Global Animal Food Market: Increasing Pet Ownership in Emerging Countries Crucial for Sustained Growth, says TMR

Press Release   •   Oct 14, 2016 14:15 IST

The global animal food market is likely to be driven by the increasing pet ownership in emerging countries in the coming years, according to a new report from Transparency Market Research (TMR). The report studies the development trajectory exhibited by the global animal food market and presents an analysis of the market’s current condition. Key indicators derived from a solid analysis of these figures form the basis of reliable predictions regarding the market’s growth in the coming years. The report is titled ‘Global Animal Food Market - Industry Size, Share, Trends, Analysis, And Forecasts 2012 – 2018.’

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One of the key drivers for the global animal food market is the increasing number of pet owners in developed as well as developing economies. While owning a pet is already common in North America and Europe, leading to a firmly established presence of a strong sales network for animal food and accessories, pet ownership is an emerging phenomenon in developing countries in Asia Pacific and Latin America. This presents an immense scope for future development of the animal food market, as the purchasing power of consumers in these regions is growing steadily, leading to not only an increase in the number of pet owners, but their purchasing power in terms of premium pet food.

The rising demand for meat and meat products has also had a favorable impact on the global animal food market, as it has given a boost to animal husbandry operations across the world. Despite the rising popularity of vegetarianism, this is likely to remain a key driver for the animal food industry in the coming years.

Another key driver for the animal food market is the consistent technological advancement in the industry and the resultant improvement in the quality of the final product. This has helped the animal food industry create a favorable perception among consumers, as side effects of animal food are among the top concerns of pet owners. Technological development has also allowed the animal food industry to come up with a highly species-specific product catalog, which has had a notable effect on the demand for animal food.

By product type, the global animal food market can be segmented into dry dog food, moist dog food, dry cat food, moist cat food, treats, and others. Due to the popularity of dogs as pets, dog food is likely to remain the leading contributor to the global animal food market in the coming years.

The report studies the competitive dynamics of the global animal food industry by studying key players in the market such as Nutro Products, Inc., Chomp, Inc., BilJac Foods, Inc., LLC., Active Life Pet Products, Beowulf Natural Feeds, Inc., Chenango Valley Pet Foods, Inc., Arkat Nutrition, Artemis Company, Bench & Field Pet Foods, Breeder's Choice Pet Foods, Inc., Annamaet PetFoods, Cloud Star Corporation, Newman's Own Organic, BalanceDiet, Blue Seal Feeds, Inc., Bell Rock Growers, Inc., and Azmira Holistic Animal Care.

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