Published Date : Jul 26, 2016
Nestle and the owner of Bob Martin were in the news recently as Nestlé’s pet food department agreed to merge with the later that makes food for the dogs. The merger agreement is likely to raise the competition level for other players in the global pet food market. Leading pet food manufacturers would look at this news as a motivation. Looking at this merger agreement, many other leading manufacturers of pet food are expected to acquire the startups. This will give the startups an opportunity to introduce their products.
On the other hand, the leading players aim to increase their share to maintain their dominance in the mainstream. Such mergers and acquisitions are expected to boost the global pet food market in the long run. Pets worldwide are relishing better quality food, multiple studies show.
The spread of awareness of maintaining a healthy diet has helped people to add healthy food to their schedule. The availability of many healthy diets has benefited the health-conscious people across the globe. Today, even the pets can cherish healthy food. The availability of healthy pet food at hypermarkets, supermarkets, online stores, and dollar stores has boosted the global pet food market.
Currently, the global pet food market is registering a rapid growth and is expected to be one of the most lucrative markets in the global food and beverages industry.
As organic food is gaining impetus at the global front, manufacturers are offering many organic food options even for the pets. In the global pet food market, the sales of natural food and organic food are expected to grow in the years to come.
The demand for dry pet food, wet food, canned food, nutritious food, and snacks and treats is increasing consistently across the globe. The sale of dog food is expected to be higher than the sale of cat food. Thus, the dog food segment is a dominant segment in the global pet food market.
The increasing number of pet owners is credited to be the biggest driving factor for the global pet food market. Increasing health concerns of pets has propelled the demand for organic pet food.