A recent report published by Infinium Global Research on the organic pet food market provides an in-depth analysis of segments and sub-segments in the global as well as a regional organic pet food market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional organic pet food market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global organic pet food market. According to the report, the global organic pet food market is projected to grow at a CAGR of 8.70% over the forecast period of 2020-2026.
The global organic pet food market is projected to grow with a CAGR of 8.70% during 2020-2026. The trend toward natural, organic pet products is nothing new in the developed countries, especially as product lines both big and small respond to organic pet industry trends. The organic pet food industry trending toward younger, informed consumers as the pet food market’s consumer landscape is changing. Organic pet food contains a more nutritional value and reduces the instances of allergies, arthritis, skin ailments, digestive disorders, obesity, and some other illnesses of the pets. In addition, organic pet food improves the fertility, immunity power, overall health, and longevity of the pets. In the wake of COVID-19, there has been a surge in pet adoption. This surge has played out across pet types, very much including dogs, cats, and other types of pets as many consumers are now working from home and self-isolating, and this change in lifestyle has inspired households to adopt pets. With the help of coronavirus-related appeals in March, animal shelters around the United States have seen a substantial uptick in dog and cat foster situations and adoptions. For instance, the ASPCA saw a 70% increase in fosters out of their New York City and Los Angeles programs, and some shelters have been able to completely empty their kennels of adoptable pets. Therefore, the increased ownership rates have significantly elevated the sales of pet food including, organic pet foods over the globe. Moreover, the COVID-19 outbreak and announcement of lockdown had caused panic food buying among the pet owners, which has increased the sales of organic pet food in the first quarter of 2020.
Growing pet ownership and rising awareness about pet health are the primary growth factors for the global organic pet food market. According to the 2019-2020 National Pet Owners Survey conducted by the American Pet Products Association, 67% of U.S. households, or about 85 million families, own a pet. Additionally, over the upcoming years, an increase in pet ownership will be witnesses, largely driven by the younger population in the country. Furthermore, the rising trend of humanization of pets drives global sales of organic pet food. Broader ranges of people in the United States, China, Europe, and other regions now consider pets to be members of their family. Moreover, they are also spending heavily on their pets. However, the high cost of organic pet food products to have a negative impact on the market growth. Moreover, online sales channels create beneficial opportunities for organic pet food manufacturers. As consumers are increasingly looking for convenience and comfort, the amount of consumers who shop online is forecasted to grow significantly. This trend is also expected to propel the organic pet food industry over the globe as a large number of pet owners are millennial consumers who prefer buying online.
Geographically, The North American region dominates the global organic pet food market owing to the high disposable income and increasing trend of humanization of pets that have significantly influenced the growth of the organic pet food market in the region. Furthermore, Europe is the second-largest market for organic pet food owing to the evolving lifestyle and increasing trend of ownership of pets in this region. Moreover, the Asia Pacific organic pet food market is expected to grow with the fastest CAGR over the forecast period owing to the nutritional benefits associated with organic food. Increasing disposable income, growing urbanization is primarily fuelling the Asia Pacific organic pet food market. Keeping pets have become a trend owing to an increase in nuclear families. Factors such as demand for nutritional food products for pets are resulting in the optimistic growth of the Asia Pacific organic pet food market.
The report on the global organic pet food market covers segments such as type, end-users, and distribution channels. On the basis of type, the sub-markets include dry organic pet food and wet organic pet food. On the basis of end-users, the sub-markets include bird, cat, dog, fish, and others. On the basis of distribution channels, the sub-markets include hypermarkets/supermarkets, pet shops, online stores, and retail stores.
The report provides profiles of the companies in the market such as Mars Petcare Inc., Nestlé Purina PetCare, Merrick Pet Care, Inc., C.J. Foods, BrightPet Nutrition Group, Avian Organics, Evanger Dog & Cat Food Company, The Honest Kitchen, Harrison’s Bird Foods, and Newman’s Own, Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the organic pet food market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.