According to a recent Future Market Insights (FMI) report, the demand for dog food will surpass US$ 44.83 Bn in 2021. The market is expected to rise at a CAGR of 6.2% between 2021 and 2031.
The increasing number of dog owners is one of the key drivers of the dog food market. Rising pet ownership also is a driver of nondiscretionary and discretionary products demand including treats, toys, and various dog food products.
Some of the dog food producers are adopting aggressive marketing strategies to gain competitive edge. As a result there is increasing focus on improving the appearance of products, besides the overall quality and flavor. As a result, businesses are increasing their investments in new packaging choices.
Several companies are using recyclable boxes for dog food packaging. This is done to enhance the shelf life of dog food items and make them more appealing. As per FMI, improving visibility in shelves across hypermarkets/supermarkets, and convenience stores will give tailwinds to sales in the market.
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Key Takeaways from Dog Food Market Study:
- The U. S. is estimated to account for 84.4% share in the North America market in 2021 and it is estimated to grow with a CAGR of 4.6% over the assessment period.
- In Latin America, Brazil has emerged as a leading market with a 29.1% market share in 2021.
- The UK with 20.4% share and Germany with 19.5% will retain dominance in the Europe market in 2021.
- According to FMI’s analysis, China is accounted for more than 40% of dog food sales in East Asia.
- India will dominate the South Asia dog food market with more than 35.0% share in year 2021.
“Growing awareness among the dog owners about the proper diet for their dog and consequent focus on research initiatives by the dog food manufacturers will result in a slew of product launches. This is expected to spur growth in the market in the coming years”, said a lead analyst at FMI
Who is Winning?
Dog owners around the world are getting more concerned about their animals’ health. They wish to provide their pets with good-quality nutritional supplements in order to help them grow and develop properly.
Because global demand for pet supplements is increasing at a rapid pace, leading manufacturers are focusing on acquisitions to expand their product portfolio, regional footprint, and distribution network.
Some of the leading companies offering dog food are Evanger’s Dog & Dog Food Company, Inc., Nestlà Purina Pet Car, P&G Pet Care, Hill’s Pet Nutrition, Del Monte Pet Products, Affinity Petcare SA, Nutro Products Inc., Unicharm PetCare Corp., Total Alimentos SA, Nutriara Alimentos Ltda., The J.M. Smucker Company, Dave’s Pet Food, Fromm Family Foods LLC, Boulder Dog Food Company, Real Pet Food Company Pty Ltd, Burgess Group PLC, Freshpet, Party Animal, Inc., Rollover Pet Food Ltd. And others.
Get Valuable Insights into Dog Food Market
Future Market Insights, in its new offering, provides an unbiased analysis of the dog food market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031.
The study divulges compelling insights on the demand for dog food by nature (organic, monoprotein, conventional), by source (animal-derived, plant-derived, insect-derived), by product type (kibble/dry, treats and chews, dehydrated food, freeze-dried food, freeze-dried raw, wet food, frozen, raw food, powder), pet type (puppy, adult, senior), distribution channel (store-based retailing, online retailers), by packaging type (pouches, bags, folding cartons, tubs & cups, cans, bottles & jars) across seven major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and MEA).
Key Points Covered in Dog Food Market Study
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Dog Food Market and How to Navigate
- Recommendation on Key Winning Strategies
For Complete TOC @ https://www.futuremarketinsights.com/reports/dog-food-market/table-of-content
Key Questions Answered
- What is the demand outlook for dog food market?
The dog food market will register growth at 6.2% CAGR between 2021 and 2031.
- What is the current dog food market size?
The dog food market is expected to total US$ 44.83 Bn by the end of 2021. In terms of volume, it is expected to surpass 10,413,401 MT
- At what rate will dog food sales rise post pandemic?
Dog food sales will recover at an impressive pace, registering 5.1% year on year growth in 2021.
- Who are the top players in the dog food market and what is their contribution towards sales?
Mars Incorporated,Purina, The J.M.Smicker Company,Hill’s Pet Nutrition, Affinity Petcare SA, Freshpet, Iams, Real Pet Food Company Pvt Ltd, Evanger’s Dog & Cat Food Company,Inc. Burgess Group PLC are the leading companies in the dog food market. They are expected to account for 30% to 40% of sales through 2021.
- What is the North America dog food market outlook?
Demand for dog food will increase at 5.2% CAGR in North America between 2021 and 2031.
- At what rate will the demand for dog food rise in Europe?
The Europe dog food market is expected to register 6% CAGR over the course of the assessment period.
- Who are the key exporters of dog food?
Germany, UK, Thailand, France, and Netherland are the key exporters of dog food.
- What are the key trends shaping the dog food market?
Rise in pet ownership, focus on pet humanization, and surging availability across online channels will shape the future of the dog food market.
- What is the outlook for dog food sales in South Korea and Japan?
Japan is expected to account for 31.3% of dog food sales in East Asia, while South Korea will contribute over one-fourth of sales registered in the region in 2021.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.