Pet Food Manufacturing Market Characteristics
The pet food manufacturing market consists of sales of pet foods by entities (organizations, sole traders and partnerships) that produce dog and cat food and other animal food from ingredients such as grains, oilseed mill products and meat products. This market does not include agricultural animal food.
Competitive Landscape of the Pet Food Manufacturing Market
Major players in the global pet food manufacturing market include Mars Petcare Inc, Nestle Purina Petcare, Nutreco, Hill's Pet Nutrition, InVivo Animal Nutrition and Health.
Pet Food Manufacturing Market Size
The pet food manufacturing market size is expected to reach a higher value by 2022, significantly growing at a steady CAGR during the forecast period. The growth in the pet food manufacturing market is due to emerging markets growth, increase in disposable income and improved earning capacity.
However, the market for pet food manufacturing is expected to face certain restraints from several factors such as health scares, tax increases, talent crunch and changing consumer preferences.
Pet Food Manufacturing Market Segmentation
The global pet food manufacturing market is further segmented based on type and geography.
By Type - The pet food manufacturing market is segmented into dog and cat food, other pet food.
By Geography - The global pet food manufacturing is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-pacific pet food manufacturing market accounts the largest share in the global pet food manufacturing market.
Trends in the Pet Food Manufacturing Market
The increasing humanization of pets is enabling pet food manufacturers to offer premium products targeted towards pet owners. Humanization of pets implies that pet owners treat pets like members of their family, as the major trends witnessed in the global pet food manufacturing market.
Potential Opportunities in the Pet Food Manufacturing Market
With busy lifestyle, influence of social media on the market, impact of new cuisines on the market, low cost foods, the scope and potential for the global pet food manufacturing market is expected to significantly rise in the forecast period.