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Asia Pacific dog food market generated a revenue of over USD 10 billion in 2018 and will be the fastest rising regional market for the product in future. This is mainly due to people in Asia-pacific region adopting canines for social comfort, security and as a companion. This in turn will boost the regional dog food and snack market in the near future.European market size offers a subsequent share for Europe i.e. over 20% in 2018 and is expected to be the growing regional market for the dog food and treat. This is due to people in European region are adopting dogs with their increasing quality of life and with growing aged population for social comfort, security and as a companion. Thus, rising humanization towards dog will propel the dog food market in the projected timeframe.
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Dog food by type is further classified into dry food and wet food. Dry food captures the maximum share of over 60% in 2018. It has low moisture content and includes extruded foods, flakes, etc. Whereas, wet food has high moisture content and are usually sealed under high pressure, these consist of foil trays, cans and pouches where the contents include chunks in jelly, chunks in gravy and meatloaf formats.
Dog food and snack market by distribution channels are likely to grow with a significant rate of CAGR over 4.5% by 2025 for online sellers. It is eminent as they offer wide variety of dog food and snack products with required specifications to choose from. Moreover, with increasing demand for the product and convenient use of e-commerce is likely to upsurge the dog food market in the coming years.
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Growing concern of human allergies from dog’s fur and other related issues such as obesity in dog from nutritious food that reduces its training and makes it lazy which may lose its social productivity in security is likely to hamper the dog food market.
Rapid urbanization and development have led to increase in elementary family’s, living in society, apartments, flats, etc. desire for adopting dog as a companion. It guides them in maintaining their regular schedules if properly trained and also adds a sense of security for the family, which is the main reason for rising humanization of dogs in families. Increasing ownership for dog and growing concern for their care and nutritious food may promote the use of dog food market.
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Moreover, rising criminal and terrorist activities has also led to increase in number of dog recruitments by police and other defense agencies that demands for specific dog food and snack in order to provide right diet. Likewise, dog sports like greyhound racing, dog jumping, etc. a mean of entertainment that will also drive the market in the near future.
Contact Info:
Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/dog-food-and-snacks-market
Release ID: 516777