Global Pet Food Market is Forecasted to Reach USD 74.8 Billion by 2017: Transparency Market Research

Global Pet Food Market is Forecasted to Reach USD 74.8 Billion by 2017: Transparency Market Research PR Newswire ALBANY, New York, August 10, 2012 ALBANY, New York, August 10, 2012 /PRNewswire/ -- According to a new market report published by Transparency Market Research (http://www.transparencymarketresearch.com) "Pet Food Market - Global Industry Size, Market Share, Trends, Analysis and Forecast, 2011 - 2017," the global pet food market was worth USD 58.6 billion in 2011 and is expected to reach the value of USD 74.8 billion in 2017, growing at a CAGR of 4.2% from 2011 to 2017. North America is expected to remain the largest regional segment for the pet food industry in terms of revenue generation, accounting for around 40% of the total revenue. Asia Pacific will be the fastest growing segment due to growing trend and increasing importance of pets in homes. Browse the full report at http://www.transparencymarketresearch.com/pet-food- market.html North America market for pet foods was valued at USD 21.7 billion in 2011 and expected to witness growth in 2012 and reach the value of USD 22.4 billion. With number of market drivers and product innovations in pet foods, the North America pet foods market is forecasted to reach USD 26.6 billion in 2017 at the CAGR of 3.5% from 2011 to 2017. Europe market being the second largest consumer of pet foods is expected to grow at a CAGR of 4.4% from 2011 to 2017.