Increasing pet humanization and rising the pet ownership in the country are the key factors driving the growth and demand of the pet food market in the United States.
According to TechSci Research report, “United States Pet Food Market”– By Region, Competition Forecast and Opportunities, 2017-2027”, In recent years, the US pet food market has expanded significantly. Pet foods are primarily used as functional foods, even though they are typically intended to give pets a complete and balanced diet. Pet foods help owners avoid the hassle of providing a nutritional diet to their animals by meeting the healthy adequacy standard.
As more people adopt pets, there are more opportunities for the industry because pet owners are becoming more and more concerned with their pets’ diets and food intake. Pet food manufacturers are responding to consumer demand for healthy, premium quality, sustainably produced pet food that is also minimally processed and uses fewer artificial preservatives.
Pet food manufacturers are facilitating the production process to increase efficiency and safety. Utilizing cutting-edge manufacturing technology helps businesses reduce costs and guarantee product quality. Examples include automating liquid delivery, batching, drying, coating, and formulation. Investors should consider ancillary markets like the market for pet medications, veterinary products, pet insurance, pet grooming, and wellness products, in addition to pet food stocks. The millennial generation’s rising demand has led to growth trends in the pet food industry, which is appealing. Although the pet humanization trend boosted the market during the pandemic, the sector would continue to expand and offer various investment opportunities. Because pet ownership is becoming more popular and pet owners place a high value on their pets’ health and nutrition, the US pet food industry is a lucrative sector to keep an eye on.
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The United States pet food market is segmented into pet type, food type, distribution channel, and region. Based on pet type, the market is segmented into dogs, cats, fish, and others. Among these, the dog segment holds the leading share in the market during the forecast period. Due to growing consumer awareness of pet health issues, dog weight maintenance and improvement have received more attention. Customers choose from various offered foods and rely heavily on product brands. Manufacturers are constantly working to increase their overall profit margin by breaking into the market for premium food products.
The market is segmented based on food type: dry, wet, and others. Among these, dry pet food holds the leading share in the market during the forecast period. Some of these products are specifically formulated to clean teeth while consumed and are cost-effective. These elements give dry pet foods a competitive advantage over their long-standing rival, wet pet foods. Dry pet food can also be left outside for a long time without going bad. As a result, it is convenient for owners who lead busy lives. Since dry pet food has the most extended shelf life and a range of oxidative stability, it makes up the most significant portion of the pet food market.
Based on distribution channels, the market is segmented into supermarket/hypermarket, pet shop/ pet specialty shop, butcher, and online. Among these, the online segment holds the leading share in the market during the forecast period. Many online retailers draw customers because of their attractive discounts. Demand for pet food and other products has increased due to the increase in online shopping websites. Major e-commerce businesses constantly offer more enticing discounts to customers to establish their presence.
The region’s market is segmented into South, West, Mid-West, and North-East. Among these, the Mid-West region holds the leading share in the market during the forecast period due to the increasing trend of humanization in the region, which fuels the demand for the pet food market in the US.
Major operating companies operating in the United States Pet Food Market are:
- Nestlé Purina PetCare Company (Nestle S.A.)
- Mars Inc.
- Diamond Pet Foods, Inc. (SCHELL & KAMPETER, INC.)
- The J.M. Smucker Company
- Colgate-Palmolive Company
- Blue Buffalo Company, Ltd.
- The Hartz Mountain Corporation
- Wellness Pet Company, Inc.
- Simmons Foods, Inc.
- Stella & Chewy’s, LLC
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“The key factors influencing the US pet food market size are changing demographics, increasing product differentiation, and shifting consumer perceptions of pet health. Pet humanization encourages consumers to buy nutritious, high-quality food for their animals, boosting the market’s expansion. Additionally, as consumer income rises, more people are being influenced to spend money on high-quality, organic pet food products to enhance the health of their companion animals. Another factor that encourages growth in the US pet food market is the accessibility of pet food with various price options.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
United States Pet Food Market By Pet Type (Dog, Cat, Fish and Others), By Food Type (Dry, Wet, Others), By Distribution Channel (Supermarket/Hypermarket, Pet Shop/ Pet Specialty Shop, Butcher and Online), By Region, By Company, Forecast & Opportunities, 2017-2027, has evaluated the future growth potential of US pet food market and provides statistics & information on market size, structure, and future market growth. the report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the pet food market in United States.
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