Dynamics of the pet food market are expected to undergo change with pet food manufacturers beginning to focus on innovative angles such as weight loss foods, special diet and condition-specific functional foods, grain-free pet foods , and innovative marketing dynamics. This is according a report released by Global Industry Analysts, Inc.
The report is titled “Pet Foods: A Global Outlook” and provides statistics, market briefs, and summaries of research findings from Global Industry Analysts, Inc. Offering a view of the international pet food industry, major trends and issues are identified. Regional markets focused upon include the United States, Canada, Mexico, Japan, Europe, Asia-Pacific, Latin America and South Africa.
In the report, dry pet food continues to dominate over wet food in most regions, particularly because dry food is not as costly as the wet version. Convenience is driving sales in major developed markets, and a host of reasons are given as to why dry food has increased in developed markets. Those reasons include awareness about health benefits of dry food as compared to wet food, price factor, and health and diet concerns led to a declining trend in wet foods.
Markets that are emerging such as in Latin American, Africa, and the Middle East report increased product availability across all price segments and this anticipation drives consumers to feed pets with prepared food. Major emergent markets like China and Brazil see a shift in pet prepared food due to growing disposable incomes. Markets like Japan are seeing a surge in older pets, so the pet food makers are catering to this demographic segment.
Global Analysts Industry, Inc. (GIA) publishes over 1,300 full-scale research reports and analyzes over 40,000 market and technology trends while monitoring over 126,000 companies worldwide. With 9,500 clients in 27 countries, GIA is one of the world’s largest market research firms. They were founded in 1987 and employ over 800 people.
For more information, learn about the entire report at www.strategyr.com/Pet_Foods_Industry_Market_Report.asp