Report ID: SQMIG30K2044
Report ID:
SQMIG30K2044 |
Region:
Global |
Published Date: June, 2024
Pages:
157
|
Tables:
89 |
Figures:
76
North America is the largest region in the global market and the region is anticipated to hold a market share of about 41.6% and is expected to lead the market throughout the forecast period. One of the key factors in the region's supremacy is the high rate of pet adoption in American households. A poll by the American Pet Products Association (APPA) found that around 85 million American families, or 67% of all households in the country, have pets. The adoption of pet humanization and the favorable public perception of it in North America are fostering market expansion for wholesome pet food products.
On the other hand, Europe is the fastest growing region in the pet food market. The trend of treating pets as individuals is driving high spending on safe and sustainable pet food in Europe. Furthermore, pet owners in Europe desire greater openness in the components of pet food products. Germany and France are the next two biggest markets in Europe after the U.K. 72% of pet owners in the United Kingdom consider themselves to be pet parents, according to Mars Petcare's State of the Pet Nation study. The high consumption of pet food is partly influenced by the preference of U.K. pet owners for premium and natural pet food products.
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Report ID: SQMIG30K2044