The dog food business is a lucrative business since two decades. With the wave of urbanization in the past 10 years along with the rising trend of nuclear families, more people are looking forward to have a dog for companion and security. With this relevance, pet sitters are also growing at a cumulative rate. The need to keep well-bred dogs is now becoming a global trend and with the rise in disposable income, people are now willing to spend more on nutrition value for dogs.
The market is highly driven by growing number of pet owners, rise in rate of adoption, availability of pet sitters and availability of food for various type of breeds. In addition, the rise in number of vets across the globe act as a catalyst for stimulating the demand for dog foods. Apart, new market entrants in form of retailers have resulted in lucrative business opportunities in terms of sale. The market is positively affected by frequent visits of customers for dog food/s. However, low awareness in dog owners, negligence towards dog health and availability of cheap substitutes that result in skin allergies might impede the market growth in the near future.
The sales channel operating under the dog food market is inclusive of retail and wholesale suppliers, supermarket and hypermarket. The type of food suitable for dogs include products made out of chicken, lamb, pork, fish and meat.
North America dominates the dog food market in terms of demand and market volume. In addition, the market also receive substantial rate of demand pertaining to dog food every year. Dog selling being a lucrative business in the United States accounts upto nearly 15-20%. Apart, pet sitters with duties such as looking after well-being of the dog in absence of owners have gained a considerable demand in the overall market. The pet food manufacturing business is an ongoing business with a steady growth and manufacturers have now adopted to a versatile form of food production that is suitable for various breeds of dogs.
Europe and Asia-Pacific regions have an established market dealing primarily in pet food & care. Presence of a large population having dog as a pet is expected to stimulate the market demand in near future. Joint ventures and retail chains account for a greater share in the business.
The prominent players mentioned in the dog food market include Nestle Purina Pet Care, Hills Pet Nutrition Inc, Wellpet LLC and American Group Mars.