The global pet food packaging market is expected to post a cagr of around 7% during 2018-2022, according to the latest research report by technavio. The entry of big business into new areas of the pet products and services market heralds further mainstreaming of previously niche areas, such as grooming and day care table 11 global pet food sales 2009/2014/2019 table 12 premium dog and cat food sales by region 2009/2014/2019.
The global pet food market size was valued at usd 7653 billion in 2016 and is expected to register a cagr of 43% in terms of revenue over the forecast period growing trend of pet adoption as a result of increasing number of nuclear families in emerging economies is expected to be a major growth driver over the coming years.
The global pet food market size is projected to reach usd 9881 billion by 2022, according to a new report by grand view research, inc, exhibiting a 43% cagr during the forecast period rising trend of pet adoption is expected to be a major driving factor over the coming years.
The global pet care market is expected to post dynamic growth compared to most other fmcg industries in 2018, helped by a rise in its customer base throughout the world pets typically live longer and eat better, with pet owners increasingly seeking. The global pet market is booming and some countries are seeing rapid growth discover where the world pet industry is seeing the biggest increases nestle in summer 2011 announced that it was investing $48 million into its pet food factory in the town of vorsino the goal was to double production of the company’s wet pet food within the.
The major restraint to this market is the increasing rate of obesity in pets, which is a big concern for pet owners the global pet food market is highly concentrated with top ten companies including mars inc, nestle sa, colgate-palmolive co, and del monte foods co etc, accounting for more than 50% of the market share. Global pet foods is the largest canadian-owned chain of specialty pet food and supply stores that offers a wide variety of unique and wholesome pet food and products. Asainorth america pet food market dominates the global pet food market in terms of revenue with a share of xxx% and is expected to maintain its dominance over the forecast period increasing pet ownership coupled with presence of major manufacturers are major factor driving growth of the north america pet food market.
The global pet food market is anticipated to register a significant cagr of 503%, and reach a market value of over usd 1032 billion by 2023 the increasing trend of pet humanization globally and growing concern of the pet owners towards pets, especially in developed countries, are the major drivers for the market.
The global pet food market 2018-2022 report has been added to technavio’s food and beverage research library.