Notti Pet Food Team (from left) Amelia Tang, Shing Wei, Keyee Yap, and Sarah Koay.
DATA from Fortune Business Insights reveals that the global pet food market was valued around US$120bil last year. The segment is projected to grow to US$193bil within the next decade, representing a compound annual growth rate (CAGR) of over 5%.
The pet food market is also displaying tremendous growth in the Asia-Pacific region. Currently worth US$34bil, the segment should be worth US$53bil in 2029, representing a CAGR of over 9%, according to Mordor Intelligence.
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