The culture of pet ownership is on the rise globally. Among all the pet types, dogs represent the most preferred pets. With an increase in dog ownership, the demand for dog food has also grown at a healthy pace. According to IMARC group, the global dog food market reached sales worth US$ 47.1 Billion in 2016, growing at a CAGR of around 4.2% during 2009-2016. This market is currently being driven by a number of factors - increasing disposable incomes, urbanisation, awareness about sustaining a healthy diet for their pets and a higher demand for premium products like Husse.
IMARC's latest study "Dog Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022" provides a detailed analysis on the global dog food market. The report has segmented the market on the basis of types and major geographies. Currently, dry dog food dominates the global dog food market with a share of around 66%. Dry dog food is followed by dog treats and wet dog food.
On a regional level, North America is currently the world's largest market for dog food accounting for around 38% of the total global sales. North America is followed by Western Europe, Asia-Pacific, Latin America, Eastern Europe and the Middle East and Africa. The report also presents a competitive landscape covering the major players operating in this market. At present, Mars represents the largest player followed by Nestle and Colgate-Palmolive.
Every year the PFMA commissions the well-respected Pet Population report, which looks in detail at pet ownership trends. In 2017 it is estimated that 12m (44% of) households have pets. The pet population stands at around 54 million in the UK.
Increasing the demand for healthy pet foods trends such as premiumisation and humanisation of pets have brought about a substantial rise in pet expenditures. As a result, dog owners are now turning towards high-quality food products as they are concerned about the well-being of their pets. The UK market with an Industry value of £3bn, serving over 12m households with pets.