Change in Lifestyle a major factor for growth of the Global Pet Food Market - Forecast to 2023

The global pet food market is anticipated to witness a stable growth in the coming years due to major factors like transformation in lifestyle, rise in numbers of nuclear families, rising disposable income of people, increasing trend of pet humanization among many others.

The global pet food market can be divided on the basis of food type, pet type, and geography. Based on food type, the global pet food market can be divided into dry food, nutritious food, wet/canned food, and treats/ snacks. Dry food dominates the global pet food market followed by snacks/treat. Based on pet type the global pet food market can be broadly split into three categories namely dog food, cat food, and others.




Pet Food Market

The dry pet food held the largest market share in the global pet foods market, followed by snacks and treats, and wet foods. Manufacturers in the global pet food market are becoming increasingly responsive towards demand for better quality standards and healthier products owing to rising concern of pet owners to provide their pet with foods with high nutrition level.

Geographically, North America dominates the global pet food market and is expected to grow at a consistent pace. According to American Pet Products Association, the total pet care industry expenditure in the U.S. was $58 billion in 2014 which is expected to increase exponentially in the coming years. The total expenditure in the U.S pet food industry is expected to be $23 billion in 2015 increasing from $22 billion in 2014.

Europe occupies the second largest share in the global pet food market after North America. However, the pet food market in Europe is growing at a higher pace as compared to North America due to increasing pet adoption in the region. Among regions, Asia Pacific is the fastest growing pet food market which can be attributed to factors such as under-penetrated market structure, growing disposable incomes, and rising numbers of nuclear families.

Pet adoption is emerging as one of the symbols of social status in Asian countries which has been favorable for the pet food market in the region. This has also led to significant increase in investment from the global pet food manufacturers in the region.

The major vendors in the global pet food market include Mars Inc., Colgate-Palmolive Co, Nestlé and Del Monte Pacific Ltd, Agrolimen SA, Barking Heads, Diamond Pet Foods Inc., and Vitakraft AG. Nestle dominated the cat food market in North America, followed by Mars. On the other hand, Mars held the largest share in the dog food market in the region. Colgate Palmolive and Blue Buffalo are the other major players for cat and dog food market in the region.


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Global Baby Food Market Size, Share, Development, Growth and Demand Forecast to 2023

The increasing population and growing demand for nutrition are the key growth drivers for the global baby food market. The up surging urbanization and growing disposable income of the people is further expected to propel the growth of the global market during the forecast period.

 
Baby Food Market
 
In 2014, the Milk formula segment accounted for the largest share in the global market. The prepared baby food segment is growing at the fastest pace. Among the various distribution channels, the supermarkets and hypermarkets was the largest segment in the global market in 2014.

The market in the developing countries is growing at a faster pace, than their developed counterparts. The increasing population of China and India are expected to provide significant growth opportunity for the global market. The growing disposable incomes and improving living standards in these countries are encouraging the consumers to purchase packaged nutritional food for their babies.

The increasing numbers of organized retail is also promoting the growth of global baby food market. The declining birth rate in certain major countries is hindering the growth of the market. The developing markets have higher birth rates, as compared to their developed counterparts.

According to World Bank, the average number of births per 1000 people in developed countries was 11.2 in 2013, whereas it was 16.6 in the developing countries. The market in Latin America and Middle East is also growing at a considerable rate. The NGOs and organizations promoting baby health, such as UNICEF advice mothers to breastfeed their babies until they are at least 6 months old. To some extent, this is restraining the growth of the baby food market.

Nestle dominated the global market in 2014; and it is expected to increase its share during the forecast period. The company has been making both organic as well as inorganic investments. The other major companies in the global market include Danone, Perrigo Company PLC, Mead Johnson & Company LLC, Abbott Laboratories, Hero Group, Bellamy Organics, Hain Celestial Group, Campbell Soups, and Friesland Campina.
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Global Industry Insights on Dry Shampoo Market to Witness 6.1% CAGR during 2017 – 2023

The study uncovered that the global dry shampoo market is expected to grow at a moderate pace, during the forecast period. Due to significant growth in e-commerce, new hair care product advancements and effective advertising, the global dry shampoo market is gaining traction.

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Dry Shampoo Market


As per the findings of the research, paraben free dry shampoo accounted for the largest revenue in 2016. Among the forms, spray dry shampoo witnessed higher demand during 2013 - 2016, and it is also expected to register higher growth during the forecast period. Spray dry shampoo has been the larger contributor to the global dry shampoo market in 2016.

