Pet Care Market
The pet care industry is a booming industry. Pet food market [http://www.marketresearchreports.biz/analysis/131454] holds a major share in the pet care industry. Many factors are responsible for the growth of this industry. Due to changing family patterns and aging population, people tend to keep domestic pets. Mostly, people tend to keep cats or dogs as pets. However, a few also prefer to keep other animals as pets such as house rabbits, guinea pigs, birds, hamsters, etc. Pet owners are attached to their pets and pets are often considered as a part of the family.
This has made them the focal point of attention in households all over the world. It is said that in the U.S. at least 60 percent of the households have a pet. Due to the focus on pets in households, owners tend to give utmost attention to pet care. They tend to provide their pets with best of the nutrition, recreation, and medical facilities. It was noted that during the global recession period of 2008, the pet care market was one of the least affected segment. This shows that owner would rather save in other expenditures, than compromise with the pet care.
Pet Food Types
Pet owners pay a lot of attention to the food they provide to their pets. According to the market analysts, the global pet food market will become nearly USD 96 billion by the year 2017. In the pet food industry cat and dog food takes up the major chunk. Apart from cat and dog food, there is also fish food and bird food. The practice of raw feeding is considered by many as risky, because it can increase the chance of food-borne illnesses. Due to this factor consumers mostly tend to buy packaged food for their pets. Packaged pet food is convenient for the pet owners. There are automatic pet food dispensers available in the market, which helps to feed the pet when the owners are away from home.
Dog food comes in dry form or wet form. The dry form is popularly known as kibble, while the wet form is also known as canned form. Cat food is generally formulated, particularly with amino acid taurine. Almost 80% of pet owners that keep fish as a pet use flake, tablet, or pellet form of food which is commercially available. A vet is sometimes consulted to select the appropriate type of food for the pet to maintain its health.
Global Pet Food Industry
The pet food industry by food type is segmented into dry food and wet food which are two major sectors. It also has two minor segments which include nutritious food and snacks or treats. The geographic coverage of this market is global, but some of the major markets include U.S., Australia, and New Zealand. However, this market is dominated by the European Union. This zone also displays an increasing demand for health-centric pet treats and other products across the various pet age groups right from puppies to older pets that have compromised mobility.
Research shows that the area Asia-Pacific will soon become one of the fastest growing markets in pet food in the world with a growth rate of 9 percent till 2017. Along with the pet food market it is forecasted that other segments such as pet healthcare, pet toys, pet clothing and accessories will also show an upward growth graph. However, in countries such as India, China, and Brazil pet owners usually tend to buy pet food or products which offer value for money, rather than focusing on the best available products in the market.
There is a growing awareness about pet care and how organic pet food and green pet product affect a pet’s health. Due to this reason it is predicted that in future pet owners will invest in these products which will help to make this sector lucrative in the pet industry.
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