Dog Food And Snacks Market is set to grow from its current market value ofmore than USD 55.5 billion to over USD 75 billion by 2025; according to a newresearch report by Global Market Insights.
Increasing spending power along with growing urbanization have led theincrease of nuclear families to move in flats, apartments, societies, etc.seeking better quality of life. Canines are being adopted by these nuclearfamilies for many reasons such as safety, companionship, and as service dogsfor elderly people. Surge in canine ownership for various purposes along withrising health concern may encourage the product usage, swelling the dog food &snack market by 2025. Likewise, rising adoption of canines to overcome autismor ADHD in teens, warding off depression and reduced risk for heart diseasewould also contribute towards the industry growth. Additionally, service dogsrequire a balanced form of nutritious diet so as to manage their day-to-dayactivities. The above-mentioned trends will drive the dog food and snacksmarket by 2025.
Increasing concern of severe diseases that human can contract from caninessuch as rabies, dander, etc. limit the industry growth. Obesity in canines isanother major issue among pet owners. Increasing consumption of nutritiousdiet and lack of exercises can lead to health issues for the canines. This mayhinder the product market size in the projected timespan as pet owners willopt for homemade meals instead of the ones that are commercially available.
On the basis of type, the market can be classified into dog food and treat &mixtures. Dog food captures more than half of the overall market. It has highmoisture content that includes large portion per meal without adding extracalories to diet. The segment is further categorized into dry and wet. Wetfood is mainly preferred when the canine is ill or is lacking in appetite. Itis a good option for canines with poorly aligned jaws, missing teeth orsmaller mouths.
In terms of revenue, among the different distribution channels, specializedpet food shops will gain by a substantial CAGR rate exceeding 4.5% during theexpected timeframe. They offer a broad range of products with vitalspecifications to select from. Rising product demand and increasingpenetration of the e-commerce sector will boost online sellers distributionchannel growth by 2025.
Dog food and snack registers a CAGR over 4% by 2025. This is due to itspopular use in domestic and professional practice. Moreover, dogs are the mostpreferred pets over other domestic animals, due to their behavior, resiliency,and their inclination to provide the owner’s family members with love andloyalty, that will drive the dog food and snack market.
Dog food by type is further classified into dry food and wet food. Dry foodcaptures the maximum share of over 60% in 2018. It has low moisture contentand includes extruded foods, flakes, etc. Whereas, wet food has high moisturecontent and are usually sealed under high pressure, these consist of foiltrays, cans and pouches where the contents include chunks in jelly, chunks ingravy and meatloaf formats.
Dog food and snack market by distribution channels are likely to grow with asignificant rate of CAGR over 4.5% by 2025 for online sellers. It is eminentas they offer wide variety of dog food and snack products with requiredspecifications to choose from. Moreover, with increasing demand for theproduct and convenient use of e-commerce is likely to upsurge the dog food andsnack market in the coming years.
Asia Pacific dog food & snack market generated a revenue of over USD 10billion in 2018 and will be the fastest rising regional market for the productin future. This is mainly due to people in Asia-pacific region adoptingcanines for social comfort, security and as a companion. This in turn willboost the regional dog food and snack market in the near future.
Dog food and snack industry share is extremely competitive, with numerousplayers. The main players include Colgate-Palmolive, Mars Petcare., Deuerer,Nestle, Heristo, JM Smucker Co., United Pet Group, Nippon, and other key dogfood manufacturers.
Source:- https://www.gminsights.com/industry-analysis/dog-food-and-snacks-market
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