(Entertainment-NewsWire.com, October 03, 2018 ) Pet food manufacturers are producing grain-free dog food in response to changing consumer preferences and varying nutritional requirements of dogs. Grain-free dog foods do not contain wheat, barley, corn, oats or rice, and use higher quality ingredients such as real chicken, beef, salmon, whitefish, turkey, tuna and eggs which reduces dog food allergies. Merrick Grain Free, Wellness Core, Nature’s Variety, Horizon Legacy and Acana are some of the popular grain-free pet food brands available in the market. According to GfK, Germany’s largest market research institute, about 53% of new pet food items are now grain-free and account for 39% of overall pet food sales, thus indicating high demand for these products.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL PET FOOD MARKET TO GROW TO $258 BILLION BY 2021
North America was the largest region in the pet food market in 2017, accounting for more than one-third of the market share. This was due to the presence of a large pet population and thus a large customer base for pet food.
According to The Business Research Company’s Consultant, Nitin Gianchandani, the increasing humanization of pets is enabling pet food manufacturers to offer premium products targeted towards pet owners. Humanization of pets implies that pet owners treat pets like members of their family, and thus they are increasingly buying premium and super-premium foods and sophisticated snacks and treats for pets. Premium pet foods are natural, organic, have higher quality and are safer than regular pet foods. In 2016, about 14% of pet food launches in the USA were positioned as indulgent or premium. Mars’ Sheba Perfect Portions Pate, Nestle Merrick’s Purrfect Bistro Gourmet Shreds and Purina Fancy Feast Broths are common super-premium pet food products. Turbopop K9 Superfood Snacks, a sophisticated snack for dogs, is available in flavors such as Pumpkin & Grilled Lamb Crunchy Bites, Roast Beef & Blueberry Crunchy Bites and Roast Duck & Kale Crunchy Bites
Mars Petcare Inc. was the biggest player in the pet food market, with revenues exceeding $33 billion in 2015. Mars company’s growth strategy aims at expanding geographically by acquiring companies in the pet food market. In 2014, the company acquired pet food business of The Procter & Gamble Company in New Zealand and Australia. The acquisition includes integration of Procter & Gamble’s major pet food brands such as Iams and Eukanuba.
The pet food industry includes establishments involved in manufacturing dog and cat food from ingredients such as grains, oilseed mill products and meat products. This market does not include agricultural animal food.
Pet Food Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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