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An aging population and changing family patterns have changed the way people keep domestic pets. Pets are increasingly becoming a focal point of households worldwide, and with it, the market for pet food and pet products has been on an upswing. Pet owners are willing to indulge their pets by offering them the best of care, nutrition, medical facilities and recreation. It is estimated that over 60% (or 73 million) households in the United States own at least one pet. 


It is interesting to note that even during the global recession of 2008, the global spending on pet care was one of the least affected segments. This indicates the owners cut spending in other areas so as to ensure that they continued to maintain their pets with the best care.


Market analysts estimate that by the year 2017, the global market for pet food will be nearly USD 96 billion. The spending per pet is on the rise, and at the same time, the global pet population is growing. Globally, the European Union dominates the market and this region also demonstrates a higher demand for health-centric pet treats and products across the entire pet age group from puppies to aged pets that have reduced mobility and physical activity. 


Research shows that the Asia-Pacific market is one of the fastest growing markets worldwide with an expected growth rate of 9% till 2017. Nearly every segment right from healthcare and nutrition products to pet food to toys to clothing and accessories for pets is expected to see an upward growth graph. In markets such as China, India, and Brazil however, pet owners look for pet food and products that offer value for money.


Several leading industry names have diversified or acquired companies in the pet food market. 


In the future, organic pet food and green pet products will emerge as a lucrative sector in this industry. Innovation in the pet food market will remain key to survival and profitability. Customized pet products are yet another ancillary industry that will witness a higher demand from pet owners. 


Market research reports are an effective tool to keep abreast of the latest as well as emerging trends in the pet food industry. ResearchMoz.us is regarded as the most reliable source for accurate and competitively priced market research reports pertaining to the pet food industry. For hundreds of reports sourced from the most reputable and authentic market research report publishers, ResearchMoz.us is a trusted partner. Our Research Coordinators are standing by to help you make the best selection.