Portland, OR -- (SBWire) -- 02/21/2018 --A recent report published by Allied Market Research, titled, Pet Food Market Global Opportunity Analysis and Industry Forecasts, 2014 - 2022, projects that the global pet food market size is projected to reach $92,747 million, registering a CAGR of 4.1% during 2016 - 2022. Moreover, North America is expected to dominate the global pet food market throughout the analysis period, registering a notable CAGR of 3.8%.
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The pet food market is segmented, based on the type of pet food, into dry food, wet or canned food, treats & snacks, and others. The dry food segment generated the highest revenue in the global market in 2015, because it costs less than other foods and offers convenience to pet owners while feeding their pets in larger portions. Dry foods contain adequate amount of nutrients, and does not require refrigeration unlike wet foods. However, treats & snacks segment has witnessed considerable growth in the recent years, as they are healthier and provide functional benefits such as weight control, joint care, dental care digestive health, and improves immune system of pets.
The key players profiled in the report include Mars Petcare US Inc., The Procter & Gamble Company, Big Heart Pet Brands, Nestle Purina PetCare, Diamond Pet Foods, Hill's Pet Nutrition, Tiernahrung Deuerer GmbH, WellPet LLC, Blue Buffalo Co., Ltd., and Heristo Aktiengesellschaft.
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Pet Food Market Trends, Analysis Forecast to 2022
The report includes an in-depth analysis of the global pet food market along with the current trends, drivers, restraints, and growth opportunities.