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(MoneyNewsWire.Net, March 16, 2018 ) Market Data Forecast has announced the addition of the “Pet Food Market by Ingredient (Animal Derivatives, Fish derivatives, Fruits & Vegetables, Cereals & Cereal by-products, Fats & Oils, Vitamins & Minerals, Additives), by Animal Type (Dog, Cat, Bird, Other animals), and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)" report to their offering. The Global Pet Food Market was priced USD 75.50 Billion in 2016 and calculable to be growing at a CAGR of 4.8%, to achieve USD 95.45 Billion by 2021, within the mentioned forecast period from 2016 to 2021. Generally, they are available in pet stores and supermarkets. Pet food is essentially various types of feed prepared for the consumption of dogs and cats, usually as supplements or food intended as sole ration. Pet food consists of product such as pet treats, biscuits, training foods and a lot of ancient pet foods.
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The global pet food market is principally driven by factors like increase in product availability, rising trend of nuclear families, fast improvement of pets with these products, and enhanced awareness regarding pet health. Additionally, increase in ownership of pets in developing nations and rise in e-commerce sales are boosting the market.
The Major restraints of the market are the increase in essential raw materials like corn, soybeans, and wheat that successively led to a rise in the value of most protein sources, Issues regarding the utilization of pesticides and artificial flavors within the pet food.
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The segmentation of Global Pet food market is done on the basis of ingredients and, animal type. On the idea of ingredients, the Pet food market is divided into Cereals, Animal Derivatives, Vitamins, Fish derivatives, Fats, Fruits, and Cereal by-products, Oils, Vegetables & Minerals, and Additives. On the basis of Animal type, the market is categorized as Bird, Dog, Cat, and Others animals. In 2016, the Dog food segment accounted for the most important share within the international market, as a result of rising trend of nuclear families and growing inclination of customers towards dogs for society and security.
Regional Overview
On the principle of geographical analysis, the worldwide market is classified into varied regions namely Middle East, North America, Europe, Latin America, and Asia-Pacific, Africa. The global pet food market is leading by the North American Region that has the most important market share. Asia-Pacific and South America are having the highest growth potential within the market. The North American market is being chiefly driven by the U.S.
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The global pet food market is focused on 10 major players in accounting for over 500th of the market share and remaining market share distributed among the big variety of little manufactures. Some of the main firms dominating the market are purely for Pets, Nippon Formula Feed Manufacturing Company LTD, Spectrum Brands, INC, Natural Dog Food Company, Unicharm Corporation, Nutrena, Incorporated (PCI), Hills Pet Nutrition, Marukan CO. LTD, Nestle Purina Pet Care, Halo, Nisshin Saifun Group INC, Mars Inc., Pet Center, Del Monte Foods.
Scope of the report
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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