Petfood Industry - March 2018 - 38
38 | www.PetfoodIndustry.com
What's driving global pet
food market growth?
The global pet food market continues to grow, with developing
markets making great strides while more mature markets show
much slower growth.
Global pet food market growth is being
driven by two primary trends: humanization
and premiumization. These two factors color
the data across nearly all regions - from
North America, an incredibly mature market
with slow growth, to Asia-Pacific, a developing market seeing more growth than any
Similar trends provide
different outcomes for
For North America, particularly the US,
humanization and premiumization are
holding up growth when other factors have
seemingly lost their effectiveness. Pet owners
are already buying as much pet food as they
The global pet market presents plenty of
opportunities, as well as challenges, for the
pet food industry for the next several years.
David Porras, Fotolia.com and anueing, Fotolia.com