US is the Leading Country in the Global Pet Food Market: TechNavio Report
• Key Buying Criteria include Cost, Nutrition Value, Packaging, Quality
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/
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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.
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