Due to the growing demand for pet food, the global pet food market is expected to expand at a CAGR of 4.2 percent from 2011 to 2017.
Transparency Market Research has released a new market study titled ‘Pet Food Market – Global Scenario, Trends, Industry Analysis, Size, Share And Forecast 2011 – 2017’ that looks at the global pet food market, reports industrytoday.
Due to an increase in disposable income there is a growing number of people purchasing pets. Pet owners were found to be increasingly concerned about pet health and providing pets with nutritious food, which directly benefits the global pet food market.
The purchasing decisions they make are based on factors such as high nutrition content and other factors that benefit the health of the pets. This is expected to drive the global pet food market.
The report states that dry pet food is the largest segment of the market, accounting for 39 percent of the global pet food market. The snacks/treats segment follows, accounting for 21 percent of the global pet food market