Global Pet Feed Market
Pet feed is the animal or plant source material intended to provide the balanced diet to pets. The most commonly adopted pet animals are felines, canines, and rabbits etc. Pet feed is classified into two types namely, medicated feed and non-medicated feed. Medicated feed is used in the treatment of various diseases by mixing the medicament with normal feed, while the non-medicated feed is used to feed the pet animals to make them healthy.
Increase in the adoption of pet animals such as felines and canines, the rise in the prevalence of various pet animal diseases, growing disposable income, and availability of different pet feed products expected to fuel the growth of pet feed market over the forecast period. In addition, growing expenditure for the pet animal welfare, increase in the production of pet feed with required nutritional values, and rise in the awareness about pet animal diseases are anticipated to boost the pet feed market. However, the high cost of the pet feed, lack of awareness about the medicated pet feed, product recalls, and lack of specific pet market regulations expected to hinder the Global pet feed market over the forecast period.
Global pet feed market is segmented based on the feed type, medicinal value, animal type, and distribution channel
Based on the feed type, pet animal feed market is segmented into the following
- Dry feed
- Wet feed
Based on the medicinal value, pet feed market is segmented into the following:
- Medicated feed
- Vitamins & minerals
- Non-medicated feed
- Plant source
- Animal source
Based on the animal type, Global pet feed market is segmented into the following:
Based on the distribution channel, pet feed market is segmented into the following
- Veterinary pharmacies
- Online pharmacies
Global pet feed market is in the growing stage due to rise in the production of pet feed products. Pet feed helps to make the animal health and improve the physiological function and reproduction. Players are focusing on the manufacturing of ready to use pet feed products, which can be used directly without any cooking process. Lack of fortified minerals and nutrients in the natural pet feed is a key driver for the pet feed market growth. Acquisitions and mergers, collaborations, and getting marketing approvals are some key strategies followed by the players to gain a dominant share in pet feed market. For instance, in April 2014, Mars acquired the Iams, Natura, and Eukanuba brands from Procter & Gamble for developing the pet feed products portfolio. Similarly, in April 2017, PetSmart acquired Chewy.com an E-commerce store for expanding the business segment around the globe.
Geographically, Global pet feed market is segmented into the following regions Viz. North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Increase in the adoption of pet animals in North America region (according to American Pet Products Association, approximately 155 Mn canines and felines were owned in the U.S.), a rise in animal welfare expenditure, and availability of ready to feed products in the market are anticipated to drive the North America pet feed market. Europe accounts for a major share owing to increase in the pet adoption, and rise in the prevalence of diseases. In Asia Pacific region, increase in the adoption of pet animals majorly in China, Japan, New Zealand, and Australia, increase awareness about animal care, and rise in the prevalence of infectious diseases are expected to bolster the pet feed market. However, due to lack of awareness and dearth of the availability of the products in Latin America and Middle East & Africa regions are driving the market growth moderately.
Some of the players in pet feed market are Mars Petcare Inc. (U.S.), P&G Pet Care (U.S.), Nestlé Purina PetCare Co. (U.S.), Del Monte Foods Co. (U.S.), Hill’s Pet Nutrition Inc. (U.S.), Affinity Petcare SA (Agrolimen SA) (Spain), Nippon Pet Food (Japan), Ainsworth Pet Nutrition (U.S.), and Heristo AG (Germany) to name a few.
- In January 2017, Mars, Inc. acquired VCA Inc. for the diversification of product portfolio
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