The US Pet Food Market Driven by Increasing Pet Adoption Rates

The US Pet Food Market Driven by Increasing Pet Adoption Rates
The US pet food market has experienced a healthy growth in the past few years. Major factors contributing to the market growth are humanization of pets, introduction of innovative and premium products, health-conscious consumers and rising disposable incomes.

The latest report by IMARC Group, titled “US Pet Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the US pet food market reached a value of US$ 24.8 Billion in 2016, exhibiting a CAGR of 5% during 2009-2016. Over the past few years, an increase in the number of pets has been witnessed in the United States. Pet owners, nowadays, treat their pets as human beings and are conscious about the health of the animals as they are for themselves. Owing to this, they have shifted towards using pet food which offers numerous advantages such as great taste, huge meat content, convenience and easy availability. Pet food also helps in keeping the animals satiated, along with supplying them with nutrients vital for their health.

Highlights of the US pet food market:

  • Humanization of pets by their owners has majorly contributed in the growth of the market.
  • On the basis of pet type, dog food holds the majority of the total sales.
  • Based on the product type, dry food accounts for the largest share.

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Pet humanization by the owners has increased the expenditure on the pet food to provide the animals with better quality food. Keeping health benefits in mind, pet owners are preferring organic and natural food products for their pets, thereby contributing in the market growth. Additionally, pet food companies are introducing products based on the breed, lifestyle, age, digestion capacity and nutrition requirements of different pets. These companies also provide products with different taste and flavour so as to increase their consumer-base. According to the report, the market for pet food in the United States is further expected to exhibit a CAGR of 4.8% during 2017-2022, reaching a value of US$ 32.9 Billion by 2022.

The US pet food market has been segmented on the basis of pet type. Due to rising trend of dog-ownership, dog food represents the largest segment. It is followed by cat food and other pet food such as fish food, small mammal/reptile food and bird food. On the basis of product type, the market is further segregated into dry pet food, treats and mixers, and wet pet food. Among these, dry pet food holds the majority of the total share. On analysing the competitive landscape of the market, the key players found are Mars Petcare Inc., Diamond Pet Foods, Nestle Purina Petcare, Blue Buffalo, Big Heart Pet Brands and Hill’s Pet Nutrition.

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The report by IMARC Group has examined the US pet food market on the basis of:

Market by Pet Type:

  • Dog Food
  • Cat Food
  • Others

Market by Product Type:

  • Dry Pet Food
  • Treats and Mixers
  • Wet Pet Food

Key Players:

  • Nestlé Purina PetCare
  • Mars Petcare Inc.
  • Big Heart Pet Brands
  • Hill’s Pet Nutrition
  • Diamond Pet Foods
  • Blue Buffalo

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