Demand for pet food products is expected to be driven by a rising consumer trend towards pet adoption as well as growing concerns about their health. Improving the overall performance and digestion of pets through the consumption of wholesome food is
The market for pet food in the United States is anticipated to grow from US$ 40,860.8 million in 2023 to US$ 60,234.0 million in 2033. Sales of pet food in the United States are predicted to increase at a substantial CAGR of 4.0% by 2033.
The demand for pet food is rising in the US due to the large number of pet owners who place a high value on the welfare of their companion animals. The industry has seen substantial innovation and development. To address the needs of the expanding pet culture, this has mostly involved finding new sources of protein, vitamins, lipids, carbs, and other nutrients.
The growing tendency of humanizing pets is one of the main factors propelling the pet food market's expansion. Since pet owners today consider their animals to be essential members of their families, feeding them healthful food has become more crucial. The demand for high-quality, natural pet food products is rising as a result.
In addition, contemporary pet owners are knowledgeable of the substances included in pet food items. Grain-free and plant-based pet food alternatives are becoming more and more popular as a result of the increase in allergies and intolerances in animals.
Products that replace traditional chicken or beef ingredients have been developed and formulated using novel protein sources such as fish, soy, and other types of legumes. This enables pet owners to fulfill customized nutritional requirements and adapt to certain dietary preferences.
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Key Takeaways from the Pet Food Report:
“The demand for premium pet food has been steadily increasing, with 85 million families owning pets in the United States. As pet owners become informed about the nutritional needs of their animals, there is an increase in demand for premium and specialty pet food options.” - Nandini Roy Choudhury, Client Partner at Future Market Insights
Competitive Landscape
Mars Petcare Inc., Nestlé Purina PetCare, The J.M. Smucker Company, Hill’s Pet Nutrition, Blue Buffalo Company, Champion Petfoods, Spectrum Brands Holdings, WellPet LLC, Diamond Pet Foods, Merrick Pet Care, Nutro Products, Ainsworth Pet Nutrition, Fromm Family Foods, Solid Gold Pet and Canidae Pet Foodkits are the key manufacturers listed in the report of FMI.
Several keyfirms are striving for market share and customer loyalty in the USA pet food business, which is highly competitive. To meet the several needs and tastes of pet owners, these businesses are committed to providing a wide choice of pet food items. There are several players in the market launching new pet food products.
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The United States Pet Food Market Segmentation by Category
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market.
Feb 13, 2024
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