Inkwood Research estimates that the global pet food market will register a CAGR of 7.56% in terms of revenue during the forecast years 2022-2030.
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Pet food is special food for domesticated animals that is tailored to their nutritional needs. This includes grains, meat by-products, meats, minerals, vitamins, grains, etc. This includes semi-moist, canned, dry varieties and snack foods such as treats, kibble and cookies.
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The high demand for premium and organic pet food is driving the market demand
Growing concerns about pet health are driving demand for organic and premium pet foods. This has propelled animal feed manufacturing in the United States, United Kingdom, China, Italy, Germany, etc. Pet owners often consider pets as family members and as such tend to spend heavily to get the best products and services. This leads to an increased demand for premium and organic foods to feed their “fur babies”.
In addition, organic pet foods are free from artificial colors, synthetic hormones, antibiotics, flavors, preservatives and toxic pesticides. In addition, premium pet food has higher quality ingredients than generic pet food. Also, companies that produce such foods have a special division between nursing mothers, kittens, puppies, and breeds. They also formulate diets according to the animal’s nutritional needs, as opposed to normal pet food production.
The branch-based sales channel has the largest share of sales
Reliability in relation to brands and store owners is the number one criterion consumers look for when purchasing pet food. Pet food stores include specialty stores and hypermarkets &…