Global Pet Food Market is Forecasted to Reach USD 74.8 Billion by 2017: Transparency Market Research
ALBANY, New York, August 10, 2012 /PRNewswire/ --
According to a new market report published by Transparency Market Research ( http://www.transparencymarketresearch.com ) " Pet Food Market - Global Industry Size, Market Share, Trends, Analysis and Forecast, 2011 - 2017 , " the global pet food market was worth USD 58.6 billion in 2011 and is expected to reach the value of USD 74.8 billion in 2017, growing at a CAGR of 4.2% from 2011 to 2017. North America is expected to remain the largest regional segment for the pet food industry in terms of revenue generation, accounting for around 40% of the total revenue. Asia Pacific will be the fastest growing segment due to growing trend and increasing importance of pets in homes.
North America market for pet foods was valued at USD 21.7 billion in 2011 and expected to witness growth in 2012 and reach the value of USD 22.4 billion. With number of market drivers and product innovations in pet foods, the North America pet foods market is forecasted to reach USD 26.6 billion in 2017 at the CAGR of 3.5% from 2011 to 2017. Europe market being the second largest consumer of pet foods is expected to grow at a CAGR of 4.4% from 2011 to 2017.
Worldwide market for pet foods is segmented as dry food, wet/ canned food, nutritious food, snacks, and others. Dry food is the largest segment of pet foods market accounting for around 39% of the total market share. Snacks/treats are the second largest consumed pet food accounting for about 21% of the global market share. Wet/ canned food and nutritious food are the smaller pet food segment accounting for 7% and 3% market shares respectively.
The global market for pet foods is expected to be driven by number of factors like increase in disposable incomes of families, changing lifestyle, growing trend of having pets in homes, growing trend of nuclear families, among others.
All American Pet Company Inc. Files for Patent Protection for Its Dog Nutritional Food Bars
By: All American Pet Company, Inc. via Marketwire News Releases
BEVERLY HILLS, CA -- (Marketwire) -- 05/12/10 -- All American Pet Company, Inc. (PINKSHEETS: AAPT), makers of super premium dog food brands Grrr-nola? Natural Dog Food, the Grrr-nola? Natural Food Bar, and Bow Wow Breakfast?, announces it has completed its filing with the US Patent Office for its "Dog nutritional Food Bars," which are completely portable and self contained. Each 4 ounce super premium bar provides an 8 ounce meal equivalent and also serves as a healthy snack when served in portioned amounts.
Barry Schwartz, CEO of All American Pet, stated, "With the introduction of our Dog Nutritional Bars we are again taking the first mover position in a large niche market opportunity as we did when we introduced dog food packaged for a Breakfast Feeding -- The Most Important Meal of the Day." Mr. Schwartz added, "There has never been an integrated, continuous processing platform that utilizes both human food quality extruders and pressurized mechanical forming machines in-line to produce a commercially viable premium semi-moist shaped dog food product that will meet AAFCO and FDA requirements and regulations."