Published on : Jun 07, 2016
Albany, New York, June 6, 2016: In a recent market intelligence report added to the rapidly expanding portfolio of Market Research Hub, the global market for pet food has been examined. The 158-page, professional and in-depth market research report covers the crucial segments of the market and examines the market in key regions such as Asia, Europe, and North America. The report is titled “Global Pet Food Industry 2016, Trends and Forecast Report.”
The global pet food market is expanding at a steady pace and is one of the most rapidly expanding segments of the global food industry. Owing to factors such as rising disposable incomes, shrinking sizes of families, and reducing birth rates, the rate of adoption of pets has seen a significant rise in major parts of the world. Apart from developed regions such as Europe and North America, which have been the leading adopters of pets since historical times, the rate of pet adoption has also seen a positive shift in dynamics in developing regions such as Asia Pacific in the past few years.
As pet owners in developing countries can increasingly afford ready-for-consumption or easy-to-make pet food varieties of pet foods for their pets, owing primarily to the rising disposable incomes, the demand for pet foods has increased in these regions in the past few years. Advancements in packaging techniques are also boosting the consumption of pet food in the global market. In developed regions such as Europe and North America, the availability of innovative, premium, and specialty pet food varieties is boosting the consumption of a pet foods.
A major trend in the global pet food market is the rising demand for nutritive options and the increased preference for dry pet foods, especially in developing regions such as Asia Pacific.
Presently, North America leads the global pet food market owing to the large number of pets in the region and the high disposable incomes of the population. Europe stands second among all regional markets and is expected to maintain its position in the coming years as well.
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However, the global pet food market is expected to earn a major share of its overall revenues from emerging economies such as China and India in the next few years, owing to the increasing importance of pets among the increasing number of nuclear families in these countries.
The report also gives a detailed overview of the competitive landscape of the global pet food market with the help of detailed business profiles of some of the key vendors in the market. The report also furnishes details such as the detailed product portfolio complete with pictures and specifications of major products, application of products, details regarding production capacity, actual production, cost structure, and contact information of these vendors.
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