The Business Research Company’s Pet Food Market – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 29, 2021 /EINPresswire.com/ — The pet food market consists sales of goods and services by entities (organizations, sole traders and partnerships) associated with manufacturing cat and dog food and other animal food from ingredients such as grains, oilseed mill products and meat products. The industry includes the establishments that produce dog food, cat food, and other animal food. Other animal includes birds, mammals and aquatic animals.
Major players covered in the global pet food industry are Mars, Incorporated, Nestle S.A., The J.M. Smucker Company, Colgate-Palmolive Company, Diamond Pet Foods Inc.
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Pet food manufacturers are increasingly investing in cannabidiol (CBD) infused pet food to cater to the increasing demand fueled by the COVID-19 pandemic. Moreover, pet food manufacturers are providing pet foods that are personalized from customer’s end and emerging as a new trend in the pet food market. The manufacturers prepare customized food according to the details provided by the customers such as preferences of grain or grain free food for dog, nutritional values to be added according to his activities and few other details.
The global pet food market is expected to recover from COVID-19 crisis and grow from $75.49 billion in 2020 to $88.48 billion in 2023 at a compound annual growth rate of 5.6%.
Going forward, increasing demand for premium and organic pet food, influence of digital media marketing and social media, rising demand due to increase in stockpiling of pet food, increasing feeding of stray animals and other abandoned pets, and increasing demand for pets will drive the growth.
Factors that could hinder the growth of the pet food market in the future include reductions in free trade, and supply chain disruption.
The pet food market is segmented into dog food, cat food, other pet food, hypermarkets, specialized pet shops, internet sales, others, animal derivatives, plant derivative, synthetic.
Pet Food Market – Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides pet food market overview, forecast pet food market size and growth for the whole market, pet food market segments, and geographies, pet food market trends, pet food market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Animal And Pet Food Global Market Report 2021 – By Type (Pet Food, Animal Food), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, E-Commerce), By Ingredients (Animal Derivatives, Plant Derivatives, Synthetic), COVID-19 Impact And Recovery
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