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Pet Food Market to Touch USD 127.21 Billion by 2027; Declining Demand for Synthetic Foods to Prove Beneficial for Market Growth, Says Fortune Business Insights™

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Pune, India, June 14, 2021 (GLOBE NEWSWIRE) — The global pet food market size is expected to reach USD 127.21 billion by 2027, exhibiting a CAGR of 4.60% during the forecast period. In 2019, the market value stood at USD 90.13 billion. The demand for high-quality and organic foods for pets is being driven by owners’ concerns about their pets’ health and boosting this market, shares Fortune Business Insights™ in its report, titled “Pet Food Market, 2020-2027”.

Pet owners treat their animals as family members and are willing to invest in the highest-quality pet products and services. As a result, they are steadily turning towards organic and natural foods to feed their “fur babies.” In response, many companies have been developing novel food products to cater to this evolving trend.

For example, the pet food company Castor and Pollux has built the Organix line of nutritious canned and dry foods for dogs and cats. Netherlands-based Yarrah has gained fame for selling organic animal foods and has secured the European green leaf label for its brands. These premium foods contain higher quality ingredients than the other economy or generic pet foods and are free of artificial colors, textures, antibiotics, synthetic hormones, poisonous pesticides, and preservatives. The advent of organic ingredients in the animal feed industry is thus slated to accelerate the growth of this market in the forthcoming years.

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COVID-19 Impact:

The unpredictable circumstances created by the COVID-19 pandemic have significantly affected the pet food market growth. COVID-19 has harmed supply chains. The animal food industry initially suffered in terms of supply and cash flow issues due to restrictions on the movement of raw materials. On the other hand, the demand for these foods has grown steadily in many parts of the world as people have adopted more pets in response to an increasing need for companionship during the lockdown.

Segments:

By type, the market is segmented into dogs, cats, and other pets. Based on form, the market is categorized into dry food, wet food, and dog treats & mixers. On the basis of application, the market is segregated into supermarkets, specialized pet shops, and internet sales. By geography, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Highlights

The report contains detailed insights into the drivers, trends, and restraints shaping the market. In addition, the report incorporates an in-depth evaluation of the all the market segments, as well as provides a precise computation of relevant market figures and values. Lastly, the report offers a comprehensive analysis of the regional dynamics and competitive milieu of the market.

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/industry-reports/pet-food-market-100554

List of Key Players Profiled in the Pet Food Market Report:

  • Mars Incorporated
  • Nestle Purina Petcare Company
  • The J.M Smucker Company
  • Colgate-Palmolive company
  • Blue Buffalo Co. Ltd.

Drivers & Restraints:

Rising Pet Ownership in Developed Countries to Fuel Market Growth

Pet humanization has recently gained a lot of coverage in mass media around the world. In the pet food industry, the change from pet-owning to pet-parenting has been a critical and defining trend, especially in developed countries, where the ownership of pets is rising. According to the National Pet Owners Survey undertaken by the American Pet Products Association in 2019-20, more than 85 million households in the United States had one or more pets, most of which were dogs. Further, consumers’ desire to spend more on pet nutrition is influenced by the growing bond between pet owners and their pets. The drive toward pet humanization has thus resulted in a rise in health consciousness and a preference for food free of sugar, grain, dye, and other chemical additives. As a result, the pet food industry is expected to grow as pets become more humanized.

Regional Insights:

North America to Emerge as the Fastest Growing Market for Pet Food

Increasing pet humanization, the introduction of private label stores, and growing urbanization followed by rising disposable incomes are some of the significant driving factors aiding the top position of North America in the pet food market share. Additionally, as local producers increase their presence in the domestic market, locally sourced and ethically developed nutritional products for pets are propelling the regional market. In 2019, the North America market size stood at USD 35.78 billion.

In the global market, Asia Pacific is projected to rise at the fastest pace. Economies such as Australia, Japan, and China are big revenue generators in the region. Japan, in fact, is one of the world’s top importers of ready-to-eat dog and cat food.

Competitive Landscape:

Manufacturers to Increase Capital Investments for Equipment and Machinery

The installation of various types of machinery and equipment by pet food producers necessitates significant capital investments. This equipment not only has high installation costs but it also needs to be maintained regularly, which is an extra expense. Thus, equipment rentals, contract manufacturing, and other associated facilities are among the more cost-effective solutions considered by these manufacturers.

Industry Development:

November 2020: A Canadian pet food company, Wilder Harrier, has launched a new dog food recipe that includes Asian carp, an invasive species found in both Canadian and US rivers and lakes. Some pet supplies stores in Quebec are currently stocking Asian carp dog food.

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https://www.fortunebusinessinsights.com/enquiry/queries/pet-food-market-100554

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Formology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Emerging Trends
  • Key Insights
    • Overview of the Animal Feed Market
    • Industry SWOT Analysis
    • Supply Chain Analysis
    • Recent Industry Developments – Policies, Partnerships, New Product  Launches, and Mergers & Acquisitions
  • Global Pet Food Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Size Estimates and Forecast 
      • By Animal Type (Value)
        • Dogs
        • Cats
        • Others
      • By Form (Value)
        • Dry Pet Food
        • Wet  Pet Food
        • Snacks & Treats
      • By Distribution Channel (Value)
        • Supermarkets/Hypermarkets
        • Specialty Pet Food Stores
        • Online Channels
        • Others
      • By Region (Value)
        • North America
        • Europe
        • Asia Pacific
        • South America
        • Middle East & Africa

TOC Continued…!

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https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/pet-food-market-100554

Have a Look at Related Research Insights:

Feed Premix Market Size, Share & Industry Analysis, By Type (Vitamins, Minerals, Amino Acids, and Antibiotics), By Livestock (Poultry, Ruminants, Swine, Aquatic Animals, and Others), and Regional Forecast 2019-2026

Feed Antibiotics Market Size, Share and Global Trend By Animal (Livestock, Companion), By Product (Tetracycline, Penicillin, Sulfonamide, Macrolide, Cephalosporin, Fluoroquinolone, Others), By Mode of Delivery (Premixes, Oral Powder, Injection), By End-user (Veterinary Hospitals, Home care, Others) and Geography Forecast till 2021-2028

Pet Utility Products Market Size, Share & Industry Analysis, By Product Type (Pet Collars, Leashes, Feeding Accessories, Others), By Animal Type (Dogs, Cats, Birds, Others), By Distribution Channel (Veterinary Hospital & Clinics, Pet Shops, Online Stores, Others) and Regional Forecast, 2021-2028

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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