NEWARK, Del, Aug. 22, 2023 (GLOBE NEWSWIRE) -- The United States Pet Food Market is anticipated to grow from US$ 40,860.8 million in 2023 to US$ 60,234.0 million in 2033. Pet food sales in the United States are predicted to increase at a substantial CAGR of 4.0% by 2033.
The demand for pet food is soaring in the United States due to a huge number of pet owners that place a high value on the welfare of their companion animals. 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.
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.
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Key Takeaways from the Pet Food Report:
- The United States pet food market is expected to reach a valuation of US$ 60,234.0 million by 2033
- Demand for pet food in the United States is likely to soar at 4.0% CAGR over the forecast period
- The historic growth during 2018 to 2022 of the pet food market in the United States stood at 3.0% CAGR.
- The United States pet food market is estimated to be valued at US$ 40,860.8 million in 2023.
“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.” – says a lead analyst at Future Market Insights (FMI)
The Top Key Manufacturers listed in the Report are
- 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
- Canidae Pet Food
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Competitive Landscape:
Several key firms 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,
- In 2023, PetPlate launched FreshBaked™, the dry form of gently-baked, crunchy clusters with new formulation features human-grade, visible ingredients
- In 2023, CULT Food Science Corp, launched a new series of pet performance supplements by the name Noochies! Sprinkles. These supplements expand upon the company’s existing product line Noochies!
Get More Valuable Insights
"Future Market Insights (FMI) presents an unbiased analysis of the USA pet food market in its latest offering. The analysis includes historical demand data from 2018 to 2022, along with forecast statistics spanning the period from 2023 to 2033. Additionally, the study places a strong emphasis on providing a detailed analysis of the global pet food market based on animal-derived, plant-derived, and insect-derived sources. This market segment is projected to experience a substantial Compound Annual Growth Rate (CAGR) of 6.4% by the year 2033."
The study incorporates compelling insights on the United States pet food market based on product type (meal kit, prepared meal kit), form (chilled, frozen, shelf-stable), sales channel (store-based retailing, convenience store, discounters, forecourt retailers, hypermarkets/ supermarkets, food specialist, independent small grocers, other grocery retailers, online retail), across states.
The United States Pet Food Market Segmentation by Category
By Nature:
- Organic
- Monoprotein
- Conventional
By Product Type:
- Kibble/Dry
- Extruded
- Baked
- Coated
- Dehydrated Food
- Freeze Dried Food
- Freeze-Dried Raw
- Wet Food
- Frozen
- Raw Food
- Powder
- Treats and Chews
- Dog
- Pastes
- Crèmes
- Crunchy snacks
- Chew sticks
- Tablets
- Biscuits
- Jerky
- Rawhide
- Cat
- Pastes
- Crèmes
- Crunchy snacks
- Chew sticks
- Tablets
- Biscuits
- Cat Milk / Milk snacks
- Dog
By Source:
- Animal derived
- Fish
- Tuna
- Salmon
- Whitefish
- Cod
- Herring
- Walleye
- Flounder
- Arctic char
- Whiting
- Fish
- Chicken
- Duck
- Beef
- Pork
- Venison/Game
- Lamb
- Turkey
- Plant-derived
- Insect-derived
- Crickets
- Mealworms
- Black soldier flies
By Pet Type:
- Cat
- Kitten
- Senior
- Dog
- Puppy
- Adult
- Senior
- Birds
- Others (Rabbits, Hamsters, etc.)
By Packaging:
- Pouches
- Bags
- Folding cartons
- Tubs & Cups
- Can
By Distribution channel:
- Store-based Retailing
- Hypermarkets/Supermarkets
- Convenience Stores
- Mom and Pop Stores
- Pet Stores
- Discounters
- Independent Grocery Retailers
- Drugstores
- Other Retail Formats
- Online Retailers
Explore FMI’s related ongoing Coverage in Food and Beverage Domain:
Pet Food Microalgae Market Size: As per FMI’s research, the pet food microalgae market is slated to reach US$ 24 million by 2023.
Pet Food Ingredients Market Share: The pet food ingredients market is projected to be valued at US$ 68.3 billion by 2033. It is anticipated to witness a CAGR of 4.9% from 2023 to 2033.
Pet Food Processing Market Trend: The global pet food processing market size is estimated to be valued at USD 5.0 Billion in 2022 and projected to reach USD 8.4 Billion by 2032, which record a CAGR of 5.3% during the forecast period from 2022–2032.
Pet Food Extrusion Market Value: The global pet food extrusion market is projected to have an average-paced CAGR of 6.2% between 2023 and 2033.
Frozen Pet Food Market Analysis: The global frozen pet food market is expected to reach a market valuation of US$ 14 Billion by 2022, with demand increasing at a CAGR of 5.1% over the assessment period.
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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