Pet Food Market in US 2019-2023
|発行||TechNavio (Infiniti Research Ltd.)||商品コード||325520|
|出版日||ページ情報||英文 126 Pages
Pet foods are commercial feed and supplements prepared for consumption by pets. Technavio's pet foods market analysis considers sales from segments including dry pet food, wet pet food, and pet snacks and treats. In 2018, the dry pet foods segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as easy transportation and long shelf life of dry pet foods will play a significant role in the dry pet foods segment to maintain its market position. Also, our global pet foods market report looks at factors such as the rising awareness of pet nutrition, rise in pet ownership, and new product launches. However, stringent regulation, growing instances of pet food recalls, and health implications related to pet allergies may hamper the growth of the pet foods industry over the forecast period.
Homemade pet foods are not wholesome and nutritionally balanced. This is driving the need for functional pet food products over homemade formulations. The rising awareness and significance of functional pet food products are driving the popularity of pet foods and will lead to the expansion of the global pet foods market at a CAGR of over 5% during the forecast period.
Premium pet food is formulated from organic and single protein-source ingredients and has several health benefits. In addition, the demand for customized pet food products is increasing due to the humanization of pets. These factors are expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global pet foods market during the forecast period 2019-2023, view our report.
With the presence of several major players, the global pet foods market is highly fragmented. Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading pet foods manufacturers, that include Colgate-Palmolive Co., General Mills Inc., Mars Inc., Nestle SA, and The J. M. Smucker Co.
Also, the pet foods market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.