Title: The global pet food market is estimated to be valued at US$ 86.3 billion by 2020
- The fastest growing segment in the food sector is the pet food industry which is driven by increasing number of people adopting pets and consumer attitudinal change towards pets with interest on their nutrition and health.
- The global pet food market with a growing CAGR of 4.5% is estimated to be valued at $ 86.3 billion by 2020.
- The pet food industry accounts only 12% towards value based foods with rest accounted for general consumption.
- The Pet food market Asia posted a growth of 3.2% in 2013
- The retail sales for pet supplements and nutraceutical treats recorded $1.3 billion in US.
Source: Mordor Intelligence