January 5 2021
Snacks and treats for the animal friends come in a variety of forms. There are numerous forms of produced pet food, including wet (can, pouch, tray), dry (extruded or baked), and complimentary treats. The method of production and the ingredients used vary according to format. The popularity in selecting dry pet food and snacks is rising the sales chart in the global market. An increase in information and growing accessibility to dry pet food and snacks are helping the market. Increasing online shopping trends among users allow the easy availability of such pet care products. The dry pet food and snacks segment is expected to witness high demand during the forecast period. As compared to wet pet food and snacks, dry pet food and snacks are most favoured among pet owners and available at a lesser price. This factor is likely to increase the demand for the pet food and snacks market during the forecast period.
The dry Pet food market is experiencing healthy competition due to increased new entrants and competitive pricing strategies innovated by market players. Pricing strategies of new companies have constrained entrenched players in the market to adopt competing prices. Low pricing has led to reduced profit margins from products and services. In terms of form, dry food and snacks are expected to be the most attractive segment during the forecast period. Compared to wet pet food and snacks, dry pet food and snacks are the most preferred products. The rise in awareness about the nutritional requirements of pets is driving the dry pet food market. The Asia Pacific, especially China and India, are the target markets for disposable dry pet food products. Product innovations rise in pet owners' population and growing consumer awareness, increased pet ownership, and growth in expenditure on animal health care drive the dry pet food segmentation in the Asia Pacific.
Looking for a complete analysis of competitive dynamics? Request a PDF sample here
The report states that the factors such as a rise in disposable income, advancement in lifestyle patterns of selves, and various corporate cultures are anticipated to drive the demand for pet food and snacks during the forecast period. The market has beheld a trend in pet food and snacks due to the rise of e-commerce platforms worldwide. E-commerce has raised tremendous popularity in the rural as well as urban areas, empowering consumers to order online and receive products at their doorstep. This progress in the sales field has improved the customers' reach and is anticipated to boost sales. Moreover, the report also highlights copious factors responsible for the growth of the market such as development constituents, statistical growth, business strategies, financial loss or gain to assist readers, as well as clients, comprehend the pet food and snacks market from a global perspective.
The global pet food and snacks market has been segregated in the report based on the form, end-use, distribution channel, and region. The pet food and snacks market can be divided into Dry Food and Wet Food to categorize by form. On the basis of Ingredient, the pet food and snacks market can be divided into Chicken, Beef, Fish, Turkey, Beet Pulp, Sweet Potatoes, and Others. Based on end-use, the pet food and snacks market can be divided into individual and commercial. The global pet food and snacks market can be bifurcated into offline and online based on the distribution channel. The offline segment can be sub-divided into specialty stores, hypermarkets, supermarkets, and departmental stores. The online component is sub-segmented into company-owned websites and e-commerce portals.
Industry Probe is a global market intelligence and advisory firm with an unwavering purpose to help businesses achieve strategic objectives through varied offerings. Our services are dedicated to serving the companies operating in the consumer goods and industrial machinery sectors based on a unique amalgamation of our big data technology and human intelligence. Our offerings comprise syndicated research, strategic consulting & advisory services, competitive intelligence, and full-time engagement to bring authentic & actionable insights into our clients’ business environment. Combining research & technology adoption, playing the perfect mix of the best data, and cantered on consumer goods & industrial machinery sectors, Industry Probe believes in targeting one industry at a time.
1441 Broadway, 6th Floor – # 6131
New York, NY 10018