Dog Food Market 2022-2028: Increasingly Emphasizing On Offering Personalized Foods For Pets As Per Preferences Of Customers
The global Dog Food Market size is expected to reach USD 78.82 Billion in 2028 and register a revenue CAGR of 4.3% over the forecast period, according to the latest report by Reports and Data. Higher adoption of pet dogs, increasing consumer spending, and rapid rise in pet humanization trend are some key factors expected to drive market revenue growth over the forecast period.
Outbreak of the COVID-19 pandemic resulted in panic buying practices among consumers for storing pet food products amid lockdowns announced by governments of various countries globally. It further generated more demand for dog food infused with Cannabidiol (CBD), owing to its various health benefits. CBD-infused food products have longer shelf-life, compared to other pet foods. Also, manufacturers are aiming to expand their production facilities to cater to rising consumer demand for high-quality pet food, which, in turn, is expected to support market growth. Currently, over 3500 cannabidiol brands are present in the U.S. food market, out of which, CBD-infused pet and human food contribute to over 30% of sales through online distribution channel.
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Increasing ownership of pet dogs, particularly in emerging economies, owing to rapid urbanization is another major factor driving demand for dog food. In addition, demand for organic and healthy food products for pet dogs to maintain overall health is growing due to rising disposable income of consumers. Also, availability of dog food with varying price ranges provides ample options for pet dog owners to purchase these food products depending on their income level. Moreover, increasing social media influence and growing trend of impulse purchases by millennials are leading to increasing pet ownership. These factors are expected to contribute to market revenue growth over the forecast period.
Some of the Leading Market Players Are Listed Below:
- Mars Inc.,
- Procter & Gamble Company,
- Nestlé Purina Pet Care,
- Del Monte Foods Inc.,
Dog Food Market Segmentation based on Product Type Outlook:
- Dry Food
- Wet Food
- Nutritious Food
Dog Food Market Segmentation based on Ingredient Type Outlook:
- Plant Derived
- Animal Derived
Dog Food Market Segmentation based on Pricing Outlook:
- Non-premium Products
- Premium Products
Dog Food Market Segmentation based on Distribution Channel Outlook:
Purchase Premium Report: https://www.reportsanddata.com/report-pricing/4716
The research report offers details about leading companies in the global Dog Food market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
For comprehensive coverage, the report discusses growth prospects, opportunities, and challenges. The market report considers various key factors across the leading regions.
Some Key Highlights From the Report:
- By product type, dry food segment accounted for the largest revenue share in 2020. Dry dog food is beneficial for improving oral health and reducing buildup of tartar on pets’ teeth. Also, dry food provides chewing and crunch, which are necessary for upholding the overall health. It does not require freezing, unlike wet food.
- By ingredient type, plant derived segment is expected to exhibit faster revenue CAGR over the forecast period. Plant derived food provides a good amount of energy to dogs due to availability of high nutritious content without any adverse impact of food based on animal meat and its derivatives. Thus, plant-based ingredients help in providing a balanced diet to maintain the overall well-being of pets. Also, these ingredients help to maintain weight of dogs, while ensuring a healthy, as well as longer life.
- Non-premium products segment is anticipated to grow steadily in the near future. Non-premium dog foods are relatively low-cost and due to this factor, such foods can be easily availed by a larger section of pet parents. However, these types of foods are required to be fed in large quantities to ensure maximum nutrition for pets for maintaining health and well-being.
Dog Food Market Segmentation based on Regions:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)
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