Portland,OR, June 30, 2023 (GLOBE NEWSWIRE) -- According to a report published by Allied Market Research, the global Pet Food Market generated $87,268.2 million in 2020 and is estimated to reach $133,430.9 million by 2030, witnessing a CAGR of 4.6% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report coverage | Details |
| Forecast Period | 2021-2030 |
| Base Year | 2020 |
| Market Size in 2020 | $87,268.2 Million |
| Market Size in 2030 | $133,430.9 Million |
| CAGR | 4.6% |
| No. of Pages in Report | 279 |
| Segments covered | Pet type, Food type, Sales channel, and Region |
| Drivers | A rise in trend of nuclear families |
| Rapid humanization of pets | |
| Surge in awareness about pet health | |
| Opportunities | Rise in e-commerce sales |
| Increase in pet ownership in developing nations | |
| Restraints | Increase in pet obesity |
| Pet food recalls |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had a mixed impact on the global pet food market growth.
- The disruptions in the supply chain affected the growth of the global pet food market, while a surge in the adoption of pets had a positive impact on the global market for pet food.
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The report offers a detailed segmentation of the global pet food market based on pet type, food type, sales channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants determine the sub-segments to be tapped on to achieve growth in the coming years.
Based on pet type, the dogs segment held the highest share in 2020, accounting for more than two-fifths of the global pet food market and is estimated to rule the roost throughout the forecast timeframe. The same segment would cite the fastest CAGR of 4.7% from 2021 to 2030. The report also analyzes the cats and others segments.
Based on food type, the dry food segment accounted for the highest share in 2020, contributing to around one-third of the global pet food market, and is expected to retain its dominance from 2021 to 2030. The same segment is expected to register the fastest CAGR of 5.3% throughout the forecast timeframe. The report also discusses wet food, treats and snacks, and others segments.
By sales channel, the specialized pet shops segment held the highest share in 2020, contributing to more than one-third of the global pet food market, and is estimated to maintain its leadership status from 2021 to 2030. The same segment would showcase the highest CAGR of 5.1% from 2021 to 2030. The report also analyzes the online sales channel and others segments.
By region, the market in North America was the largest, contributing to more than one-third of the global pet food market, and is estimated to rule the roost throughout the forecast time period. Moreover, the market across Asia-Pacific is estimated to showcase a noteworthy CAGR of 5.1% from 2021 to 2030. The report also analyzes the markets across Europe and the LAMEA regions.
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Leading market players in the global pet food market analyzed in the research include Mars Petcare Inc., The Hartz Mountain Corporation, Big Heart Pet Brands, Nestle Purina PetCare, Diamond Pet Foods, Hill’s Pet Nutrition, Deuerer, WellPet, Blue Buffalo, and Heristo AG.
The report provides a detailed analysis of these key players in the global pet food market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
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• Vegan Pet Food Market is estimated to reach $16.3 billion by 2030
• Pet Furniture Market is projected to reach $5,139.4 million by 2027
• Pet Travel Services Market forecast to reach $1.3 billion by 2031
• Organic Pet Food Market is projected to reach $29.2 billion by 2031
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
