Global Pet Food Industry Report 2023: A $160+ Billion Market by 2028 - Trends, Share, Size, Growth, Opportunities and Forecasts Featuring Mars Petcare, Nestle, Hill's, and J.M. Smucker - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Pet Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global pet food market size reached US$ 118.9 Billion in 2022. Looking forward, the market is set to reach US$ 161.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.35% during 2023-2028.

This report provides a deep insight into the global pet food industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a pet food manufacturing plant.

Over the years, the growing number of pet-owners has resulted in an extensive demand for pet food. Research and studies conducted by the manufacturers have also increased their knowledge of pet nutrition. In-line with this, they are now offering products which ensure palatability and meet the nutritional requirements of pets.

Moreover, several pet food associations and federations have introduced strict legislation for the manufacturers to produce safe and high-quality pet food.

Global Pet Food Market Drivers:

As pet food helps in combating skin allergies and infections as well as improving the overall health and life expectancy of pets, the owners are increasingly looking for pet food products that address these health concerns. Manufacturers are also introducing products specific to the breed, age and size of pets in smaller, disposable, single-serve containers in order to offer convenience to both the pets and owners.

Apart from this, pet food companies are developing organic variants which are made using ingredients that are grown without the use of pesticides, synthetic fertilizers, hormones or antibiotics. This has increased consumer's interest in natural formulations, thereby increasing the potential of the companies to further diversify their offerings.

Key Questions Answered in This Report:

• What was the size of the global pet food market in 2022?
• What is the expected growth rate of the global pet food market during 2023-2028?
• What are the key factors driving the global pet food market?
• What has been the impact of COVID-19 on the global pet food market?
• What is the breakup of the global pet food market based on the pet type?
• What is the breakup of the global pet food market based on the product type?
• What is the breakup of the global pet food market based on pricing type?
• What is the breakup of the global pet food market based on the ingredient type?
• What is the breakup of the global pet food market based on the distribution channel?
• What are the key regions in the global pet food market?
• Who are the key players/companies in the global pet food market?

Key Attributes:

Report Attribute	Details
No. of Pages	142
Forecast Period	2022 - 2028
Estimated Market Value (USD) in 2022	$118.9 Billion
Forecasted Market Value (USD) by 2028	$161.6 Billion
Compound Annual Growth Rate	5.2%
Regions Covered	Global

Key Market Segmentation:

Breakup by Pet Type:

On the basis of pet type, the market is segmented into dog food, cat food and others. Currently, dog food dominates the market due to increasing dog ownership coupled with the rising pet humanization trend across the globe.

Breakup by Product Type:

Based on product type, dry pet food represents the most popular product type as it is more affordable and has a long-standing market presence.

Breakup by Pricing Type:

The market is also categorized on the basis of pricing into mass products and premium products. Amongst these, mass products account for the majority of the global sales.

Breakup by Ingredient Type:

On the basis of ingredient type, the report finds that animal derived pet food is the leading segment.

Breakup by Distribution Channel:

Based on distribution channel, supermarkets and hypermarkets currently hold the largest share as they offer convenience to the consumers.

Regional Insights:

Region-wise, North America enjoys the leading position in the global pet food market on account of the growing pet adoption rate in the region. Other major regions include Asia-Pacific, Europe, Latin America, and Middle East and Africa.

Competitive Landscape:

• Mars Petcare Inc
• Nestle Purina Pet Care (Nestle SA)
• Hill's Pet Nutrition
• The J.M. Smucker Company

For more information about this report visit https://www.researchandmarkets.com/r/dfz0av

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