How much is the pet food industry?

U.S. pet food industry - statistics & facts

Pet stores and brands in the U.S.

The pet industry comprises live animal purchases, pet food, pet supplies, pet services such as grooming and boarding, and vet care. Pet food and treats were made up the largest share of the market in the United States in . Vet care and products followed with the second largest sales amount in the sector. Pet supplies, live animals, and OTC medicine rounded off the leading cash-generating categories. The pet store market in the United States is a highly concentrated industry with two companies, PetSmart and PETCO Animal Supplies, accounting for over 45 percent of the market in . On the demand side, the most important target groups for pet store marketers were pet owners aged between 45 and 64 years, who accounted for over 40 percent of total pet store revenue in . Those aged between 25 and 44, however, came in close second with a 38.7 percent share of pet store revenue. For both dry dog food and dry cat food , Nestle Purina Petcare Co. held the largest share of the market in , generating over 2.2 billion U.S. dollars in dry dog food sales and around 1.37 billion U.S. dollars in dry cat food sales. During shopping trips for pet food, over half of surveyed U.S. owners claimed to specifically look for products which meet the health and nutrition standards of their pet. Other top considerations included whether the product was to their pet's taste and the price. Trends in human food consumption, such as a focus on calorie intake, can also be seen transitioning into the pet world; searches for "low calorie pet food" on Amazon grew by over 110 percent in in the United States. Searches for organic pet food, a buzzword in almost every consumer goods category, grew by 35 percent. New sales-driving opportunities can also be observed in cannabidiol (CBD) pet edibles.

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Pet Food - Worldwide | Statista Market Forecast

Global Market Size of the Pet Food Industry

Understanding the magnitude of the pet food industry on a global scale showcases the financial power this sector holds. In 2021, the global pet food market size was valued at approximately 97.3 billion USD and is anticipated to grow at a compound annual growth rate (CAGR) of over 4.6% from 2022 to 2030. This growth is fueled by increasing pet adoption rates and a growing focus on pet health and wellness.

Key Factors Driving Growth

• Humanization of Pets: More pet owners view their pets as family members, driving demand for higher quality, premium pet food products.
• Health and Wellness Trends: Echoing trends in human food markets, there is increased demand for organic, natural, and nutritious pet food options.
• Innovations and Product Development: Companies are continually introducing new products, such as CBD-infused pet treats, to meet diverse consumer preferences and create new revenue streams.

Regional Insights

North America holds the largest share of the pet food market, driven by high pet ownership rates and spending on premium pet care products. Europe ranks second due to strong regulatory frameworks ensuring high-quality standards in pet food production. Notable growth is also observed in the Asia-Pacific region, driven by increasing pet adoption and urbanization.

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