Global Animal Food Market - Industry Size, Share, Trends, Analysis, And Forecasts 2016 - 2024
Rise in the awareness about the nutritional requirement of animals is creating space for the growth of animal food market. Earlier, pet owners used to feed scraps and leftovers from the family meal, which used to cause allergic reactions in pets. Nowadays, they are considering the nutritional elements in adequate diet that pets require for their overall growth.
One trend that is observed in recent years is pet-parenting. The trend is shaping the animal food market in the developed country. Statistically, over one third household of developed countries own pet. These owners tend to provide best of care to the pets in terms of veterinary or food.
The buyers are becoming concerned about the food items and tend to purchase food items that are natural, locally grown, and offers digestive benefits. These factors are pushing the sale of specialized and premium pet food items. The premium pet foods are high on demand when compared to mid-priced products. Further, pet humanization is creating huge opportunity for animal food market. This is resulting in increased health consciousness among pet owners. Further, it is generating demand for pet food items free of chemical additives, sugars, dyes and grains.
The pet food market is segmented into cat, dog, bird, and others. The dog food market is likely to dominate among all other segments and is expected to grow rapidly in the forecast period. Further, bird food also offers growth opportunity for animal food market.
Government bodies are also introducing programs encouraging adoption of pets. This, in turn, is enhancing the adoption rate of dogs and cats. Rising concern about the health of pets is resulting investment on health and pet food items. Thereby, fuelling the expansion of animal food market. In the entire pet food market, dogs and cats contribute in total of 80% of the share. Further, dogs’ food are dominating in the animal food market.
The global animal food market report covers all its pivotal aspects in order to confirm or deny market speculations and help create a uniform and consistent conclusion regarding the global animal food market’s future. The report thus helps visualize a trajectory for the market, along which companies can generate their own portfolio and strengthen their market position.
One of the more important aspects that the research report on the global animal food market tackles is the impact of certain food products on the health and well-being of animals. Certain products have been proven to cause pets discomfort or even illness, making consumers averse to buying them.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.