The Pet Food market size is forecast to increase at a Compounded Annual Growth Rate (CAGR) of 5.8% over the forecast period from 2021 to 2028. The market report analyses Pet Food companies, market size outlook across types, applications, countries along with competitive strategies, Pet Food trends, drivers, opportunities and market developments. The base year for the Pet Food study is 2020.
The global Pet Food market is poised to register optimistic growth rates throughout 2021 and 2022 as positive momentum builds in the world economy, though some differences remain among geographies. The pace of change will accelerate in the Pet Food industry and companies quickly re-aligning their strategies will emerge stronger from the unprecedented changes. However, the COVID-19 pandemic remains a major threat for most Pet Food market outlook in addition to concerns of inflation, supply-chain disruptions, and weak consumer demand.
Global Pet Food Market- Post COVID-19 Recovery Scenarios and Impact Analysis
The COVID-19 pandemic had a significant impact on the regional and country-level Pet Food markets worldwide. The report presents three outlook scenarios for the global Pet Food market size for 2021 and 2022.
- Low Growth: Economic recovery will be slow, supply-chain disruptions continue to pose challenges, and consumer demand remains weak.
- Medium Growth: Economic recovery will be fast, supply-chain disruptions continue, and consumer demand recovers moderately.
- High Growth: Rapid economic recovery, supply-chain disruptions handled, and consumer demand will be strong
The outlook for economic progress across most countries is optimistic for 2021. Assuming localized recurrences of the Coronavirus, economic growth accelerates in the second half of 2021, and consumption returning to pre-pandemic levels in 2021, Chinese real GDP growth is estimated at 7.9% and 8.4% in 2021 and 2022 respectively. Similarly, the US is likely to register 4% growth in 2021 and 3% in 2022 while the European real GDP growth is estimated at 2.7% for 2021 and 5.1% for 2022.
Pet Food Market Driving Factors, Restraints, and Opportunities
The global Pet Food market has significant market potential and offers diverse opportunities across countries. Strategic and financial investors are racing to capture the strong potential in the industry. In this report, we examine the main Pet Food trends that will likely influence the future of Pet Food markets. The Pet Food report also identifies promising investment opportunities and offers a view of how players might successfully pursue them. The pandemic led to a widening divide between rural and urban communities, and companies must overcome challenges in the Pet Food industry. Acting with determination and speed is one of the critical success factors in the near to medium future. Detailed analyses of challenges faced by Pet Food companies operating in the market are included in the report.
Pet Food Market Segmentation Analysis and Outlook
The report scope encompasses major Pet Food types and major Pet Food applications worldwide and presents a detailed analysis and outlook of each specific Pet Food type and application. Forecasts of individual types and applications are provided at the global level and also analyzed for North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In each region, the largest and fastest-growing market types and applications are analyzed. The base year is 2020 and the forecast period is from 2021 to 2028 for all segments.
Geographic Analysis: Asia Pacific countries are among the fastest-growing markets globally
We hold an optimistic outlook for both the consumption and market size outlook for Asia Pacific countries. With most countries in the Asia Pacific witnessing their currencies appreciate against the US dollar over 2021, the short-term outlook remains robust across markets. Further, over the long run, driven by attractive demographics profile in the Asia Pacific and an increasing number of middle-to-upper income households, countries in the Asia Pacific Pet Food market will register a strong growth outlook throughout the forecast period. Consumers are also quickly re-prioritizing their spending away from essentials, which will support the Pet Food market growth in the Asia Pacific.
In addition to the Asia Pacific, the report also analyzes the short-term and long-term outlook of North America Pet Food market, Europe Pet Food market, Latin America Pet Food market, Middle East, and Africa Pet Food markets. Countries covered in the scope of the Pet Food study include United States, Canada, Mexico, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, China, India, Japan, South Korea, Middle East, Africa, and others.
Competitive Landscape: Pet Food Market Companies
The global Pet Food market is facing intense competitive conditions as more companies continue to target specific customer bases. The recovery from the pandemic is not uniquely spread across geographies and accordingly, most companies are opting for focused strategies to localized market conditions since the start of the pandemic. For instance, the majority of European consumers continue to emphasize seeking brands with strong purpose and good values while there has been a fundamental shift from essential goods in some Asia Pacific markets. The report analyses five leading Pet Food companies including their business operations, SWOT Analysis, and financial profile.
Scope of the Pet Food Study - Historic and Forecast period considered for the study is from 2018 to 2028
- Base Year for the study is 2020, while the forecast period is from 2021 to 2028
- The Pet Food market size is presented in value terms, in US Dollars
- Strategic Analysis Review including Trends, Drivers, Restraints, Key competitive strategies, and porter’s five forces analysis
- Segments covered include types, applications, and countries/regions
- Pet Food Countries covered include US, Canada, Mexico, China, India, Japan, South Korea, Germany, United Kingdom, France, Spain, Italy, Brazil, Argentina, Other Asia/Oceania, Other Europe, Other Latin America, Middle East, Africa, and others
- Pet Food Companies including five key players in the industry and their business overview, SWOT, and financial profiles are detailed.
Reasons to Buy - The report assists in finding the right investment opportunity through a deep understanding of specific segments, and geographies
- Gain reliable current market information and long term market outlooks
- Data accessible in excel formats to support your organization with strategic analysis and economic modeling
- Improve your planning and forecasting by understanding potential opportunities, market trends, and restraints
- Stay ahead of the curve with market intelligence on 15 countries and five companies worldwide
Key questions answered - What are the possible scenarios of Pet Food market growth outlook in the post-pandemic period?
- Who are the major end-user industries of Pet Food?
- The impact of buyer and supplier bargaining power, the threat of new players and substitutes, and competitive rivalry?
- Which countries will gain market size in the medium to long term future?
- What are the promising trends and drivers of Pet Food markets?
- Who are the leading players and how is the competition?
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Gross Domestic Product
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