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Title: A high revenue generating industry with revenue crossing USD 179.0 billion by 2031 - DataM Intelligence

India, 31st Jul 2024 - The Global Pet Food Market was valued at USD 120.3 billion in 2022 and is projected to grow to USD 179.0 billion by 2031, with a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031 according to DataM Intelligence latest study. Pet food is formulated by combining various ingredients to deliver essential nutrients, including proteins, carbohydrates, fats, vitamins, and minerals. Key Industry Insights & Findings from the Report:The pet food market is projected to reach USD 127.21 billion by 2031, growing at a CAGR of 5.6% from 2024 to 2031. This growth is driven by increasing pet ownership and rising demand for premium pet food products.Based on product type, the dry food segment accounted for the highest revenue share in 2022, due to its convenience and longer shelf life.North America held the largest market share in 2022, attributed to the high expenditure on pet care in the region.The rising trend of natural and organic pet food products is expected to significantly boost market growth.Request for a free sample PDF of this report:  https://www.datamintelligence.com/download-sample/pet-food-marketThe pet food market has experienced significant growth due to increasing pet ownership and the rising humanization of pets, where pets are increasingly considered family members. This market encompasses a wide range of products, including dry food, wet food, treats, and specialized diets formulated for various pets such as dogs, cats, birds, and exotic animals. The demand for premium and organic pet foods is on the rise as pet owners seek high-quality, nutritious options that cater to their pets' health needs. Innovations in pet food, such as the inclusion of novel ingredients, grain-free...

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