Renub Research forecasts the United States Pets Food Market to reach US$ 62.41 Billion by 2028
Renub Research has recently released a report named "United States Pets Food Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" provides a detailed industry analysis that consists of market share insights. In addition, the report covers research on competitors and regions and current advancements in the United States Pet Food Market. The United States Pets Foods Market will grow at a CAGR of 5.56%.
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Pet owners worldwide are increasingly humanizing their pets, treating them as part of the family. As per the American Pet Products Association, pet ownership is prevalent in over 67% of US households, equivalent to 84.9 million homes, and shall grow. As a result, the demand for premium and natural pet food products that cater to specific dietary needs and offer health benefits is rising. Additionally, the COVID-19 pandemic has played a role in this growth as more individuals have adopted pets for companionship during lockdowns and have spent more time at home taking care of them.
Pet food typically consists of a combination of meat, grains, vegetables, vitamins, and minerals formulated to provide the necessary nutrients for the specific type and age of the pet. The exact ingredients and composition may vary based on the brand, type of pet, and the animal's particular needs. Additionally, a variety of pet food products are available, including dry kibble, wet canned food, semi-moist, and raw food diets.
American pet owners place a high value on quality ingredients, which has led to the development of specialized formulations and packaging options that mirror human food trends. As a result, significant brands are differentiating their product lines by exploring various packaging options. Additionally, a recent American Veterinary Medical Association survey found that pet owners are spending 40% more on veterinary care and pet healthcare, indicating an increased concern for pet health and high growth potential for the pet food industry.
United States pet food market is projected to experience notable growth in the Dry Dog Food segment
The expansion of the dry food sector in the US pet foods market can be credited to several factors, including convenience, affordability, longer shelf life, and easy storage when compared to wet food products. In addition, many pet owners prefer dry dog food due to its dental health maintenance and ease of portion control. The segment's growth is also influenced by the rising demand for premium and natural dry dog food that fulfills specific dietary needs and offers health benefits.
Dog Food – Market breakup from 4 viewpoints
- Dry Dog Food
- Wet Dog Food
- Frozen/Refrigerated Dog Food
- Dog Biscuits/Treats/Beverages
United States pets food market, the Dry Cat Food segment holds the dominant share
Cats are the second largest pet food consumers, and dry cat food holds the dominant market share in the United States. The growth of the Dry Cat Food segment in the United States pet foods market can be due to factors such as its convenience, affordability, and ease of storage compared to wet food products. Additionally, many pet owners prefer dry cat food as it helps maintain dental health and provides easier portion control. Furthermore, the growing demand for premium and natural dry cat food products that cater to specific dietary requirements and offer health benefits has also played a role in the segment's growth.
Cat Food - Market breakup from 4 viewpoints
- Dry Cat Food
- Wet Cat Food
- Frozen/Refrigerated Cat Food
- Cat Biscuits/Treats/Beverages
During the forecast period, the market revenue was dominated by Amino Acids
Amino acids play a vital role in maintaining the health and well-being of pets. They are essential components of proteins and are required for various physiological functions, such as the surge and repair of tissues, the production of enzymes, and the regulation of the immune system. Amino acids are also required to synthesize neurotransmitters essential for proper brain function. The increased demand for pet food products that cater to specific dietary requirements and provide health benefits has led to the dominance of amino acids in the United States pet food market. Additionally, amino acids are commonly used in pet food formulations to improve the product's nutritional value and enhance its palatability.
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Ingredient Type: United State Food Market breakup from nine viewpoints
- Amino Acid
- Phosphates
- Minerals
- Acidifiers
- Mycotoxin Detoxifier
- Enzymes
- Specialty Proteins
- Vitamins
- Other
Competitive Landscape
The United States pet food market segmentation includes J.M Smucker, General Mills (Blue Buffalo), Tyson Foods, Colgate Palmolive, SPECTRUM BRANDS HOLDINGS, INC., Central Garden & Pet, and Nestle SA.
Key Players Analysis: United States pet food market
- Overview
- Recent Developments
- Financial Insights
Company Analysis: United States pet food market
- J.M Smucker
- General Mills (Blue Buffalo)
- Tyson Foods
- Colgate Palmolive
- SPECTRUM BRANDS HOLDINGS
- INC. Central Garden & Pet
- Nestle SA
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