According to a market report, published by Sheer Analytics and Insights, the total Asia-Pacific pet food market was valued at $19.2 billion in 2021 and it is expected to reach $44.3 billion at a CAGR of 7.90% through the forecast period. Pet food provides standard nutritional value to domestic animal’s daily life. Along with these, the demand for pet medicines, food, and accessories is increasing, which is projected to drive the market growth over the forecast period across the Asia-Pacific region. Pet foods are easily digestible for domestic animals. The Pet population is increasing across the Asia-Pacific region due to pet humanization has fueled the pet food market. Furthermore, the perception of consumers has been changing towards the health of their domestic animals, which has helped the market to enhance in the region. Various cultures are living in the Asia-Pacific regions, which is leading to different buying patterns in the market. Hence, this pattern is helping the growth of the pet food market. However, in the Asia-Pacific region, the pet food market industry in China is estimated to become the fastest growing industry across the region.
Request a Sample Copy of Report: https://www.sheeranalyticsandinsights.com/request-sample/asia-pacific-pet-food-market-21
The major factors such as awareness of the benefits of best quality pet food, concern for the health of domestic animals, and increasing population of various pets have driven the growth of the market in the Asia-Pacific region. Moreover, governments from several countries across the region have imposed strict regulation acts on the costs of raw materials and animal feed products that might hamper the market growth. However, countries from the Asia-Pacific region have emerged as the most potential market for pet food products. Additionally, the pet food industries are quickly developing in the region due to urbanization. The major countries such as China and Japan, which are dominating the pet food market over the last few years, and these two countries are expected to witness a significant market growth during the forecast period. Moreover, the Asia-Pacific region has witnessed a rising demand for high-quality, organic, healthy, and nutritious pet food instead of normal pet foods in the market. Along with these, the region has observed an increasing adaption of cats and dogs as a pet which is anticipated to gain significant market share.
Rabies is a severe disease humans get from animals such as dogs and cats. This kind of disease generally reduces the growth of the pet food market, because it decreases the adaption level of domestic animals and pets. Thus, many people do not keep pets for this reason, which can further hinder the pet food market. Manufacturers of pet foods are trying to focus on entering the premium food products categories, to improve their profit margin, which would lead the pet food market through the upcoming years.
According to the study, key players dominating the Asia-Pacific pet food market are Purina Petcare Company (U.S), JM Smucker Company (U.S), Mars Incorporated (U.S), Yantai China Pet Food Company Limited (China), Blue Buffalo Pet Products (U.S), Mars Incorporated Company (U.S), Champion Petfoods LP (Canada), United Pet Groupd Inc (U.S), Nisshin Seifun Group Company (Japan), Nippon Formula Feed Manufacturing Company (Japan), Indian Broiler Group Company (India), Unicharm Company (Japan), CJ CheilJedang Company (South Korea), Bridge Petcare Company Limited (China), Royal Canin Company Limited (China), Nutriara Alimentos Company Limited (Brazil), Maruha Nichiro Fishing Company (Japan), Big Heart Pet Brands Food Company (U.S), Diamond Pet Foods Company (U.S), Heristo AG Pet Food Company (Germany), Colgate-Palmolive Production Company (U.S), among others.
The Asia-Pacific Pet Food Market Has Been Segmented Into:
The Asia-Pacific Pet Food Market – By Pet Type:
- Cat
- Dog
- And Other Animals
The Asia-Pacific Pet Food Market – By Product Type:
- Dry Pet Foods
- Wet Pet Foods
- Snacks
- Other Products
The Asia-Pacific Pet Food Market – By Distributional Channel:
- Online Shopping
- Supermarket/Hypermarket
- Specialized Pet Shops
- And Others
The Asia-Pacific Pet Food Market – By Countries:
- India
- China
- Japan
- South Korea
- North Korea
- Rest of Asian Countries
Browse The Full Report at https://www.sheeranalyticsandinsights.com/market-report-research/asia-pacific-pet-food-market-21
About Us
Sheer Analytics and Insights Private Limited is market research, consulting, and IT services company. We as a company believe in providing point to point data and its analysis with the combination of our human and automation integration. Sheer Analytics and Insights cover majorly eight industry verticals, including chemicals, life science, communications, and electronics, materials, consumer goods, defense, and BFSI sector.
Sheer Analytics believes in quality work and ensures that the product delivered to the client is meaningful for them. We publish reports based on our advanced analytics reports, which are generated with the help of our in-house databases, external databases, and artificial intelligence integration processes. We stand out from other market research companies in terms of integrating facts with meaningful insights for forecasting.
Contact:
Abhigyan Sengupta
Sheer Analytics and Insights
Email: query@sheeranalyticsandinsights.com
+1-414-240-5010
No comments:
Post a Comment