Pet Food Market Segmentation:
Pet (Dogs, Cats, Fish, Others)
The dogs segment is estimated to gather the highest pet food market share of about 50% over the forecast period. This growth in the market can be impelled by the rising disposable income. Disposable incomes, along with expenditures per household globally, are expected to grow by over 3%. Hence, the demand for breed dogs is also growing. Moreover, it has been proven that having a dog at home can benefit one's physical and mental health in a number of ways. For instance, having a dog at home can release oxytocin and also increase a sense of responsibility and purpose, or boost physical activity. Having a dog has also been predicted to make humans happy, which is why dog ownership is slated to grow further.
Additionally, the cat segment is also projected to observe significant growth in the market through 2035. The major factor boosting segment growth is growing public awareness regarding the importance of animals’ welfare. Furthermore, cats usually have very low maintenance and adapt to the environment very quickly, which is why the preference for cats is anticipated to grow.
Form (Wet, Semi-Moist, Dry)
The dry segment in the pet food market is slated to generate highest revenue share by the end of 2035. This is because dry food is easy to store and causes the least amount of mess when served. Furthermore, dry food offers crunch and chewing to the pets, which is necessary for them to regulate their general health. Furthermore, dry food is considered to possess a longer shelf life in contrast to wet food. Additionally, the price of dry pet food is also low, which makes it affordable to a large number of general populations.
Our in-depth analysis of the global market includes the following segments:
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