Gourmet Pet Food Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Albany, NY -- (SBWire) -- 11/27/2018 --When it comes to pets, wealthy owners are leaving no stone unturned to spoil them. From food to recreation, they are getting the best that is there for taking in the market. This has been a boon in the pet industry and has spawned the gourmet pet food market. Consisting of low-carb, healthy ingredients, the global gourmet pet food market is a niche industry that is predicted to see steady growth in the near term.

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Some of the trends shaping the market have been discussed below:

- The gourmet products are said to be driving the pet food industry at present. Both large multinationals and niche hyper local brands are battling it out for the customer's attention. They are seen coming up with newer products ranging from personalized birthday cakes to customized food for delivery. Such trends are helping the global gourmet pet food market to grow.

- Meanwhile, ecommerce platforms too are serving to boost sales in the global gourmet pet food market owing to the convenience they provide. For example Alibaba Group's virtual storefront in Taobao.com, selling personalized products such as cakes and food for pet birthdays, saw sales to the tune of US$152, 000 in the last fiscal year.

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- A noticeable trend in the global gourmet pet food market is the emergence and popularity of organic ingredients for formulating healthy stuff. This, in turn is because of the increasing humanization of pets. From packed organic stuff sans additives on shelves of supermarkets and hypermarkets to made-to-order ones, those surely are set to create waves going forward.

- The U.S., where 60.0% of households own pets, is currently driving the global gourmet pet food market. Increased spending capacity of people and a developed pet market in the region have been major drivers. Meanwhile, Asia Pacific, powered primarily by China's large population is emerging as a lucrative market.