Humanization of pets is boosting the growth of global pet food market Humanization of pets is boosting the growth of glo | Page 2

Globally, the pet food market is driven by the dog food market followed by cat
food market
In 2017, global pet population was more than 189.0 million, out of which, about
47.0% of the pets were cats. People in Europe and America prefer adopting cats.
In 2017, dog pet food held the highest share in global pet food market and is
expected to continue to dominate the market during the forecast period as well.
Ease of order and delivery are few factors which are encouraging the pet owners
to order pet food through online stores. The online stores are expected to grow
at an estimated CAGR of 5.6% during the forecast period.
“The growing humanization trend and urbanization are encouraging the pet
owners to spend more on their pets, specifically, on food. Today, the pet owners
are more concerned of spending their money on their pets’ food, high-end
accessories and medical treatment. It is anticipated, in coming years, the pet
food market will be witnessing significant growth in birds and fish food
products.”
—-GMI Research
Based on geography, North America held the largest share in the market in 2017
due to the increased pet food spending, specifically in the US with dogs’ food
having the lion’s share in North America pet food market. Asia-Pacific is
expected to be the fastest growing pet food market during the forecast period.
Specialized pet food stores and hypermarkets are experiencing a significant
growth in the region. China, South Korea, and India are the countries which are
driving Asia Pacific pet food market.
Key takeaways
• In 2017, dog pet food had the largest share of in the global pet food market.
• The online stores are expected to grow at a CAGR of 5.6% during the forecast
period.