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Pet Food Market Poised for Steady Growth in the Future

Rising trend of pet adoption is expected to be a major driving factor over the coming years. The Global Pet Food Market size is projected to reach USD 98.81 billion by 2022, according to a new report by Grand View Research, Inc., exhibiting a 4.3% CAGR during the forecast period.


Increasing number of nuclear families in emerging economies of Asia Pacific, particularly India, China, Vietnam, and Indonesia, has resulted in the growing trend of pet adoption and this is expected to drive market growth over the forecast period. Rising need for nutritious, healthy, and organic pet food on account of increasing awareness regarding animal health is expected to augment market demand.

Increasing life expectancy across the globe has led to older generation adopting pets to guide them through routine chores; this is expected to fuel pet food demand over the forecast period. Innovation in specialty, premium, and gourmet pet food products and packaging techniques is expected to propel growth in larger markets of U.S., Europe, and Japan.

To Know More About Pet Food Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/pet-food-industry 

Natural and organic products were once a niche segment in the industry; however, major food manufacturers today, such as Nestle’s Purina, Mars’s Pedigree, and Del Monte Foods, market natural products sold at major retailers. This is likely to have a positive impact on the market over the forecast period.

Top Players of Pet Food Market:

Major key players include Big Heart Pet Brands, Unicharm Corporation, Mars Incorporated, Colgate-Palmolive Co., Nestle SA, Lupus Alimentos Ltda, and Total Alimentos SA. These players are actively involved in new product development to provide high nutritional value to pets.

Market Segmentation of Pet Food Market:

The Global Pet Food Market segmented on the basis of Product, Application, and Region.

By Product:

Dry Food
Wet/Canned Food
Nutritious Food
Snacks/treats

By Application:

Dogs
Cats

By Region:

North America
Europe
Asia Pacific
Rest of The World

Inquire about Pet Food Market with Our Experts @ https://www.grandviewresearch.com/inquiry/50/ibb 
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