Pet Food Market Analysis, Potential Growth, and Challenges till 2022 “The Pet Food Market is anticipated to grow at a significant CAGR of 4.3% in the upcoming period as the scope, product types, and its applications are increasing across the globe."
Global Pet Food Market developed and published by Market Research Place provides a brief and detailed knowledge about key players, market state and circumstances that are covered deeply in this report. The report will offer significant assessments for the period between 2012 and 2022. The business chain supporting the Pet Food market is analyzed in detail covering accurate information about aspects such as the industrial chain, proficiency in utilization of the available capacity of manufacture, and industry strategies that affect the market. Global Pet Food Market is anticipated to reach USD 98.81 billion by 2022. The market is anticipated to grow at a healthy rate in the years to come. The factors that propel the growth of the market include rapid urbanization & industrialization, increasing demand, increasing trend of nuclear families, improved consciousness about pet health, and fast humanization of pets, product development & technological innovations. In addition, factors such as changing standard of living, rise in disposable income, increase in number of pet owners, and growing pet humanization significantly fuel the market growth. On the other hand, there are factors that may hamper the growth of the market such as growing obesity in pets and increasing pet allergies. The Pet Food Market is anticipated to grow at a significant CAGR of 4.3% in the upcoming period as the scope, product types, and its applications are increasing across the globe. The market may be explored by food product, applications, sale channel, and geography. Pet F ood Market may be explored by food product as Wet/Canned Food, Dry Food, Snacks/treats, Nutritious Food, and Others. The “Dry products” segment dominated the Pet Food Market in 2014 and anticipated to maintain its dominance by 2022. Dry food products are mostly targeted for young animals due to their high nutritive value. These products are accessible in an extensive price range, standard, standard premium, super premium, and economy. Important factors driving demand for dry products comprise lower generation of waste, longer storage, and handling convenience.
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