DUBLIN--(BUSINESS WIRE)--The "United States Pet Food Market - Growth, Trends and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The market for pet food in the United States is projected to register a CAGR of 4% during the forecast period 2020-2025
Being the largest pet food market in North America, the United States pet food market's growth is attributed to the increase in pet ownership. The recent rise of pet humanization wherein pets are treated with increased care and hygiene is proving to be a major driver for the market and is leading to major changes in product packing and resourcing of ethically viable products.
The development of private label stores focusing on unique and locally sourced products to increase their overall appeal and the increasing density of nuclear families are the other major drivers of the market. The increase in penetration of the e-commerce sector is proving to be a major opportunity for low-cost marketing for the innovative and novel product line developed by these emerging companies.
Old Mother Hubbard Classic, with an extensive product portfolio available on numerous online retail platforms, such as Amazon, Walmart, Petco, PetSmart, Chewy, and PetFlow, held the largest share in the market, followed by Merrick Pet Care and Orijen.
Key Market Trends
Growing Trend of Pet Humanization is Driving the Market
Being the largest pet food market in North America, the United States pet food market's growth is attributed to the increase in pet ownership. A study shows that nine out of ten Americans, who own pets, consider them as a part of the family. For the last 25 years, this has demonstrated the growing trend of imbuing pets with human characteristics. According to the 2018 National Pet Owners Survey, conducted by the American Pet Products Association (APPA), 68% of United States households (about 85 million families) own a pet. The expenditure on pets in the country increased from 41.2% in 2007 to 69.4% in 2018, out of which the money spent on pet food occupied over 40-45%.
Quality ingredients are of the utmost importance for American pet owners. With the increase in concern for pet health, the demand for pet food products is expected to have a high potential for growth. Hence the increasing pet humanization in the country promotes the need for quality pet food.
Dry Food Segment Dominates the Market
The owner-friendly and easy to store and feed dry pet food is a major segment in the US pet foods market. Apart from being cost-effective, some of these products are even specially formulated to clean teeth while being consumed. These factors give dry pet foods a major advantage over its long-standing competition with wet pet foods. Also, dry pet food can be left out for long hours without any spoilage. Hence, it is very convenient for owners with a busy lifestyle.
The demand for high protein and low carbohydrate diet drives the market, which, in turn, boosts the dry pet food segment overall in the country. With the growing demands for pet food due to the rising trends of pet humanization, the major players in the pet food industry are also increasing investments to occupy major shares and stand as the market leaders. For instance, in 2020, Nestle Purina announced an investment of USD 140 million in its US pet food factory to expand its operations in the country. The main aim of the expansion is to add new processing and packaging lines for the production of 'dry', or kibble-based, pet foods in the market.
Competitive Landscape
The United States pet food markets are characterized by their high level of consolidation. Mars Inc., Nestle SA (Purina), JM Smucker, and Colgate Palmolive (Hill's Pet Nutrition) are some of the major players operating in this market. Mars is a major pet food manufacturer in the country. In 2017, Mars launched CRAVE, a brand of high-protein dog and cat food.
Markets are overcoming this by the development of localized manufacturers and by the creation of many private label stores. The growing incidence of pet obesity is causing most consumers to limit the calorie and food content; this is proving to be a dampener for the industry.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions & Market Definition
1.3 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
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Dry Food
5.1.2 Wet Food
5.1.3 Treat/Snacks
5.1.4 Others
5.2 Animal Type
5.2.1 Dogs
5.2.2 Cats
5.2.3 Birds
5.2.4 Other Animals
5.3 Distribution Channel
5.3.1 Specialized Pet Shops
5.3.2 Online Channel
5.3.3 Supermarket/Hypermarket
5.3.4 Other Channels
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Mars Inc.
6.3.2 Nestle SA (Purina)
6.3.3 Colgate Palmolive ( Hill's Pet Nutrition)
6.3.4 Merrick Pet Care
6.3.5 Aller Pet Food
6.3.6 Sunshine Mills
6.3.7 J.M. Smucker
6.3.8 Ainsworth Pet Nutrition
6.3.9 P&G Petcare
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19
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