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The increasing adoption of pets and the increasing demand for personalized dog food are key drivers of the market’s revenue growth
NEW YORK CITY, NEW YORK, UNITED STATES, Nov. 24, 2021 /EINPresswire.com/ – The global dog food market is projected to reach US $ 78.82 billion in 2028 and will show an annual revenue growth rate of 4.3% over the forecast period as of the latest report from Reports and Data. Greater pet dog adoption, increasing consumer spending, and a rapid surge in the pet humanization trend are some key factors that are expected to drive market sales growth over the forecast period.
The increasing ownership of domestic dogs, especially in emerging markets, due to rapid urbanization is another major factor driving demand for dog food. In addition, the demand for organic and healthy pet food to maintain overall health is growing due to the increasing disposable income of consumers. The availability of dog food in different price ranges also offers dog owners numerous opportunities to buy these food products depending on their income level. Additionally, the increasing influence on social media and the growing trend towards impulse buying by millennials are leading to increased pet ownership. These factors are expected to contribute to the growth in market revenue during the forecast period.
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The outbreak of the COVID-19 pandemic resulted in panic buying practices among consumers for the storage of pet food products amid lockdowns announced by governments of various countries around the world. It has led to further demand for cannabidiol (CBD) infused dog foods due to its various health benefits. CBD-infused food products have a longer shelf life compared to other pet foods. In addition, manufacturers are striving to expand their manufacturing facilities to meet increasing consumer demand for high quality pet food, which in turn should support market growth. There are currently over 3,500 brands of cannabidiol present in the U.S. grocery market, of which CBD-fortified pet and human foods account for over 30% of sales via the online sales channel.
Some key companies featured in the market report are Mars Inc., Procter & Gamble Company, Nestlé 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 and Lupus Alimentos.
Some key highlights from the report:
• In terms of product type, the largest share of sales in 2020 came from the dry feed segment. Dry dog food is beneficial for improving oral health and reducing tartar build-up on pets’ teeth. Dry food also provides chewing and crunching, which are necessary for maintaining overall health. Unlike wet food, it doesn’t need to be frozen.
• By ingredient type, the plants segment is expected to have a faster CAGR revenue rate over the forecast period. Plant-based food provides dogs with a good amount of energy because it is high in nutrients without the adverse effects of food based on animal meat and its derivatives. Thus, herbal ingredients contribute to a balanced diet in order to maintain the general well-being of pets. In addition, these ingredients help maintain dogs’ weight while ensuring healthy and longer lives at the same time.
• The non-premium products segment is expected to grow steadily in the near future. Non-premium dog food is relatively inexpensive and because of this factor, such food can easily be consumed by a larger proportion of pet parents. However, these types of foods must be fed in large quantities to ensure maximum nutrition for pets for the maintenance of health and wellbeing.
• The dog food market in North America had the largest share of sales in 2020 as consumer awareness of the various health benefits of organic food and the increasing humanization trend among domestic dogs increased. In addition, the presence of some established dog food manufacturers in developed countries such as the United States is expected to have a positive impact on market growth in that region.
To know more about the report @ https://www.reportsanddata.com/report-detail/dog-food-market
For the purposes of this report, Reports and Data has segmented the global Dog Food Market by Product Type, Ingredient Type, Price, Distribution Channel, and Region:
Product Type Outlook (Revenue, $ Billion; 2018-2028)
• Dried animal food
• wet food
• Snacks / treats
• Nutritious food
Ingredient Type Outlook (Revenue, $ Billion; 2018-2028)
• Derived from plants
• Derived from animals
Price Outlook (Revenue, $ Billion; 2018-2028)
• Non-premium products
• Premium products
Sales Channel Outlook (Revenue, Billion USD; 2018-2028)
Regional Outlook (Revenue, Billion USD; 2018-2028)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Reasons to Buy This Report:
• This report provides an in-depth analysis of changing competitive dynamics
• It offers a forward-looking perspective on various factors that drive or inhibit market growth
• It provides a six year forecast that is valued based on projected market growth
• It helps in understanding the key product segments and their future
• It offers a precise analysis of the changing competitive dynamics and keeps you ahead of your competitors
• It assists in making informed business decisions by having complete market insights and in-depth analysis of the market segments.
• PEST analysis of the market in the five main regions.
Table of contents:
1. Market overview
2. Competitive analysis by players
3. Company profiles (top players)
4. Dog Food Market Size by Type and Application
5. US market status and outlook
6. Status and outlook of the dog food market
7. Development status and outlook for the Japanese market
8. China market status and outlook
9. Market status and outlook for the Indian dog food market
10. Market Status and Outlook in Southeast Asia
11. Market forecast by region, type and application
12. Market dynamics
13. Market Effects Factor Analysis
14. Research Findings / Conclusions
Finally, all aspects of the Dog Food market are assessed both quantitatively and qualitatively in order to conduct a comparative study of the global as well as regional market. This market study presents critical information and factual data about the market and offers an overall statistical study of this market on the basis of market drivers, restraints, and future prospects. The report provides international economic competition with the help of Porter’s Five Forces Analysis and SWOT Analysis.
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Reports and Data is a market research and advisory firm that provides syndicated research reports, bespoke research reports, and advisory services. Our solutions focus solely on your purpose of locating, addressing and analyzing changes in consumer behavior across demographics and industries, and helping customers make smarter business decisions. We offer market research studies that ensure relevant and fact-based research across a wide range of industries including healthcare, technology, chemistry, energy, and energy. We are constantly updating our research offerings to ensure that our customers are informed about the latest trends in the market.
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November 24, 2021, 4:25 PM GMT
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