The latest report by IMARC Group, titled “Dog Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global dog food market has grown at a CAGR of 3% during 2009-2016, reaching a value of around US$ 101 Billion in 2016. Dog food is mostly made with animal grade ingredients which are fit for the consumption of dogs such as oatmeal, pea protein, potatoes, chicken and liver chunks. Nowadays, the commercial dog food companies are also introducing new product varieties in order to expand their consumer-base. Some of these include meat & bone meal, offal, animal digest, sugar-based sweeteners, animal by-product, etc. These offer a healthy and fulfilling diet to the dogs along with assisting digestion, improving immunity and strengthening muscles, teeth and bones. According to the report, the market is further expected to reach a value of more than US$ 120 Billion by 2022, growing at a CAGR of 4% of 2016-2022.
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The growth in the dog food industry is mainly promoted by changing lifestyles in the developing countries, leading to an increase in pet-adoption rates, particularly dogs. These animals are nurtured as the members of the family which call for providing required nourishment to them. Apart from this, obesity and pet allergies are also major concerns among dog-owners and the companies alike. For this reason, new and innovative dog food products are introduced considering the food regulatory guidelines and high manufacturing standards. Some of the other factors influencing the growth of the global dog food market include increasing aging population, rising disposable incomes and improving standards of living.
The report has segmented the global dog food market on the basis of the type of dog food. Based on the findings of the report, the dry dog food sector holds the largest share in the market. Dry dog food sector is followed by dog treats and wet dog food. The report also provides a segmentation of the market on a regional basis with some of the major regions being North America, Asia-Pacific, Western Europe, Eastern Europe, Latin America, and Middle East and Africa. Amongst these, North America represents the largest market for dog food, accounting for the majority of the market shares. Apart from this, an evaluation of the competitive landscape of the market is also given in the report. Some of the key players operating in the market are Nestlé, Mars and Colgate-Palmolive.
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This report provides a detailed roadmap for setting up a dog food manufacturing plant. The study covers all the essential aspects of the dog food industry and provides an in-depth analysis of the market, industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. It also offers SWOT, Value Chain and Porter’s Five Forces analysis and regional segmentation followed by an analysis of the competitive landscape. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the dog food industry in any manner.
Browse more reports related to food & beverages industry: http://www.imarcgroup.com/categories/food-beverages-market-reports
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