North America Pet food market has been estimated at USD 26.43 Billion in 2016 and is projected to reach USD 31.64 Billion by 2021, at a CAGR of 3.67%
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Market Data Forecast recently published a report on the “North America Pet Food Market" which estimates the market which was worth $26.43 billion in 2016 and is expected to be growing at a CAGR of 3.67%, to reach $31.64 billion by 2021 during the forecast period from 2016 to 2021.
The Food and Drug Administration (FDA) regulates that can of cat food, bag of dog food, or box of dog treats or snacks in your pantry. The FDA’s regulation of pet food is similar to that for other animal foods.
The Federal Food, Drug, and Cosmetic Act (FFDCA) requires that all animal foods, like human foods, be safe to eat, produced under sanitary conditions, contain no harmful substances, and be truthfully labeled.
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There is no requirement that pet food products have pre-market approval by the FDA. However, FDA ensures that the ingredients used in pet food are safe and have an appropriate function in the pet food.
Many ingredients such as meat, poultry and grains are considered safe and do not require pre-market approval. Other substances such as sources of minerals, vitamins or other nutrients, flavorings, preservatives, or processing aids may be generally recognized.
The DROC Analysis contains some of the factors that have major effects on the market dynamics be it positive or negative. Due to the concern for the pets by the pet owners and changing perception of consumer towards pet health is major reason behind the growth of the pet food market.
Recent rise in the concept of pet humanization, where the pets are being treated with increased care and hygiene is also helping to fuel the demand for pet food products. Pet allergies and rise in over eating and lack of physical exercise, due to which obesity in pet is increasing is constraining the market growth because, the pet owners are preferring other healthy substitutes.
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The market is segmented based on ingredient type and animal type and is studied for a deep-level understanding of the Pet Food market. Each sub segment is accompanied with Market Size Estimations and Y-o-Y Forecasts as well.
By ingredient type
- Animal Derivatives
- Fish derivatives
- Fruits & Vegetables
- Cereals & Cereal by-products
- Fats & Oils
- Vitamins & Minerals
By animal type
- Other animals
Geographically North America market for is Pet Food is segmented into US, Mexico, Canada and Others. Pet market is being driven mostly by the North American Region which has the largest market share.
North American market is being mainly driven by the US primarily due to sluggish economic growth.
The North America pet food industry is highly concentrated with ten major players together accounting for more than 50% of the market share and remaining market share distributed among the large number of small manufactures. Mars, Inc., Del Monte Foods, Hills Pet Nutrition, INC, Unicharm Corporation, Nippon Formula Feed Manufacturing Company LTD, Pet Center, Incorporated (PCI), Nestle Purina Pet Care, Nisshin Saifun Group INC.
Natural Dog Food Company, Halo, Purely for Pets, Marukan CO. LTD., Nutrena, and Spectrum Brands, INC.
are the major companies in the market.
Scope of the North America Pet Food Market:
- Regional and country-level analysis that provides an innate perspective of USA and Canada Market to that of the North American region
- To detect major focus areas of industrial growth Segment-level analysis on basis of type, therapeutics, end-user along with market size forecasts and y-o-y estimations are provided
- Detailed explanation of major drivers, restraints, opportunities, and challenges (DROC) that affect the market and impact the ever-shifting market dynamics
- PESTLE and Porter’s Five Forces Analyses that examine the macro& micro environmental factors such as political influence, technological prowess, industry rivalry to name a few.
- An extensive listing of major market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview to study and sustain the market environment
- mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies all rolled out into Competitive landscape
- Expertly devised Market Outlook comprising the Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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