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The pet food market can be segmented on the basis of pet type, product type, ingredients and price. On the basis of pet type, market can be segmented into dog food, cat food and other pet food, while on the basis of product type, the market can be classified into wet food, dry food and treats & mixers. The market can be distinguished into natural and nonnatural food, on the basis of ingredients. However, on the basis of price, the food market can be segmented into economy pet food, mid-priced pet food and premium pet food. Among all the classifications, segmentation on the basis of pet type is most popular, with dog food dominating the market.
The major growth drivers for the global pet food market are: an increase in the pet population, pet humanization, health conscious consumers, upsurge in urbanization and personal disposable income. Despite the market is governed by various growth drivers, there are certain challenges faced by the market such as pet obesity, grinding challenge, supply chain challenge and nutritional sustainability. Some of the recent trends in the market include the rise in social awareness among consumers, sustainable packaging, cooked pet food and exotic ingredients.
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