Geographically, North America has been the largest market for dry shampoo. However, the market is expected to witness fastest growth in Asia-Pacific, during the forecast period, due to factors such as growth in cosmetics and hair care industry, advancement in anti-dandruff and anti-hair fall dry shampoos, growth in retail channels, and increasing adoption of new hair care products by a large consumer base. 

The European dry shampoo market has been witnessing moderate growth for past few years. Smoking ban in the U.K., and the trend of working from home has been indirectly impacting the regular shampoo industry in the country. 

The research states that the global dry shampoo market is moderately competitive. The players in the market are developing a new marketing and distribution approach to offer dry shampoo. With the declining growth rate of the normal shampoo market, the shampoo manufacturers have started to increase the brand communication of their dry version with consumers, to retain them. 

The players in the dry shampoo market are offering innovative products such as tinted dry shampoo and glitter dry shampoo. Some of the key players in the global dry shampoo market are L’Oréal, Procter & Gamble, Henkel, Batiste, Sephora, Shiseido, and Klorane.


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Global Industry Insights on Seasonings and Spices Market to reach $30,412.8 million by 2023

Seasonings and spices market is forecasted to reach $30,412.8 million by 2023, growing at a CAGR of 6.0% during 2018–2023. The growth in the market will be led by the increasing awareness on the medical benefits of spices, the rising demand for ethnic cuisines, and the growing popularity of convenience foods.
Seasonings and Spices Market

Insights on market segments
In terms of product, the seasonings and spices market has been categorized into whole and ground. The whole seasonings and spices market is expected to grow at higher rate over ground, in terms of volume and value, during the forecast period. The faster growth of the segment is due to the convenience of processing whole spices, from both the industrial and the residential perspective.
On the basis of end use, the seasonings and spices industry has been categorized into industrial, food service, and retail. Due to the growing usage of seasonings and spices in food processing industries to meet the consumer demand, the industrial sector is expected to grow at a CAGR of 4.9% and 6.0% in terms of volume and value, respectively, during the forecast period.
Asia-Pacific will remain the largest market during the forecast period
The seasonings and spices market is expected to generate largest revenue in Asia-Pacific, accounting $10,439.6 million in 2017. The market is being driven by factors such as the heavy consumption of seasonings and spices in South Asian countries, growing spice consumption in the Far East, and growth in the seasoning and spice production in the Asian countries.
From supply side, the Asia-Pacific seasonings and spices industry growth is driven by increase in the production of spices in different countries, favorable environment and climatic conditions for spice production, and support from government agencies to increase spice production. For example, in September 2016, the National Bank for Agriculture and Rural Development (NABARD) in India announced its plan to provide financial support to promote 200 farmer producer companies (FPOs) in Tamil Nadu.
Major players launching innovative products to gain a larger market
Key players in the seasonings and spices industry are launching new products to gain a larger market share. For instance, in August 2017, Sleaford Quality Foods Ltd. introduced eight new spices and herbs to its Chef William pot range. Products introduced included yellow mustard seeds, onion powder, celery seeds, and juniper berries. The company further aims to increase its penetration in the food industry by expanding its product portfolio. Similarly, in January 2017, McCormick & Company Incorporated launched new products in the market to bring flavors from across the world to kitchens and grills. Products launched included Korean BBQ marinade mix, Hawaiian woodfire grill marinade, Brazilian steakhouse seasoning, and Cajun hot sauce.
Some of the other key players operating in the seasonings and spices market are Everest Spices, Mahashian Di Hatti Pvt. Ltd., DS Group, Fuchs Group, Paras Spices Pvt. Ltd., Unilever Group, Ajinomoto Group, The British Pepper & Spice Company Limited, Brake Bros Ltd., Jamie Oliver Enterprises Limited, TRS Group, Camstar Herbs Ltd., and Natco Foods Ltd.
Overview of Global Salt Market
On the basis of type, the global salt market has been segmented into sea salt and rock salt. The sea salt market is expected to grow at a CAGR of 3.1% and 4.7% in terms of volume and value, respectively, during the forecast period. As compared to rock salt, sea salt is widely consumed in most of the countries in the world, owing to its better compatibility with food items, greater nutritional value in terms of high content of trace minerals, and more health benefits. The presence of the world’s two biggest salt-producing nations in the region – China and India, makes Asia-Pacific the largest salt market globally.
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