Dog Food Market – Growth, Trends, Impact of COVID-19 and Forecast (2022

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The dog food market is expected to register a compound annual growth rate of 4.6% during the forecast period (2022-2027). COVID-19 has had a negative impact on supply chains. Due to restrictions on the movement of raw materials, the dog food industry initially struggled in terms of supply and cash flow.

NEW YORK, Aug 23, 2022 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the “Dog Food Market – Growth, Trends, Impact of COVID-19, Forecast (2022 – 2027)” – https://www.reportlinker.com/p06316161 /?utm_source=GNW
On the other hand, the demand for the dog food sector has seen a steady growth in many parts of the world as people have adopted more pets as the desire for companionship increases during the lockdown.

To meet this demand, market players have shifted their focus from retail stores to e-commerce platforms by increasing their investment in developing their websites. There is an increase in the humanization of pets globally as pet owners treat pets like members of their own family. According to the American Pet Products Association, 67% of American households own a pet in 2019-2020, which equates to 84.9 million homes, and this number is expected to rise further during the forecast period. The total number of pet dogs owned in the United States is 83.3 million. Dog food accounts for 71% of pet food sales in the United States.

Premium Pet Food is natural, organic, higher quality and safer than regular pet food. With the increasing demand for premium pet food globally, many companies are planning to innovate high quality dog ​​food products to occupy significant market shares in this sector. For example, in 2020, Fwusow Industry Co., Ltd. Ltd, a major pet food manufacturer in China, has developed and launched a new range of dog food that will incorporate OxC-beta, helping support immune function by providing non-antibiotic means of promoting health, growth and performance in animals. Pain relief has been the main source of revenue for the past decade and is expected to continue, while factors such as weight management, skin care and digestive health are gaining importance and are expected to increase at higher rates during the forecast period. For example, obesity in pets has been observed to be a major health problem due to the erratic consumption and patterns of pet food. Due to the increase in pet breeding, along with the increased awareness of feeding pets with premium and packaged pet food, the dog food market is expected to grow during the forecast period.

Major market trends

Increase the trend of humanization of pets

The humanization of pets has received a lot of attention in the mainstream media over recent years globally. A study by the American Pet Products Association (APPA), as part of the National Pet Owners Survey (2020-21), revealed that more than 85 million households in the United States own one or more dogs, with 48% in homes. Thus, the increase in the humaneness of pets is expected to drive the growth of the market. According to the Pet Food Manufacturers Association (PFMA), in 2021, 3.2 million households in the UK have acquired a pet since the COVID-19 pandemic. Driven largely by Generation Z and Millennials, two-thirds of new owners (59%) are between 16 and 34 years old, and 56% of new dog owners have children in the home.

In most homes in the UK there are epidemic dogs, with 38% admitting it’s like having a new baby, indicating how humane the country’s pets are. This significantly increases the growth of the studied market. Woofwoofnow, a global pet advisory portal, was founded in 2018. Woofwoofnow’s goals are to be the most pet friendly organization and create a site that dog parents can rely on. It serves as a marketplace where people can browse pet related services.

According to ADM, the humanization of pets has gained more importance and will continue to influence trends. Many consumers apply their preferences and values ​​when buying to their dogs. According to a study by ADM Outside Voice, 30% of dog owners around the world have spent a significant amount of time in the last year searching for the best feeding options, and the growing consumer trend towards dog adoption has led to an increase in dog food prices, which is expected to expand the market Dog food and ingredients during the forecast period.

North America dominates the market

North America dominates the pet food market. Being the largest pet food market in North America, the growth of the pet food market in the United States has been attributed to the increase in pet ownership.

According to the 2019-2020 National Pet Owners Survey, conducted by the American Pet Products Association (APPA), 67% of American households (about 84.9 million) own a pet, the maximum being dogs. Spending on dogs has increased in the country in recent years. The growing health concerns of pet owners are leading to an increase in healthy and nutritious pet food innovations in the country. From 2019 to 2020, the average amount spent on dog treats per dog per year is $76. Dental treatments are used in pets to maintain oral health. According to the American Veterinary Dental Association, more than 80% of dogs develop periodontal disease by the age of three. In 2019, RedbarnPet Products launched its new line of dental treatments called “Chew-A-Bulls” in the country. Such developments are driving the growth of this sector in the country.

The growing acceptance of organic dog foods in the country has resulted in the fastest growing market studied in the coming years. Various pet stores and major players are entering the organic dog food market to make a profit. For example, the five largest pet food marketing companies in the United States, Nestle SA, Del Monte, Hill’s Pet Nutrition, Mars, and P&G, are investing heavily in the natural and organic sector by expanding their product lines in the dog food category. Also, Tender and True Organic Dog Food, Gather Free Access, Castor and Pollux Organix, Primal Freeze, and Honest Kitchen are some of the leading brands of organic dog meals in the country.

Competitive scene

The dog food market is slightly integrated into nature, with major players including Mars Incorporated, Nestle Purina Pet Food, Colgate Palmolive and General Mills. The adoption of new strategies by the existing players has resulted in the dominance of a few players in the market. These major players invest in new products, product improvements, expansions, and acquisitions for business expansions. Another major area of ​​investment is to focus on research and development to launch new products at low prices.

Additional benefits:

Market Estimate Sheet (ME) in Excel format
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