DUBLIN--(BUSINESS WIRE)--Nov 23, 2022--
The "Africa Pet Food Market- Size, Trends, Competitive Analysis and Forecasts (2022-2027)" report has been added to ResearchAndMarkets.com's offering.
The Africa pet food market provides substantial growth prospects and is forecasted to grow at a CAGR of 3.0% from 2022 to 2027.
Demand Driving Factors
Africa's emerging economies present growth opportunities for global businesses for expansion and distribution. Seven countries - Nigeria, Ethiopia, the Democratic Republic of Congo, Egypt, Tanzania, Kenya, and South Africa - will hold half of the continent's population. The rising income levels among all socioeconomic groups and increasing pet adoption is encouraging more pet food manufacturers to introduce their products to the continent.
Financial stability and urbanization are changing consumer preferences and thus modernizing the food systems. Food environments in Africa are changing swiftly, with modern retailers - such as supermarkets, hypermarkets, and fast-food restaurants - sprawling in major cities.
The shift from traditional markets to modern supermarkets has made the distribution of pet food easy and also helped expand consumer awareness about pet food. All these factors are accelerating the demand for pet food in Africa.
Factors Obstructing Growth
The preference of pet owners to feed pets relatively inexpensive home-cooked meals, rather than store-bought pet food is hindering the growth of the market. Low awareness about the high nutritional value of manufactured pet food and the high cost is also resulting in pet food having a 'low calorific coverage' (share of stomach) among pets.
The steady and continuous supply of quality raw materials is a struggle in Africa, as farmers don't stay loyal to one buyer. As a result, the pet food manufacturers face difficulty in maintaining a smooth production process and quality of products, hindering the supply of pet food in Africa. Moreover, the dominance of informal trade and the vast rural population makes distribution a complex exercise.
South Africa, Egypt, Nigeria occupy 70% of market share
South Africa is the dominant market for pet food in Africa. The country also acts as a hub for pet food distribution across the continent. With rising economic stability in Egypt and Nigeria, the demand for pet food is also growing. Dog food is the most dominant pet food category in the region.
The pet owners prefer to buy dry food due to its cheaper cost. Dry food holds a dominant market share; however, the demand for snacks and treats is slowly rising. Supermarkets, vet clinics, and pet shops are the major points of distribution of pet food among all major countries.
Competitive Landscape
The pet food industry in Africa is fragmented among both international and local manufacturers. Nestle Purina, Mars Pet Care, and Royal Canin are key international pet food players in the market.
Pet food brands are investing heavily in marketing at events/ pet shows, sampling at vet clinics and pet stores, discounts, awareness drives, etc. to create brand awareness and acquire customers. Manufacturers are also collaborating with supermarkets, grocery stores, and pharmacies in addition to veterinary clinics and pet shops to strengthen distribution channels.
Key Deliverables
Industry Dynamics
Drivers
Restraints
Opportunities
Porter's Five Forces Analysis
Future Trends in the Industry
Value Chain Analysis
Industry Policies & Regulations
Market Innovations
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/po42r6
View source version on businesswire.com:https://www.businesswire.com/news/home/20221123005358/en/
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KEYWORD: AFRICA
INDUSTRY KEYWORD: RETAIL HEALTH CONSUMER PETS FOOD/BEVERAGE VETERINARY
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/23/2022 10:53 AM/DISC: 11/23/2022 10:53 AM
http://www.businesswire.com/news/home/20221123005358/en