What Is The Size Of Global Dog Food Industry?
Global Dog Food market is growing at a double digit CAGR in 2017-2022 and is expected to reach USD ~ Bn by 2028. The Global Dog Food Market is largely driven by rising disposable income in developing economies, increasing availability of organic products in a variety of flavors and the inclusion of essential ingredients such as probiotics and antioxidants are factors that are likely to induce a positive impact on the global market growth.
Global Dog Food Market is at a growing stage. It is a fragmented market with the presence of many dog food companies. The market has seen emergence of abundant players in the past 5 years and the industry will further boost owing to the needs and wants of consumers for a more customized pet food platform.
Few major global dog food players are Colgate Palmolive (Hill’s Pet Nutrition), General Mills, Mars Incorporated (Virginia, U.S.), Nestle S.A. (Vevey, Switzerland), The J.M. Smucker Company (Ohio, U.S.), Diamond Pet Foods etc. The highest growth is expected from the majorly North American region. The high growth rate can be attributed to many middle-income groups in developing countries like India, a preferred market for companies. An increase in awareness and lifestyle changes is the fundamental driver of Pet market growth. Customers are more likely to remain loyal when their needs are customized.
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Global Dog Food Market By Food Type
The Global Dog food market is segmented by food Type. Dry food was the most dominant in 2022.
Global Dog Food Market By Sales Channel
The Global Dog food market is segmented by Sales channel. Supermarkets & Hypermarkets was the most preferred form of channel in 2022 in Global dog food market.
Global Dog Food Market By Region
The Global Dog food market is segmented by Region into North America, Europe, Asia Pacific, Middle East & Africa and South America. Asia Pacific held the major market share in Global Dog food market in 2022.
Competition Scenario In Global Dog Food Market
In Global Dog Food Market, there are several players operating in the market, and top players account for a substantial share in the market in terms of revenue. Global Dog food market is highly fragmented without dominant players. Few players are Mars Inc., Nestle Purina, Colgate Palmolive (Hill’s Pet Nutrition), General Mills, The JM Smucker Company which have more customers than others. The global dog food market is highly competitive, with multinational companies, regional manufacturers, and niche players vying for market share. Innovation, premium offerings, and targeted marketing campaigns are key strategies to stay ahead. E-commerce platforms also play a significant role in the competition, allowing brands to reach a global audience. As pet ownership rises and consumer preferences evolve, the competition is expected to remain fierce, driving further market expansion.
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What is the Expected Future Outlook for the Overall Global Dog food Market?
The Global Dog food market was valued at USD ~ billion in 2022 and is anticipated to exceed USD ~ billion 2028, witnessing a robust CAGR during the forecast period 2022-2028. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Dog food market is driven by demand for rising disposable income in developing economies, increasing availability of organic products in a variety of flavors and the inclusion of essential ingredients such as probiotics and antioxidants are factors that are likely to induce a positive impact on the global market growth. The government has set forth ambitious strategies to leverage digital technologies extensively in enhancing its services, processes, and decision-making capabilities, as well as facilitating efficient data sharing with the public. Similarly, in response to the increasing demand for sustainable and eco-friendly pet food packaging solutions, dog food companies have been introducing novel and innovative products into the market.
The concept of sustainable packaging is proving to be a highly beneficial investment and a responsible choice for the environment when it comes to dog food. With growing concerns about the safe handling and recycling of pet food packaging materials, there is a push for new policies and legislation that require businesses to take responsibility for recovering and recycling their dog food packaging. AI and cognitive learning technologies have started to play a decisive role and are poised to be game-changers in several avenues.
During the forecast period of 2022-2027, it is anticipated that the global dog food market will grow at a massive CAGR by 2027. Growing concerns surrounding pet obesity and excessive sugar intake are prompting various governments to adopt plain packaging strategies for dog food products. By implementing plain packaging regulations, authorities aim to raise awareness about healthy pet nutrition and encourage responsible choices among dog owners.
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