(Food-Beverage-News.Com, June 26, 2018 ) 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.
The global pet food market is valued at $220 billion in 2017 due to the increase in demand for pet food due to increasing pet population. Also, rapid urbanization, rising disposable income in emerging countries such as China and India, rising humanization of pets and increasing availability of premium pet food may drive the pet food market.
In the report, the global pet food market is divided into two segments. Other animal foods occupy more than 80% of the market share whereas the dog and cat food segment occupies the remaining share of the market.
The USA was the largest country in the pet food market in 2017, accounting for more than one-fourth of the market share. This was due to the presence of a large customer base with high disposable income and high levels of pet humanization in the country. France and Japan followed the USA as the next largest countries in the market.
The pet food market is fragmented with a number of large and small organizations. The top five competitors make up close to 19% of the total market in 2017. Mars Petcare Inc. was the largest competitor of the market, followed by Nestle Purina Petcare and Nutreco. Mars Petcare Inc. is a subsidiary of Mars, Incorporated. Mars, Incorporated was founded in 1911 and is headquartered in McLean, Virginia, US. As of December 2015, the company had approximately 75,000 employees worldwide.
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