US is the Leading Country in the Global Pet Food Market: TechNavio Report

LONDON - Feb. 13, 2014 - PRLog -- TechNavio, the independent London-based global research firm, today announced that US is the Leading Country in the Global Pet Food Market. The analysis is for the forecast period 2014-2018.

The Pet Food market in North America is moving toward its maturity. The market is witnessing steady demand for pet foods among households. The US is the largest revenue contributor within North America, accounting for approximately 85 percent of its market share. According to the statistics provided by The US National Council on Pet Population Study and Policy, there were 83.3 million dogs and 95.6 million cats owned by US households in 2013 and this figure will continue to increase during the forecast period.

Increasing pet humanization, growing urbanization, and increase in pet ownership are some of the prime factors that are propelling the growth of the Global Pet Food market during the forecast period. Because of the increase in disposable income of the urban population and a consequent increase in the number of people owning pets, emerging countries in regions such as Latin America and the APAC region are witnessing increased demand for pet food. This in turn is leading to market growth.

To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentation, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.

If you are interested in more information on this topic and our upcoming research on the Global Pet Food Market 2014-2018 (http://www.technavio.com/report/global-pet-food-market-20...), please send an e-mail to media@TechNavio.com

About TechNavio

TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.

TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.

TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of Global Pet Food Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

Decision makers and influencers in sales & marketing, strategy, product and R&D teams rely on research from TechNavio. We have a large and growing base of happy customers worldwide. Our customers include technology suppliers, end users, consulting companies, investment firms and research institutes.

Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.

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