Albany, NY -- (SBWIRE) -- 03/20/2015 -- The prominent factors driving the global animal food market are a greater concern for the health and wellbeing of pets in pet owners all over the world and the prevalence of stiff competition in the market. The global animal food market forms an integral part of the overall food industry. The rising demand for animal food can be attributed to the fact that pet owners these days are heavily inclined towards advanced pet care measures. Also, the global animal food market is at present characterized by newer and improved animal food products sold at competitive prices.

Rising demand for high-quality animal foods is brought about by greater pet care concerns. The cost-effectiveness and better quality of modern animal food can be attributed to the intense nature of the prevailing market competition. It is anticipated that the global animal food market will exhibit sturdy growth rates over the coming years. Urbanization is also a significant factor that drives the global animal food market. The global animal food market is highly fragmented and intensely competitive.

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Dry Animal Food Segment to Propel Animal Food Industry

The global animal food market is segmented on the basis of the type of animal food, the animal at which the food is targeted, and geography. On the basis of type of animal food, the global animal food market is segmented into cat food and dog food segments. The main types of animal foods dominating this industry include moist dog food, moist cat food, dry dog food, dry cat food, cat treat, and dog treat. In terms of revenue and demand, the global animal food market is led by the dry dog food segment. In fact, the largest segment in the overall market for animal food is held by the segment for dry animal food.

The segment for dry animal food is primarily driven by the convenience dry foods offer, such as a longer shelf life for the products than their moist counterparts. The segment of animal treats/snacks occupies the second largest share in the global market for animal food. The smallest market share in this industry is held by the segment for moist animal food. Some of the key factors driving the global animal food market are changing lifestyles, urbanization, increasing disposable incomes, the trend of nuclear families, and also the growing trend of having home pets.

North America: Dominant Regional Player in the Global Animal Food Market

Geographically, the global animal food market is categorized into Europe, Asia Pacific, North America, and Rest of the World. The Asia Pacific animal food market is mainly propelled by rising income levels in developing, modernizing economies. The global animal food market at present is characterized by a large pool of animal food manufacturers. Also, over the past couple of years, this industry has been witnessing a significant change in its demography.

The global market for animal food is dominated by North America, due to the established trend of having home pets and higher affluence of the average pet owner. This regional market is expected to retain its leading position in terms of revenue in the animal food industry even during the coming years. Due to the growing trend of having home pets, the Asia Pacific animal food market is anticipated to witness robust growth in the years to come. In terms of consumption, the largest share in the global animal food market is held by Europe.

The key companies operating in the global animal food market are Newman's Own Organic, Annamaet PetFoods, Cloud Star Corporation, BilJac Foods, Inc., Active Life Pet Products, Chomp, Inc., Bench & Field Pet Foods, LLC., and Chenango Valley Pet Foods, Inc.

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