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Pet Healthcare and Accessories combined valued at 42% of the total market of USA whereas it varies in between 20% - 28% in Canada and Mexico.
North America is the largest & the most dominant region which occupies the major share in the global pet care market. Pet care market consists of four segments- pet food, pet healthcare, pet accessories and pet grooming. Of all these segments, pet food is the only category which contributes the maximum revenue to the market. Pet food is a vast category in the pet care industry. Starting from 2011, pet food still holds its ground in the industry. Pet foods comes in different forms like dry, wet, treats/ snacks. Dog & cat foods are the most popular and demanding pet foods in the world.
According to the published report "North America, Latin America and Middle-East & Africa pet care market outlook, 2023" by Bonafide Research, the overall North America pet food market is projected to cross a revenue of more than USD 38 billion in the year 2023. The growth is prompted by huge number of human & pet population in the region and thus more adoption of pets. The trend of pet humanization in which pets are kept as a family member and given all the luxuries is boosting the market. Also, product premiumisation is a major driver of the pet food market. Many pet food companies have started to sell its pet foods in different categories like natural, grain-free, meat-free, meat-rich, etc. Since, pet owners have become aware of importance of pet health, they want to provide the best food for their loving companion. The label "natural", "grain-free", 'meat-free", etc attracts the consumer to purchase these products as they sound very healthy.
Not just North America, Latin America and Middle-East & Africa has also witnessed the growth of pet food market in their respective regions. In Middle East and Africa, spending on Pet Accessories, Healthcare and Grooming together contributes 15-20% of the total market. Pet Healthcare spending in Canada, Brazil, Mexico, Chile, Argentina is 1.41 Billion in 2017. On the other hand, these countries have spent just 0.68 Billion in Pet grooming. Grooming spend of these five countries together is less than the size of Pet accessories in Brazil and Canada.
In North America, USA is the biggest market in pet food and overall pet care market. Similarly, in Latin America, Brazil holds the top position in the pet food market. In last few years, South America has gone through major economic crisis, but now it is recovering from the crisis, spurred by private consumption and investment. The fast financial and social changes in these nations are prompting expanded urbanization, high wage development, and a solid stylish sense among the consumers. Pet care market size of brazil is double when compared with Canada. In the forecast period i.e., during 2018-23, the pet food market will rise on account of increasing number of pet adoption, increasing trend of premiumisation of pet food stuffs, growing middle class in various developing countries, humanization of pets, etc.
Major Companies
Major companies that foray in the pet care market of "North America, Latin America and Middle-East & Africa pet care market outlook, 2023" are Mars Incorporated, Nestle SA, Colgate-Palmolive, J M Smucker, Blue-Buffalo, United Pet Group Inc., Champion Pet Foods, PLB International, Scott Pet, Inc., Well Pet, Proveedora La Perla S.A. de C.V., Nicoluzzi Racoes, Raw Gold, Promeal Ltd., Heritage Foods Kenya Ltd., Lider Pet Food and De Haan Pet Food.
Keywords:
North America, pet, USA, pet food, natural, grain-free, dry, wet, premiumisation, pet accessories, pet healthcare, pet grooming, premium, Mexico, Canada, Latin America, Argentina, Brazil, Chile, dog, cat, Middle East, Africa, Mars Incorporated, Nestle, Colgate-Palmolive, Blue-Buffalo, J M Smucker.
According to the published report "North America, Latin America and Middle-East & Africa pet care market outlook, 2023" by Bonafide Research, the overall North America pet food market is projected to cross a revenue of more than USD 38 billion in the year 2023. The growth is prompted by huge number of human & pet population in the region and thus more adoption of pets. The trend of pet humanization in which pets are kept as a family member and given all the luxuries is boosting the market. Also, product premiumisation is a major driver of the pet food market. Many pet food companies have started to sell its pet foods in different categories like natural, grain-free, meat-free, meat-rich, etc. Since, pet owners have become aware of importance of pet health, they want to provide the best food for their loving companion. The label "natural", "grain-free", 'meat-free", etc attracts the consumer to purchase these products as they sound very healthy.
Not just North America, Latin America and Middle-East & Africa has also witnessed the growth of pet food market in their respective regions. In Middle East and Africa, spending on Pet Accessories, Healthcare and Grooming together contributes 15-20% of the total market. Pet Healthcare spending in Canada, Brazil, Mexico, Chile, Argentina is 1.41 Billion in 2017. On the other hand, these countries have spent just 0.68 Billion in Pet grooming. Grooming spend of these five countries together is less than the size of Pet accessories in Brazil and Canada.
In North America, USA is the biggest market in pet food and overall pet care market. Similarly, in Latin America, Brazil holds the top position in the pet food market. In last few years, South America has gone through major economic crisis, but now it is recovering from the crisis, spurred by private consumption and investment. The fast financial and social changes in these nations are prompting expanded urbanization, high wage development, and a solid stylish sense among the consumers. Pet care market size of brazil is double when compared with Canada. In the forecast period i.e., during 2018-23, the pet food market will rise on account of increasing number of pet adoption, increasing trend of premiumisation of pet food stuffs, growing middle class in various developing countries, humanization of pets, etc.
Major Companies
Major companies that foray in the pet care market of "North America, Latin America and Middle-East & Africa pet care market outlook, 2023" are Mars Incorporated, Nestle SA, Colgate-Palmolive, J M Smucker, Blue-Buffalo, United Pet Group Inc., Champion Pet Foods, PLB International, Scott Pet, Inc., Well Pet, Proveedora La Perla S.A. de C.V., Nicoluzzi Racoes, Raw Gold, Promeal Ltd., Heritage Foods Kenya Ltd., Lider Pet Food and De Haan Pet Food.
Keywords:
North America, pet, USA, pet food, natural, grain-free, dry, wet, premiumisation, pet accessories, pet healthcare, pet grooming, premium, Mexico, Canada, Latin America, Argentina, Brazil, Chile, dog, cat, Middle East, Africa, Mars Incorporated, Nestle, Colgate-Palmolive, Blue-Buffalo, J M Smucker.
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