Fresh Pet Food Market to Reach USD 25.5 Billion by 2031, Growing at 10% CAGR | SkyQuest Technology
Westford, June 26, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Global fresh pet food market will attain a value of USD 25.5 Billion by 2031, with a CAGR of 10% during the forecast period (2024-2031). Fresh pet foods today are available in low-calories that are specially formulated to aid intestinal balance as well as renal function, mainly for aged dogs. They also contain prebiotics that enhance the entire body health. Hence, pet owners across the globe are preferring pet foods that essentially improve health and not just life-span. Food makers are focusing to personalize product & formula to reduce the increasing obesity concern among dogs. Like human food, pet foods are also now manufactured with no artificial ingredients. Also, producers are highly focusing on sustainability, in packaging to attract more consumer base.
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Browse in-depth TOC on the “Fresh Pet Food Market”
Pages – 198
Tables – 146
Figures – 72
Fresh Pet Food Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $11.9 Billion |
| Estimated Value by 2031 | $25.5 Billion |
| Growth Rate | Poised to grow at a CAGR of 10% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Pet Type, Product Type, Ingredients, Sales Channel |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Increasing focus on nutritional value and quality ingredients for pet animals |
| Key Market Opportunities | Numerous sustainability benefits to attract more number of pet owners |
| Key Market Drivers | Growing emphasis on improving digestion and overall health of pet animals |
Increasing Number of Dog Owners and Growing Willingness of Owners to Feed Nutritious Food to their Pets to Drive the Market Share
The Dog segment, among others, has witnessed a major share in the past years and is anticipated to rise considerably over the coming years. The number of pet owners is also increasing worldwide and they are highly inclined towards providing highly nutritious foods to improve overall performance of their dogs. In the past five years, food producers are launching more pet food products with key focus on personalization. This is again expected to boost the dog segment growth.
Growing Awareness of Dry Pet Food among Pet Owners to Boost the Growth
The Dry Pet Food is the leading segment among others and is poised to grow in the coming years as well. The awareness of dry pet food is significantly increasing globally and also most top food makers are aiming on investment to gain leadership in the industry. All these factors, along with rising number of pet food producers are anticipated to support the segment growth in the near future.
Increased Consumer Spending and Availability of Multiple Fresh Pet Foods to Help North America Continue Dominance
North America is expected to lead the Global Fresh Pet Food Market owing to increased pet ownership in the region and higher consumer spending on their pet foods added with nutrition. This is supported with high disposable income of consumers who not only wish to spend on better digestive and nutritious health of their pets but also want to increase their lives. Consumers can easily avail numerous types of pet foods, which again aids the market growth in North America. Among others, the United States and Canada, dominate the region for having the maximum number of Fresh Pet Food companies like Nestlé Purina PetCare, Mars Petcare Inc., Hill’s Pet Nutrition, Champion Petfoods, and FirstMate Pet Foods. These companies are spending to enhance pet digestion and overall health, which again supports the Fresh Pet Food Market in the region. Furthermore, Asia Pacific to be the fastest growing region owing to factors like growing pet ownership and increasing spending power in the region. The past years have seen significant growth in pet ownership of different animals, mainly for the elderly people.
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FRESH PET FOOD Market Insight
Drivers:
- Growing awareness of nutrition and pet health
- Rise of e-commerce in Sales of Pet Foods
- Humanization of pets in most major countries of Asia Pacific
Restraints:
- High Price of Fresh Pet Foods, which may not be affordable by every consumer
- Side-effects of Raw Pet Foods
- Low shelf-life of Pet Foods
Prominent Players in FRESH PET FOOD Market
The following are the Top FRESH PET FOOD Companies
- JustFoodForDogs LLC
- NomNomNow Inc
- The Farmer’s Dog Inc
- Whitebridge Pet Brands LLC
- Freshpet
- Evermore
- Xiaoxianliang
- Market Fresh Pet Foods
- Grocery Pup
- Better Choice Company Inc.
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Key Questions Answered in Global FRESH PET FOOD Market Report
- What is the estimated market value of Fresh Pet Food by SkyQuest?
- Which are the key market drivers in the global Fresh Pet Food Market?
- What are the strategies adopted by the Market Players to enhance Pet Food Quality?
This report provides the following insights:
Analysis of key drivers (growing pet humanization in the major Asia Pacific countries, growing consumer spending, increasing number of pet owners), restraints (negative impacts of raw pet food products, strict regulation mainly in the developed countries, low shelf-life of pet foods), opportunities (growing investments for improved pet foods, focus on sustainability in pet food packaging), and challenges (supply chain issues due to low supply of packaging materials, labor scarcity leading to production issues) influencing the growth of FRESH PET FOOD market
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the FRESH PET FOOD market
Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the FRESH PET FOOD market
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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