Press release
Pet Food Market is projected to expand at a CAGR of ~6%
A recent study published by Transparency Market Research on the pet food market includes global industry analysis and opportunity assessment for 2019-2029. Revenue generated from the global pet food market is estimated to be valued at ~US$ 97 Bn in 2019 and is projected to expand at a CAGR of ~6%, to reach US$ 168.3 Bn by 2029.
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Organic and Plant-based Food Products Gain Traction
Pet owners, especially those who are vegetarian prefer feeding plant-based or vegan food to their pets. Moreover, pet owners often groom and feed pets with food that has adequate amount of nutrients in them. Consumers have become more conscious than before about their pet food and ingredients incorporated in them.
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Natural and organic options are becoming popular. Pet owners often look for similar attributes in pet food. Customers expect pet food to be made without artificial colors, preservatives or flavors, synthetic hormones, toxic pesticides or antibiotics.
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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