Dog Food Market Report by Technavio predicts USD 12.84 Bn growth -- Driven by increasing pet health awareness

NEW YORK, Sept. 5, 2022 /PRNewswire/ -- The dog food market has grown substantially over the years. To estimate the size of the market, Technavio has tracked the recent trends and developments in the dog food market. The analysts at Technavio have considered various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download Sample PDF Report Here to get an idea of the overall scope of the full report.

The report on the dog food market by Technavio expects the market size to increase at a CAGR of 4.27% and register an incremental growth of USD 12.84 billion between 2021 and 2026. However, the growth forecast could be missed with the market growing slower than expected if the following factors come into play: changing lifestyle patterns and busy work lives of the urban populace and limited choice of frozen foods.

According to Technavio, the growth of the market is primarily driven by increasing pet health awareness.

With rising disposable incomes, people are more inclined to provide a better lifestyle for their pets. They are learning about how to better take care and feed an animal. This has increased the awareness of pet health among consumers, which is driving the demand for pet food that is free from grains, dyes, sugar, preservatives, and other chemical additives. All these factors are expected to foster the growth of the market during the forecast period.

"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", says an analyst at Technavio.

The market structure is fragmented. The market has the presence of several global, regional, and local vendors. Additionally, factors such as the low cost of switching products for buyers, high product perishability, high exit barriers, and high fixed cost requirements intensify the threat of rivalry in the market. As a result, the threat of rivalry was moderate in 2021, and it is expected to remain the same during the forecast period.

The report breaks down the market into the following segments:

• Product: dry dog food, dog treats, and wet dog food
• Geography: North America, Europe, APAC, MEA, and South America

Based on the product, the dry dog food segment is expected to create more revenue in the market. The segment is driven by the increasing focus of vendors on offering dog food products in attractive packaging and other packaging innovations. In addition, vendors operating in the segment are adopting strategies such as mergers and acquisitions (M&A) and product innovations to expand their consumer base. This will further drive the growth of the segment.

In terms of region, North America will emerge as the dominant region, occupying 33% of the global market share. The regional market is mainly driven by the increasing production of clean-label pet food products and the move toward innovative and sustainable packaging materials by manufacturers.

The complete report on the global dog food market offers detailed insights into the potential business segments and regions to invest in over the forecast period. Before making the purchase, we recommend reading our Sample PDF Report.

The dog food market report answers questions such as:

• Is the market structure fragmented or concentrated?
• What was the market size in 2020 and the forecast for the dog food market through 2025?
• Which are the best product segment areas to invest in over the forecast period?
• What is the market share of dominant and strong vendors in the dog food market?
• What are the inhibiting factors and the impact of COVID-19 on the dog food market growth?
• What are the latest trends and regulatory frameworks in the dog food market?

Got more queries? Speak to our analyst now

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Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product
• Dry dog food - Market size and forecast 2021-2026
• Dog treats - Market size and forecast 2021-2026
• Wet dog food - Market size and forecast 2021-2026
• Market opportunity by Product

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2021-2026
• Europe - Market size and forecast 2021-2026
• APAC - Market size and forecast 2021-2026
• MEA - Market size and forecast 2021-2026
• South America - Market size and forecast 2021-2026
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• 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
• The J.M. Smucker Co.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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.

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Website: www.technavio.com/
Newsroom: newsroom.technavio.com/news/dog-foodmarket

SOURCE Technavio