Pet food refers to food for domesticated animals formulated according to their nutritional needs. It consists of animal and vegetable fats, and plant ingredients, including peas, corn, cereals, grain, barley, etc. In addition to this, a number of dietary fibres are also used in pet food, such as dried chicory root, powdered cellulose, inulin and dried beet pulp. According to the global pet food market report by IMARC Group estimates that the market was around US$ 94 Billion in 2017. The report further anticipates the market to cross US$ 122 Billion by 2023, at a projected CAGR of 4.5% over the forecast period.

Global Pet Food Market Drivers/Constraints:

• The major factor influencing the growth of the global pet food market is the increasing awareness among the consumers regarding the requirement of the proper nutrients for their pet’s health.
• The rising demand for pet food consisting of organic ingredients and less fillers are creating a market for organic pet food which is free from pesticides, artificial flavours or genetically modified organisms. This is leading to major changes in product manufacturing and resourcing of ethically-viable products.
• The continual rise in the number of pet owners along with the growing pet humanisation trend, where pets are taken care of as a family member, are the major factors contributing to the demand for pet food.
• However, allergies caused by specific food products is hampering the market growth. Moreover, the shift towards feeding rendered meat to the pets is also a major deterrent for the pet food market.

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