PUNE, India, September 27, 2016 /PRNewswire/ --
The global pet care market 2016-2020 report says the growing
demand for fortified pet food is a recent trend gaining traction in
the market. Many health problems and diseases such as skin
allergies, arthritis, brain aging, digestive disorders, and obesity
are common among pets such as dogs, cats, and horses. This can
create serious concerns for pet owners. Increasing health
consciousness among pet owners has given rise to health-driven food
options for pets such as fortified food products, nutraceuticals,
and functional food products. A growing number of pet products are
being promoted as products containing added vitamins and minerals,
antioxidants, all-natural ingredients, and no preservatives,
artificial colors, or flavors.
Complete report on pet care market spread across 78 pages,
analyzing 5 major companies and providing 37 data exhibits now
available at
http://www.sandlerresearch.org/global-pet-care-market-2016-2020.html.
The analysts forecast global pet care market to grow at a CAGR
of 4.72% during the period 2016-2020. According to the report, high
profit margins for manufacturers are an important driver
contributing to this market's growth. Pet care manufacturers are
leveraging on the growing number of pet owners and their
willingness to pay for premium products by offering a wide range of
innovative, specialized, and premium products. Pet retail stores
are estimated to have gross profit margins of 35%-45%. Pet food
manufacturers are experiencing high profitability as pet owners
continue to purchase special food formulations to maintain the
health and well-being of their pets.
North America will be the
highest revenue-generating region in the pet care market and is
anticipated to occupy more than 40% of the total market share. Much
of the market's growth can be attributed to the rising pet
ownership and increased spending on premium pet care products like
food and accessories. Moreover, the consumers in this region treat
their pets as family members and are willing to spend for them
liberally.
The global pet care market is extremely competitive, where
several vendors compete in terms of product differentiation,
product portfolios, quality, and pricing. Many vendors in the
market are extending their businesses to emerging markets such as
Central and South America, and
APAC. The intense competition prevailing in the market will lead to
consolidation among market vendors in the coming years. The growing
demand for pet food that is grain-free, organic, natural, and with
low-glycemic content are gaining popularity among pet owners, which
has pushed the manufacturers to formulate new products to meet
consumer requirements.
The following companies are the key players in the global pet
care market: Ancol Pet Products, Beaphar, JM Smucker, Mars, and
Nestlé Purina. Other prominent vendors in the market are: Aller
Petfood, Barking Heads and Meowing Heads, BHJ Pet Food, Blue
Buffalo, Bob Martin, BOSHEL, Chelsea
Dogs, Diamond Pet Foods, Earthwhile Endeavors, Ferplast, Inaba
Petfood, Just for Pets, Oster, Pet Brands, Pettex, Platinum Pets,
Rolf C Hagen, Rosewood Pet Products, Tetra, The Hartz Mountain,
Vitakraft, Yantai China Pet Foods. Order a copy of Global Pet Care
Market 2016-2020 report @
http://www.sandlerresearch.org/purchase?rname=59534.
Global Pet Care Market 2016-2020, has been prepared based on an
in-depth market analysis with inputs from industry experts. To
calculate the market size, the report considers the revenue
generated through the retail sales of pet food and pet grooming
products to individual consumers.
Another related report is Global Pet Dietary Supplements
Market 2016-2020, one of the key trends for market growth will
be increasing number of patents in ingredients market. The global
pet dietary supplements market has been witnessing an increasing
number of pet dietary ingredients being patented in recent times.
Pet dietary supplement manufacturers are using patented
technologies to better formulate their products. Browse complete
report at
http://www.sandlerresearch.org/global-pet-dietary-supplements-market-2016-2020.html.
Explore other new reports on Consumer Goods Market @
http://www.sandlerresearch.org/market-research/consumer-goods.
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