Global pet food market is expected to continue witnessing growth over the next five years and is projected to reach $ 98 billion by 2024

New York, Oct. 08, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Pet Food Market, By Pet Type, By Point of Sale, By Region, Competition, Forecast & Opportunities, 2024" - https://www.reportlinker.com/p05820736/?utm_source=GNW

Global pet food market is expected to continue witnessing growth over the next five years and is projected to reach $ 98 billion by 2024 owing to the increasing number of pet owners across the globe.Increasing pet ownership among households backed by rising purchasing power are the major drivers for pet food, globally.

Pet population is augmenting across the globe, whereas the death rate of pets is declining on account of robust development in medical science along with growing focus towards the welfare of pets. Future predictions show that the overall pet population will soar marginally over the next five years, indicating a longer term stabilization in pet population.
North America is the largest market for pet food followed by Western Europe, Asia-Pacific, Latin America, Eastern Europe, Middle East and Africa. Pet population in these regions is accelerating at a rapid pace, which is expected to fuel demand for pet food in the coming years.
On the other hand, emerging economies such as China, India, Indonesia, Brazil and Russia, etc., are anticipated to witness growth in pet food demand during the forecast period. The key reason likely to generate high demand for pet food market is surging number of nuclear families who are the major buyers of pets due to security reasons and need for companion.

Years considered for this report:

Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024

Objective of the Study:

• To analyze and forecast the market size of global pet food market.
• To classify and forecast global pet food market based on pet type, point of sale and regional distribution.
• To identify drivers and challenges for global pet food market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc., in global pet food market
• To conduct pricing analysis for global pet food market.
• To identify and analyze the profile of leading players involved in global pet food market
Some of the leading players in global pet food market are Mars Inc, Nestlé SA, Colgate-Palmolive Co, JM Smucker Co, The, Spectrum Brands, Sanofi, Bayer AG, Vitakraft-Werke Wührmann & Sohn GmbH & Co KG among others.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.

Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.

Through this technique, the analyst could include the players which could not be identified due to the limitations of secondary research. The analyst examined the service offerings, point of sale and presence of all major manufacturers across the globe.
The analyst calculated the market size of global pet food market using a bottom-up approach, wherein data for various application across various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these pet types and point of sale for getting an appropriate, overall market size.

Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.

Key Target Audience:

• Pet food manufacturers, suppliers, distributors and stakeholders
• Potential Investors
• Organizations, forums and alliances related to pet food market
• Research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc. besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global pet food market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Pet Type
o Dog
o Cat
o Others
• By Point of Sale
o Store-based Retail
o Non-Store-based Retail
• Market, By Region:
o Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
o Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
o North America
- United States
- Mexico
- Canada
o South America
- Brazil
- Argentina
- Colombia
o Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global pet food market.
Available Customizations
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
Read the full report: https://www.reportlinker.com/p05820736/?utm_source=GNW

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