The increasing humanization of pets is enabling pet food manufacturers to offer premium products targeted towards pet owners. Humanization of pets implies that pet owners treat pets like members of their family, and thus they are increasingly buying premium and super-premium foods and sophisticated snacks and treats for pets. Premium pet foods are natural, organic, have higher quality and are safer than regular pet foods. Mars’ Sheba Perfect Portions Pate, Nestle Merrick’s Purrfect Bistro Gourmet Shreds and Purina Fancy Feast Broths are common super-premium pet food products.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL ANIMAL AND PET FOOD MARKET AT $457 BILLION IN 2017
Asia Pacific was the largest geographic region in the market, accounting for more than one-third of the global market share.
The chart below shows the year-on-year growth of the global animal and pet food market during 2017 – 2021
According to The Business Research Company’s Consultant, Nitin Gianchandani, increasing online sales is a reason for accelerated growth in pet food market. The sales in super stores is reducing continuously because internet giants like Amazon.com and Chewy.com are stealing their business. The Millennials could be seen as emerging customers for this market.
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Mars Petcare Inc. was the largest competitor in the market, generating revenues of $35 billion for the financial year 2017. The Mars PetCare Inc.’s growth strategy aims at shifting their headquarters from Los Angeles to Chicago in October 2017 for better opportunities. The company also aims to invest in digital marketing to improve evidence-based marketing.
The animal and pet food industry comprises establishments primarily engaged in manufacturing food and feed for animals and pets from ingredients, such as grains, oilseed mill products, and meat products.
Animal And Pet Food Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $6000 for an individual user. To use across your office, the price is $9000 and $12000 if you wish to use across a multinational company.
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