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The global Dog Food Market size was USD 56.20 Billion in 2020 and is expected to register a CAGR of 4.3% during the forecast period.
NEW YORK CITY, NEW YORK, USA, March 2, 2022 /EINPresswire.com/ — The global Dog Food Market size is expected to reach USD 78.82 Billion in 2028 and register a revenue CAGR of 4.3% over the forecast period, according to the latest report by Reports and Data. Higher adoption of pet dogs, increasing consumer spending, and rapid rise in pet humanization trend are some key factors expected to drive market revenue growth over the forecast period.
Outbreak of the COVID-19 pandemic resulted in panic buying practices among consumers for storing pet food products amid lockdowns announced by governments of various countries globally. It further generated more demand for dog food infused with Cannabidiol (CBD), owing to its various health benefits. CBD-infused food products have longer shelf-life, compared to other pet foods. Also, manufacturers are aiming to expand their production facilities to cater to rising consumer demand for high-quality pet food, which, in turn, is expected to support market growth. Currently, over 3500 cannabidiol brands are present in the US food market, out of which, CBD-infused pet and human food contribute to over 30% of sales through online distribution channel.
Increasing ownership of pet dogs, particularly in emerging economies, owing to rapid urbanization is another major factor driving demand for dog food. In addition, the demand for organic and healthy food products for pet dogs to maintain overall health is growing due to rising disposable income of consumers. Also, availability of dog food with varying price ranges provides ample options for pet dog owners to purchase these food products depending on their income level. Moreover, increasing social media influence and growing trend of impulse purchases by millennials are leading to increasing pet ownership. These factors are expected to contribute to market revenue growth over the forecast period.
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Increasing consumer inclination towards functional, organic and probiotic-based food & drinks is providing impetus to the growth of global food and beverage industry. Various studies have come with health benefits associated with “ethnic” and organic food products. These foods improve cardiovascular health, improves arthritis, digestive issues, and other inflammatory conditions. Consumers are gradually focusing on mindful eating and consuming food for health and wellness. Changing eating and dietary patterns of consumers is prompting brand owners and new entrants to introduce healthy food options. Several clean-label products have been introduced into the market and consumer curiosity for new products is immense
Growing middle class consumers with rising income in developing countries such as India and China will boost food & beverage market growth. Moreover, increasing consumer preference for procuring food and beverage items from online platforms due to variety, cost and time-saving will foster market size through 2028.
The research report offers details about leading companies in the global Dog Food market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisitions, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
Some of the Leading Market Players Are Listed Below:
• Mars Inc.,
• Procter & Gamble Company,
• Nestle Purina Pet Care,
• Del Monte Foods Inc.,
• Hill’s Pet Nutrition Inc.,
• The JM Smucker Company,
• Total Alimentos SA,
• Diamond Pet Foods,
• The Hartz Mountain Corporation,
• Lupus Alimentos.
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Dog Food Market Segmentation based on Product Type Outlook:
• Dry foods
• Wet food
• Nutritious foods
Dog Food Market Segmentation based on Ingredient Type Outlook:
• Plant Derived
• Animal Derived
Dog Food Market Segmentation based on Pricing Outlook:
• Non-premium products
• Premium Products
Dog Food Market Segmentation based on Distribution Channel Outlook:
Dog Food Market Segmentation based on Regions:
• North America (US, Canada, Mexico)
• Europe (Germany, UK, France, Italy, Spain, Benelux, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Latin America (Brazil, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)
Key Features of the Global Dog Food Market:
• The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.
• The report provides accurate details related to the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.
• Company profiling with valuable expansion strategies, revenue generation, and recent developments.
• Optimum strategic initiatives for new players in the market.
• Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.
• The study also includes supply chain trends, including elaborate descriptions of the latest technological development
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March 02, 2022, 06:24 GMT
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