Global pet food market is set to reach US$98.81 billion (NZ$141.85 billion) by 2022, a recent report by business consulting firm Grand View Research has revealed. The demand for nutritious, healthy and organic pet food is also expected to rise, driven by the emerging economies of India, Vietnam, Indonesia and China, thanks to rising urbanisation and increasing disposable incomes.
Dogs accounted for more than 59 percent market share in 2014, with Mars and Nestlé accounting for around 55 percent of the total market share.
