LONDON–(BUSINESS WIRE)–Aug 20, 2020–
Technavio has been monitoring the pet food market and it is poised to grow by USD 36.11 bn during 2020-2024, progressing at a CAGR of about 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Pet Food Market 2020-2024 (Graphic: Business Wire).
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Frequently Asked Questions:
- What are the major trends in the market?
The increasing demand for pet food with savory ingredients and smaller portions is a major trend driving the market growth.
- At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 7.24% and the incremental growth of the market is anticipated to be USD 36.11 bn.
- Who are the top players in the market?
Blue Buffalo Co. Ltd., Colgate-Palmolive Co., Mars Inc. Nestlé SA, Schell & Kampeter Inc., Spectrum Brands Holding Inc., Thai Union Group Plc, The J.M. Smucker Co., Unicharm Corp., and WellPet LLC, are some of the major market participants
- What is the key market driver?
The growing demand for organic pet food is the major factor driving the growth of the market
- How big is the North American market?
The North America will contribute 33% of the market share
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Blue Buffalo Co. Ltd., Colgate-Palmolive Co., Mars Inc. Nestlé SA, Schell & Kampeter Inc., Spectrum Brands Holding Inc., Thai Union Group Plc, The J.M. Smucker Co., Unicharm Corp., and WellPet LLC are some of the major market participants. The growing demand for organic pet food will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Pet Food Market 2020-2024: Segmentation
Pet Food Market is segmented as below:
- Dry Food
- Snacks And Treats
- Wet Food
- Distribution channel
- Pet-specialty Stores And Vet Clinics
- Dog Food
- Cat Food
- Other Small Pet Food
- Geographic Landscape
- North America
- South America
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Pet Food Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The pet food market report covers the following areas:
- Pet Food Market Size
- Pet Food Market Trends
- Pet Food Market Industry Analysis
This study identifies increasing demand for pet food with savory ingredients and smaller portions as one of the prime reasons driving the pet food market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Pet Food Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist pet food market growth during the next five years
- Estimation of the pet food market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the pet food market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of pet food market, vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Dry food – Market size and forecast 2019-2024
- Snacks and treats – Market size and forecast 2019-2024
- Wet food – Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Distribution channel
- Market segments
- Comparison by Distribution channel placement
- Supermarkets – Market size and forecast 2019-2024
- Pet-specialty stores and vet clinics – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by Distribution channel
Market Segmentation by Type
- Market segments
- Comparison by Type placement
- Dog food – Market size and forecast 2019-2024
- Cat food – Market size and forecast 2019-2024
- Other small pet food – Market size and forecast 2019-2024
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Blue Buffalo Co. Ltd.
- Colgate-Palmolive Co.
- Mars Inc.
- Nestlé SA
- Schell & Kampeter Inc.
- Spectrum Brands Holding Inc.
- Thai Union Group Plc
- The J.M. Smucker Co.
- Unicharm Corp.
- WellPet LLC
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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INDUSTRY KEYWORD: PETS CONSUMER
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 08/20/2020 10:45 AM/DISC: 08/20/2020 10:45 AM
Copyright Business Wire 2020.