Pet Food Market Forecast Report 2020 – 2027 – Top Key Players Analysis
The accelerating demand for premium pet food products and the increasing emphasis on pet’s health are the major factors that are responsible for the growth of the market in the coming years.
The primary factors driving the growth of the pet food market include the increasing adoption rate of pets and the strong demand for premium pet foods. The rising disposable income of the middle-class population has resulted in an increase in the total spending capacity on pets. With the emerging trend of keeping a pet as a companion of the owners and the growing health concerns of the pets, the pet owners are looking for healthy pet food options to maintain the health of their animals. As per the Pet Food Industry, approximately 95% of the pet owners assume their pets as a part of their family, thus focusing on the importance of the quality in the pet food. The fundamental shift in the consumer’s preference to opt for vegan and grain-free pet food products will further open new doors for the growth of the pet food market size in the coming years.
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Last Update : Jul 17, 2020
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