The global animal food market is anticipated to experience a steady growth during the forecast period. The rising trend of animal husbandry and pet care is anticipated to create better opportunity for the animal food suppliers in coming years. The market is characterized with the presence of high level of competition among different manufacturers. The animal food market can be segmented on the basis of pet type, food type and geography for providing detailed analysis of the market. Based on food type, the market can be classified into wet/canned food, nutritious, dry food, snacks/ treats and others. Semi dry food and frozen food are included within the others segment. By pet type, the market can be broadly categorized into dog food, cat food and others. Moreover, the report also highlights the market trend of all the above mentioned segments across different regions including North America, Asia-Pacific, Europe, Middle-East and Africa (MEA) and Latin America.
Increasing awareness of animal owners towards their animal’s health coupled with rising disposable income is the primary factor predicted to increase the demand of animal food during the forecast period, thereby creating a better opportunity for various branded and packaged food manufacturers. Moreover, the increasing trend of nuclear family across the globe is also predicted to indirectly affect the demand of animal food positively. Rising trend of nuclear family increases the demand for animals for companion purpose. This, in turn, is anticipated to boost the demand for animal food across various regions.
However, allergies associated with hair of animals are a major factor predicted to deter the demand of animals. This in turn, is epected to affect the market of animal food negatively. In addition, different government regulations across the globe act as restraining factors for the growth of animal food market. Moreover, the rising cost of feeding animals along with various social and cultural regulations also limit the growth of animal food market across various regions, especially in Middle-East.
The global animal food market is majorly driven by dry food segment. Low cost and ease of handling is the primary factor responsible for the growing demand of dry food in the coming years. Moreover, longer shelf life of dry food is also expected to boost the demand for dry food at an exponential rate. However, wet food segment is anticipated to experience a stable growth during the forecast period as it is a very important source of nutrition and maintains hydration in pets that are reluctant to drink water or have small mouth, missing teeth or poorly aligned jaws.
However, the nutritious food segment is predicted to experience the fastest growth during the forecast period. Increasing number of pet diseases such as canine parvovirus infection and Lyme disease among others is anticipated to accelerate the demand for nutritious food in the coming years. In addition, rising consciousness of the animal owners towards their animal’s proper diet is also expected to trigger the demand for nutritious food across various regions.
By pet type, dog food segment dominates the animal food market and is anticipated to maintain its dominance throughout the forecast period. Demand for dogs as a pet is increasing at an alarming rate for security and companionship reasons across the globe. This, in turn, is predicted to create a better opportunity for various dog food manufacturers in the coming years. Geographically, Asia-Pacific is anticipated to emerge as the most promising animal food market during the forecast period. The chief market players operating in the animal food market include Chomp, Inc., BilJac Foods, Inc., Bell Rock Growers, Inc. and Azmira Holistic Animal Care among others.