Rising Pet Humanization Trends Driving the Global Dog Food Market
The global dog food market reached figures worth US$ 45.2 Billion in 2015, growing at a CAGR of 3.9% during 2008-2015. Growing concerns of the health and well-being of pets by their owners and a rising demand of premium products are currently the big
The culture of pet ownership is on the rise globally with dogs representing the most preferred pets. Dog owners today want the best for their pets, so much so that this market is experiencing a trend in humanization that has evolved beyond flavors to ensure nutritional benefits, ingredient quality and manufacturing standards that are as high as human food. According to IMARC Group’s new report titled, “Dog Food Market – Industry Trends, Manufacturing Process, Plant Setup, Machinery, Raw Materials, Cost and Revenue”, the global dog food market has grown at a CAGR of 3.9% during 2008-2015, with sales value reaching US$45.2 billion in 2015. The report finds that several factors are currently driving this market. This includes rising dog ownership, growing awareness of dog owners on the nutritional requirements of their pets, rising levels of disposable income and an increasing demand for premium products.
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The report provides a detailed insight into the global dog food market. The report has segmented the market on the basis of the type of dog food available in the market. Findings from the report suggest that dry dog food currently dominates the total dog food market, followed by dog treats and wet dog food. The report has also segmented the market on the basis of key regions. Region-wise, the report states that North America represents the largest dog food market. North America was followed by Western Europe, Asia Pacific, Latin America, Eastern Europe and Middle East & Africa. The competitive landscape of the global dog food market has also been thoroughly analyzed in the report. The global dog food market is currently dominated by three manufacturers, namely Mars, Nestle and Colgate-Palmolive.
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This report provides a detailed roadmap for setting up a dog food manufacturing plant. The study covers all the essential aspects of the dog food industry and provides an in-depth analysis of the market, industry performance, processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the dog food industry in any manner.
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