The demand for premium pet food has been steadily increasing, with 85 million families owning pets in the United States.
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.
Owing to a huge number of pet owners that place a high value on the welfare of their companion animals, the demand for pet food is soaring in the United States. The sector has experienced significant development and innovation. This has largely been in terms of alternative sources of protein, vitamins, fats, carbohydrates, and other nutritious to meet the growing pet culture.
A key driver in the growth of the pet food market is the increasing trend of humanization of pets. Giving pets wholesome food has become more important as pet owners now see their pets as integral members of their families. As a result, the market for premium, natural pet food products is expanding.
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Furthermore, modern-day pet owners are aware and informed about the ingredients used in pet food products. The rise in the number of intolerances, and allergies in pets has resulted in a growing popularity of grain-free and plant-based alternatives in pet food.
Novel protein sources like fish, soy, and several types of legumes have resulted in the development and formulation of products that are alternatives to conventional chicken or beef ingredients. This makes it possible for pet owners to adjust to specific dietary needs and meet specialized nutritional demands.
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
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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.
For instance,
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Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the USA pet food market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
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 02, 2024
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