GlobeNewswire
Pet Food Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
The global pet food market was at USD 96,893 million in 2020 and is projected to register a CAGR of 4. 8% during the forecast period. The COVID-19 exerted a negative impact on the supply chains. Owing to the restrictions in the movement of raw materials, the pet food industry suffered initially in terms of supply and cash flow.New York, March 05, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Pet Food Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06030462/?utm_source=GNW However, the demand for the pet food segment has witnessed a steady growth in many parts of the world as people are adopting more pets with the growing desire for companionship. Players in the market have shifted their focus from retail stores to e-commerce platforms by increasing their investments in developing their own websites.In 2020, North America is the largest geographical segment of the market studied and accounted for a share of around 37.6% of the overall market. The pet food industry is one of those industries, which has been performing well, despite the economic downturn. The world’s largest pet food markets are the United States, United Kingdom, France, Brazil, Russia, Germany, and Japan. The pet food market in the United States showed continuous growth in 2019, despite the maturity and impressive scope of the…
