Pet Food Market Regional Analysis:
North American Market Forecast
The North America region is anticipated to hold 30% share of the global pet food market during the forecast period. This growth of the market can be influenced by a rising urban population. The urban population in North America for 2022 was over 308,798,138, about a 0.76% rise from 2021. Hence, the demand for pet food is estimated to grow since urban regions have access to a variety of pet food products. Additionally, the e-commerce website site is growing in this region, which is further expanding the number of options for the products. Additionally, North America is a hub for the development of technology innovation, which further influences the global pet food industry.
European Market Analysis
The pet food market in Europe region is predicted to account for 25% of the revenue share by 2035. This is because the population in this region usually demands premium-quality pet food. Additionally, this region also has several key players in this field. For instance, the German market consists of major players such as Nestlé, Mars, and others. Furthermore, the Gen Z population in this region is also growing and is set to be more encouraged to adopt pets since they are considered to be more passionate about animals than any other generation. As a result, this factor is also projected to dominate the market growth in this region.
