Comserveonline--> Russia Pet Food Market By Key Players, Deployment Type, Applications, Vertical, and Region

(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Sep 16, 2021, 06:29 /Comserve / -- Russia Pet Food market With Top Countries Data, industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

The Russia Pet Food Market is projected to register a CAGR of 4.2% during the forecast period (2021-2026). The global pandemic Covid-19 has transformed the Russian pet food market by driving online sales and increasing the expansion opportunities for the local business. During the nationwide lockdown, pet stores are allowed to continue their operations but their revenue decreased as consumers preferred to buy through online channels. Online sales have been increasing, cat and dog food sales increased by 249% and 265% during the pandemic Covid-19. Hence the pandemic Covid-19 had a positive impact on the Russian pet food market. According to the European Pet Food Federation, the Russian Pet Food market occupies around 10.9% of the total European and 2.0% of the global pet food market in the year 2018.

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Russian pet food market is a young market, compared to the Western European countries, and expected to witness growth, owing to the increased domestic production. According to the studies, in the year 2018, The demand for domestic pet food rose by around 20.0%, while the demand for imported pet food also increased by 40.0%, during the forecast period. The majority of the market share of the pet food market belongs to dry and wet cat food. The market once was heavily dependent on foreign imports, especially from the United States. However, now the scenario has significantly changed to promote domestic production with stringency in licensing requirements for imports, along with benefits and subsidies promoting domestic production.

Key Market Trends

Pet Humanization is Driving the Market Growth

The trend of pet humanization continues to grow deeply in the pet food industry. Pet owners are treating their pets like members or a part of their family increasingly, whereby pets could provide companionship for their owners, especially dogs and cats. This suggests that the evolution of the category is becoming more premium, as consumers are prepared to spend more on pet food products that are healthy, nutritious, and improve living conditions. The problem of pet obesity is mainly caused by pet owners indulging their pets with treats and food or some of the owners give excessive food to their pets or feed their pets with inappropriate human food. For instance, Mars in the year 2019, updated its entire Whiskas pouch portfolio to highlight healthy ingredients on the pack design and launched an 11+ year range of pet products for older cats as research suggests that more than 18% of cats are over 11 years old. Maximum pet owners want the best of ingredients in their pet's food, mirroring the trend of the human food industry due to the humanization of pets.

Import of Pet Food Dominates the Russia Pet Food Market in Terms of Value

According to the European Pet Food Federation, Russia's pet food market is the 3rd fastest growing market worldwide with annual growth of 8.7%. Strong growth is expected to continue as a result of expanding pet numbers, changing feeding patterns, and increased sales in provincial cities. Accordingly in 2019, the Import of pet foods valued at USD 350,796 thousand up from USD 289,237 thousand in 2017, denoting a 21.3% increase in the value.

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As per the United States Department of Agriculture, the share of dry food for cats and dogs in total imports accounts for 57.0%, while 41.0% is accounted for by canned food and 2.0% comes from other types of food. According to the International Trade Centre (ITC), France, Italy, Canada, and the Netherlands are consistently the major exporter of pet foods into the Russian pet food market over the years. Imports of pet food continue to increase as a result of renewed economic growth, higher household incomes, an increase in the number of pets within Russian families, and higher demand for new flavors/types and premium products.

Competitive Landscape

The Russia Pet Food Market is consolidated with the top global players occupying a major share in the market. The competition in the market is driven by consumer loyalty. Since pets would crave for the same kind of food every time during any particular growth stage, gaining a market share of competitors is very tough in the market. The major players in the Global Pet Food Market are Mars, Inc., Nestle Purina Petcare Company, Colgate-Palmolive Company (Hill's Pet Nutrition, Inc.), The J.M. Smucker Company (Big Heart Pet Brands, Inc.), and Blue Buffalo Pet Products, Inc., among others.

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porters Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

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