ALBANY, N.Y.--(BUSINESS WIRE)--A recent market study published by Transparency Market Research based on the pet food industries in the Middle East and Latin America states that the pet food markets in the Middle East and Latin America are projected to witness stable growth between 2014 and 2020.
The pet food market in the Middle East had reached a value of US$239.6 million in 2013. It is expected to expand at a CAGR of 5.6% during the period of 2014 to 2020 to reach an expected value of US$350.5 million by the end of the forecast period, whereas the Latin America pet food industry stood at US$8,202.1 million in 2013 and is projected to develop at a 3.4% CAGR during the forecast period to reach an estimated value amounting to US$10,361.0 million by the end of 2020. The rise in the awareness regarding the health of pets is the key driving force behind the growth of these markets.
The report, titled “Pet Food Market - Middle East And Latin America Industry Analysis, Trend, Size, Share and Forecast 2014 - 2020”, provides a comprehensive assessment of the industry considering various aspects of the industry spread across the Middle East and Latin America.
By food type, the dry pet food market accounted for the biggest share in the pet food markets across the Middle East and Latin America, while, by pet type, the dog food segment took the biggest chunk. However, nutritious pet food is likely to register the fastest growth in the coming years in both regions.
Royal Canin, Pedigree, Proctor and Gamble and Whiskas are the major participants in the pet food industries in the Middle East and Latin America.
Diabetic Food Market: http://www.transparencymarketresearch.com/diabetic-food-market.html
About Transparency Market Research
Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.