.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.5% CAGR.
Nutritious Food Segment to Record 2.3% CAGR
In the global Nutritious Food segment, USA, Canada, Japan, China and Europe will drive the 1.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$11.7 Billion in the year 2020 will reach a projected size of US$13.4 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$14.9 Billion by the year 2027, while Latin America will expand at a 3.1% CAGR through the analysis period.
Select Competitors (Total 148 Featured):
- Affinity Petcare SA
- Aller Petfood LLC
- Barking Heads & Meowing Heads Pet Food UK Ltd.
- BHJ A/S (Denmark)
- C&D Foods Ltd.
- Diamond Pet Foods, Inc.
- Heristo AG
- Hill`s Pet Nutrition, Inc.
- INABA PETFOOD Co., Ltd.
- LUPUS Alimentos
- Mars, Inc.
- Nestle Purina PetCare Company
- The J.M. Smucker Company
- Total Alimentos SA
- Tuffy`s Pet Foods Inc.
- Yantai China Pet Foods Co. Ltd.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Pet Foods: An Industry Driven by Passion for Pets
- Market Outlook
- Developing Countries Offer Strong Prospects
- Rise in Pet Population and Growth Opportunities Ahead
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Pet Health & Wellness: An Overriding Theme
- Premiumization Intensifies in Pet Foods
- Veterinary Diets Gain Importance
- Rise in Preference for Raw Animal Protein
- Cell Cultured Meat, A Futuristic Approach
- Increasing Role of Labeling in Driving Sales
- Manufacturers Launch Novel Products to Stay Competitive
- Humanization of Pet Foods: A Major Trend
- Nutrigenomics Gain Place in Product Innovations
- Use of Sustainably Farmed Ingredients on Rise
- Artisan and Gourmet Pet Treats Rise in Popularity
- Issues Encountered in Traditional Pet Food Paves Way for Organic Foods
- Customized Pet Food Gains Traction
- Interest in Raw Food on Rise
- Inclusion of Whole Ingredients in Pet Foods Gains Traction
- Rising Demand for Pet Nutraceuticals Adds New Growth
- Higher Moisture Content in Pet Foods Adds to Health Benefits
- Dry Food Preferred Over Wet
- Adaptive Technologies, Future of Pet Food Processing
- Packaging Trends for Pet Foods
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- UNITED STATES
- UNITED KINGDOM
- REST OF EUROPE
- SOUTH KOREA
- REST OF ASIA-PACIFIC
- LATIN AMERICA
- REST OF LATIN AMERICA
- MIDDLE EAST
- SAUDI ARABIA
- UNITED ARAB EMIRATES
- REST OF MIDDLE EAST
For more information about this report visit https://www.researchandmarkets.com/r/khovrp
Laura Wood, Senior Press Manager
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