Transparency Market Research has published a new report titled ”Pet Food Market - Europe Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021” to its report store.
Albany, NY -- (SBWIRE) -- 08/17/2015 -- According to a new market report published by Transparency Market Research "Pet Food Market - Middle East And Latin America Industry Analysis, Trend, Size, Share and Forecast 2014 - 2020", the Middle East pet food market was valued at USD 239.6 million in 2013 and is expected to reach USD 350.5 million by 2020, growing at a CAGR of 5.6% from 2014 to 2020, and the Latin America pet food market was valued at USD 8,202.1 million in 2013 and is forecast to reach USD 10,361.0 million by 2020, growing at a CAGR of 3.4% during the forecast period.
The pet food market in Middle East and Latin America is primarily driven by growing awareness regarding pet health. Consequently demand for packaged and branded food is expected to increase in near future. Moreover, with growing urbanization comes busy work schedule. As the company of pets act helps to release stress, there is an increasing trend of people adopting pets. This factor is also driving the demand for pet food in these regions. In addition, demand for pets for companionship and for security reason is rising due to the growing trend of the nuclear family. This, in turn, has significantly boosted the demand for pet food in Middle East and Latin America.
Browse the full Pet Food Market - Middle East And Latin America Industry Analysis, Trend, Size, Share and Forecast 2014 - 2020 report at: http://www.transparencymarketresearch.com/middle-east-latin-america-pet-food-market.html
The pet food market of Middle East and Latin America is segmented into pet type, food type and by geography. According to pet type, the different segments covered under it are dog food, cat food and others including bird food and fish food. By food type, the pet food market is segmented into dry food, wet/canned food, nutritious, snacks/treats and others consisting of semi moist food and frozen food. The report divides the pet food market of Middle East into Israel, UAE and others. The Latin America pet food market is segmented into Brazil, Argentina and others consisting of Chile and Venezuela. The large potential of pet food market is attracting many industries to enter this market. However, new entrants have to comply with the standards, regulations and have to keep the nutritional factors intact in order to sell these products in the local markets.
In both Middle East and Latin America, dry pet food held the maximum share in the pet food market. The prime factor contributing to the growth of dry food market is its low price compared to other types of pet food. Nutritious food is the fastest growing in Middle East and Latin America expanding at a CAGR of 16.8% and 8.0% respectively. Increasing consciousness of the pet owner's regarding pet health is expected to increase the demand for nutritious food. Moreover, increasing diseases such as Lyme disease, canine parvovirus infection etc among pets is contributing to the growth of prescribed nutritious food.
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Major industry participants in pet food market are Mars Petcare Inc., Royal Canin, Pedigree, Proctor and Gamble, Nestle Purina PetCare, and Whiskas. The report studies the pet food market and estimation is provided in terms of revenue (USD Million) and volume (Kg Million) from 2014 to 2020. Market estimates on the basis of pet type and food type have also been provided for Middle East and Latin America pet food market.
The pet food market is segmented into:
Pet Food Market, by Pet Type
Pet Food Market, by Pet Food Type
Pet Food Market, by Geography:
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