2014-02-14 17:25:01 - Global Pet Food Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Pet Food market is to grow at a CAGR of 6.35 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increase in urbanization which has increased the purchasing power of people. The Global Pet Food market has also been witnessing a rise in the number of nuclear families. However, health issues faced by pets often restrict people from keeping pets in their homes and could pose a challenge to the growth of this market.
The Retail industry has witnessed a growth in organized retailers with the establishments of supermarkets, hypermarkets, and speciality stores. Convenience and value has become important for pet owners because of busy time schedules. Organized retailers enable pet
owners to save time by providing a large number of products under the same roof. As a result of the increase in organized retailing in developing countries such as China and India, the visibility to pet food brands has increased with more retailers providing shelf-space to pet food brands and also special stores being established for pet foods. The pet food stores and supermarket outlets are growing at a rate of 10-13 percent, which is significant to the growth in the Global Pet Food market. Hence, the trend of organized retailers is set to drive the growth in pet food sales.
One of the main drivers in this market is the increase in pet ownership worldwide. The recent increase in urban population has led to an increase in consumer spending on pet foods, which has contributed to the growth of the Global Pet Food market.
One of the main challenges in this market is the health-related issues faced by pets. In addition, the increased spreading of pet allergies among humans and frequent product recalls, which hamper the image of the vendor in the market, are some of the major challenges confronting the market.
The key vendors dominating this space include Colgate-Palmolive Co., Del Monte Corp., Mars, Inc., Nestle S.A., and Procter and Gamble Co. The other vendors mentioned in the report are Agrolimen SA, Mogiana Alimentos SA, Nutriara Almentos Ltda, Partner in Pet Food, Total Alimentos SA, and Unicharm Corp.
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