Report ID: SQSG30B2012
Report ID:
SQSG30B2012 |
Region:
Global |
Published Date: February, 2024
Pages:
276
|
Tables:
89 |
Figures:
66
Direct to Consumer Pet Food Market was valued at USD 1.7 billion in 2019 and it is expected to reach a value of USD 8.17 billion by 2031, at a CAGR of 25.1% over the forecast period (2024-2031).
Rising popularity of various online digital channels coupled with the increasing usage of internet and availability of high-speed internet facilities are major key factors expected to drive the growth of the global direct to consumer pet food market during the forecast period. In addition, change in people lifestyles, availability of various user-friendly websites and apps along with the growing prevalence of premium food products especially in developed regions across the globe are also likely to boost the growth of the global market exponentially over the coming years.
Furthermore, increasing pet parenting and a rapid surge in awareness among pet owners towards their pet health and wellness is anticipated to contribute significantly to the market growth over the forecast period. In the coming years, humanization and premiumization are major trends likely to influence the adoption and expansion of global direct to consumer pet food market at a strong pace.
US Direct To Consumer Pet Food Market is poised to grow at a sustainable CAGR for the next forecast year.
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REQUEST FREE CUSTOMIZATIONDirect to Consumer Pet Food Market was valued at USD 1.7 billion in 2019 and it is expected to reach a value of USD 8.17 billion by 2031, at a CAGR of 25.1% over the forecast period (2024-2031).
The direct to consumer pet food market is moderately consolidated in nature with the existence of many large market players operating across the globe. Key market players are implementing on several business developing strategies such as acquisition, partnerships, collaborations, new product launches, and technological advancements for the expansion of their geographical presence and product portfolio. 'Nestle S.A.', 'Mars Incorporated', 'Hill’s Pet Nutrition Inc.', 'The J.M. Smucker Company', 'Diamond Pet Foods Inc.', 'Heristo Aktiengesellschaft', 'The Farmers Dog Inc.', 'NomNomNow Inc.', 'Jinx Inc.', 'General Mills Inc.'
Rising Awareness for Pet Health to Drive Market Growth
Growing Trend of Personalized Pet Food
Globally, North America dominated the direct to consumer pet food market in 2021 and is projected to maintain its dominance throughout the forecast period owing to increased number of millennials as pet owners, high availability of wide range of customized pet food products, and rising focus on health and diets of pets in the region. Moreover, large presence of key market players such as Mars Incorporated, General Mills Inc., The J.M. Smucker Company, and Simmon Pet Food Inc. and their rising investments on research and development activities to introduce new and more attractive food products and to get consumer attention is also anticipated to propel the growth of the DTC food market across the region at a significant growth rate in the coming years.
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Report ID: SQSG30B2012