Dog Food Market to record USD 12.84 Bn growth — Technavio expects increasing pet health awareness to drive growth – PR Newswire

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Jul 21, 2022, 19:35 ET
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NEW YORK, July 21, 2022 The "Dog Food Market by Product and Geography – Forecast and Analysis 2022-2026" report has been added to Technavio’s offering. According to the report, the market will observe an incremental growth of USD 12.84 billion between 2021 and 2026, expanding at a CAGR of 4.27% during the forecast period. The increase in pet health awareness is expected to drive the growth of the market. In addition, factors such as the rise in product visibility and accessibility through online retailing and increasing focus on manufacturing clean-label pet foods will further accelerate the growth of the market. Download a PDF Sample Report Here
The market is fragmented due to the presence of several established vendors. The players in the market are forming strategic alliances to remain competitive and gain an edge over their rivals. For instance, In July 2021, Nestle SA announced a new collaboration with Starbucks Corporation to bring Starbucks Ready to Drink coffee beverages to select markets across Southeast Asia, Oceania and Latin America. In August 2021, the company completed the acquisition of The Bountiful Company core brands. Vendors are also focused on launching new products to expand their market shares. For instance, In February 2021, Champion Petfoods LP launched three premium, nutritious, and flavorful foods and treats named ACANA Healthy Grains Food, Freeze Dried Food, and High Protein Biscuits.
Bravo LLC, Champion Petfoods LP, Grandma Lucys LLC, Hills Pet Nutrition Inc., Mars Inc., Nestle SA, Primal Pet Foods Inc., Stella and Chewys LLC, Steves Real Food, and The J.M. Smucker Co. are some of the major market participants. Although the increasing pet health awareness, rise in product visibility and accessibility through online retailing, and increasing focus on manufacturing clean-label pet foods will offer immense growth opportunities, changing lifestyle patterns and busy work lives of the urban populace, limited choice of frozen foods, and the rising cost of raw materials will challenge the growth of the market participants.
To make the 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. View Sample Report Here
The dog food market is segmented as below:
The dry dog food segment observed maximum growth in the market in 2021. The increasing focus of vendors on offering dog food products in attractive packaging and other packaging innovations is driving the growth of the segment. The market growth in the segment will be significant during the forecast period.
About 33% of the market growth will originate from North America. The increase in the production of clean-label pet food products by manufacturers will be driving the growth of the regional market during the forecast period. In addition, the increasing sales of dog food products through subscriptions and e-commerce portals is contributing to the growth of the dog food market in North America. Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our dog food market report covers the following areas:
We provide a detailed analysis of around 25 vendors operating in the dog food market. Backed with competitive intelligence and benchmarking, our research reports on the dog food market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Dog Food Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 4.27%
Market growth 2022-2026
USD 12.84 billion
Market structure
Fragmented
YoY growth (%)
2.87
Regional analysis
North America, Europe, APAC, MEA, and South America
Performing market contribution
North America at 33%
Key consumer countries
US, China, Russian Federation, Japan, and UK
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Bravo LLC, Champion Petfoods LP, Grandma Lucys LLC, Hills Pet Nutrition Inc., Mars Inc., Nestle SA, Primal Pet Foods Inc., Stella and Chewys LLC, Steves Real Food, and The J.M. Smucker Co.
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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