The “Global Pet Care Market Size, Share & Analysis by Country, by Product Type (Dog Food, Cat Food, Other Pet Food, Cat Litter, Pet Healthcare, Pet Dietary Supplements and Others) Forecast and Opportunities, 2021-2025” report has been added to ResearchAndMarkets.com’s offering.
According to this report, pet care industry showed resilience during the pandemic and posted positive growth in 2020. Growth in pet ownership and pet adoption was observed in most of the developed economies owing to increased loneliness caused by nationwide lockdowns.
The global pet care market continues to be driven by pet humanization and premiumization in pet food as demand for human-grade pet food continues to rise and premium segments of pet food such as dog and cat treats are recording higher growth year on year.
Dog Treats Lead in New Product Launches in Pet Care:
Pet food exhibited a plethora of new launches with dog treats segment alone witnessed over 110 new launches over the last two years, the highest in global pet food market, followed by cat treats and wet cat food. Europe accounts for majority of these new launches as the region has a higher penetration of industrially produced pet food backed by strong per capita income and the region also tops in per capita expenditure on pets.
Mergers & Acquisitions:
The global pet care industry continues to see numbers of mergers and acquisitions and in the year 2021, Fressnapf Holding, one of Europe’s leading pet retailers acquired Danish pet store chain Petworld, which operates over 36 stores in Denmark as well as online shops in Denmark, Finland, Sweden, and Norway. The acquisition was completed by Fressnapf’s subsidiary Maxi Zoo Denmark, which happens to be leading pet store chain in the Scandinavian country with over 46 outlets.
Mars & Nestle Leads Global Pet Care:
Mars & Nestle continues to dominate the global pet food market, with a long and strong presence in developed as well as emerging…