Global Pet Food Market 2015-2019 - Industry Analysis
About pet food
Pet food is developed from either plant or animal extracts and is formulated according to the nutritional needs of the type and age of the animal being fed. The key ingredients in pet food include by-products of meat, poultry, and seafood; feed grains; enzymes; amino acids; preservatives; stabilizers; and gelling agents. Pet food is available in pet stores as well as in retail outlets such as supermarkets.
Technavio's analysts forecast the global pet food market is expected to grow at CAGR of 4.72% for the period of 2014-2019.
Covered in this report
This report discusses the present scenario and future prospects for the global pet food market for the period of 2015-2019. The market size is calculated based on the revenue generated through the retail sales of pet food. Based on pet type, the market is segmented into the following:
Technavio Announces the Publication of its Research Report – Global Pet Food Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Pet Food Market: Mars, Nestle, Colgate Palmolive and Del Monto
Other Prominent Vendors in the market are: Agrolimen, Aller, Barking Heads and Meowing Heads, BHJ, Brazilian Pet Foods, CPF, Diamond Pet Foods, Inaba, Vitakraft, and Yantai China.
Commenting on the report, an analyst from Technavio’s team said: “Good packaging can be instrumental in creating brand awareness and brand loyalty. According to the American Pet Product Manufacturers Association, pet owners look for newly packaged products. Three areas of packaging that are mostly catered to by the manufacturers of pet food are packaging shape, packaging closure, and packaging convenience.”
According to the report, the nutrient content in pet foods is a primary buying criterion. As pet owners prefer high-quality pet products, manufacturers are introducing pet foods with the appropriate amount of functional ingredients, such as essential amino acids, carbohydrates, linoleic acid, and fibers. Functional pet foods strengthen pets' immune systems and encourage healthy digestive systems. Consumers develop brand loyalty to products that contain the requisite nutrients for their pets.
Further, the report states that the increase in product recalls will hinder market growth.
Mars, Nestle, Colgate Palmolive, Del Monto, Agrolimen, Aller, Barking Heads and Meowing Heads, BHJ, Brazilian Pet Foods, CPF, Diamond Pet Foods, Inaba, Vitakraft, Yantai China.
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