DUBLIN, June 22, 2015 /PRNewswire/ --
Research and Markets(http://www.researchandmarkets.com/research/9xs8fx/pet_food_market) has announced the addition of the "Pet Food Market - Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" report to their offering.
The pet food market in Asia Pacific has been segmented into dog food, cat food and others in terms of pet type. The others segment include bird food, fish food, reptiles and other small animals. The dog food segment held the largest market share in the pet food market in Asia Pacific. The dog food segment is expected to reach USD 6,554.2 million by 2020. Increasing trend of nuclear family coupled with demand for companionship are some of the major factors fueling the demand for pet food in Asia Pacific. In addition, increasing awareness about pet health is also expected to boost the demand in this segment. However, the others segment is expected to be the fastest growing segment, growing at a CAGR of 2.7% from 2014 to 2020. Smaller dwelling places and increasing demand for small pets are the major factors boosting the demand for pet food in others segment.
By food type, the pet food market has been segmented into dry food, wet food/ canned food, nutritious food, snacks/treats and others. The others segment includes raw meat and other household materials used as pet food. The dry food segment held the largest market share valued at USD 3,725.4 million in 2013. Ease of handling and lower prices are some of the major factors fueling the demand for dry pet food in Asia Pacific. However, the nutritious food segment is the fastest growing segment and is expected to reach USD 361.3 million by 2020. Wet food/ canned food is also one of the major segments for pet food in Asia Pacific valued at 75.09 kg million in 2013. The average selling price of snacks/treats was valued the highest at USD 25.60 in 2013 and is expected to reach USD 25.84 by 2020.
India, China, Japan, Australia and South Korea are some of the major markets for pet food in Asia Pacific. The pet food market in Australia was valued at 157.3 kg million in 2013 and is expected to grow at a CAGR of 0.9% from 2014 to 2020. Nutritious food segment is the fastest growing segment for pet food in Australia growing at a CAGR of 1.6% from 2014 to 2020. However, the dry food segment held the largest market share in pet food market in Australia. However, India is one of the fastest growing markets for pet food, growing at a CAGR of 12.5% from 2014 to 2020. Increasing trend for nuclear family and demand for companionship are the major factors fueling the demand for pet food in India.
The pet food market in Asia Pacific is currently dominated by major brands operating globally. However, the local players are still to enter the market, owing to brand loyalty of existing consumers. The major players operating in pet food market in Asia Pacific includes Nestle S.A., Mars Inc., Procter & Gamble Co. and Colgate-Palmolive Co. among others.
Scope of the Report
Asia Pacific Pet Food Market: By Country
- South Korea
- Rest of Asia Pacific
The report provides a cross-sectional analysis of all the below segments with respect to the above mentioned countries.
Asia Pacific Pet Food Market: By Pet Type
- Dog Food
- Cat Food
Asia Pacific Pet Food Market: By Food Type
- Dry Food
- Wet Food/ Canned Food
- Nutritious Food
For more information visit http://www.researchandmarkets.com/research/9xs8fx/pet_food_market
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SOURCE Research and Markets