The latest report by IMARC Group titled, “US Pet Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the US pet food market has grown at a CAGR of 5% during 2009-2016, reaching a value of US$ 24.8 Billion in 2016. Pet food is made with animal grade ingredients which are fit for the consumption of animals. As each animal is different, its nutrition requirement and digestion capacity also varies accordingly. Considering this, pet food companies are introducing pet food products which keep the animals satiated, along with supplying them with essential nutrients. According to the report, the market for pet food in the United States is further expected to exhibit a CAGR of 4.8% during 2017-2022, reaching a value of US$ 32.9 Billion by 2022.
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Highlights of the US pet food market:
- Manufacturers are introducing pet food products to keep the pet animals satiated and healthy.
- A trend in pet-ownership has encouraged the market growth.
- The market is broadly divided into dog food and cat food market.
Currently, the pet food market in the United States is driven by rise in pet-ownership. Along with this, a trend in pet humanisation has also increased, whereby pets are increasingly cared for according to their own dietary needs, premium foods and human aesthetic standards. This has pushed the demand for pet foods in the region further. Apart from this, the health of the pets, particularly the increasing cases of animal obesity, is also a matter of grave concern for the pet owners. To prevent their pets from the ailments caused by ill-dietary habits, the pet-owners are driven towards buying organic and natural pet food, which is designed specifically following the food and safety parameters. Some of the other factors which have influenced the growth of the market include lifestyle trends, growing urbanization, consumer awareness and an increase in pet population.
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The US pet food market is broadly divided into dog food and cat food. As a result of increasing trend of dog-ownership, dog food represents the biggest segment of the US pet food market. Dog food is followed by cat food and others which include bird food, fish food, and small mammal/reptile food. On the basis of product type, the market is segmented as dry pet food, treats and mixers, and wet pet food. An analysis of the competitive landscape provides details of the major players operative in the market. Some of the key players include Nestle Purina Petcare, Mars Petcare Inc., Big Heart Pet Brands, Hill's Pet Nutrition, Diamond Pet Foods and Blue Buffalo.
The report by IMARC Group has examined the US pet food market on the basis of:
Market by Pet Type:
- Dog Food
- Cat Food
- Others
Market by Product Type:
- Dry Pet Food
- Treats and Mixers
- Wet Pet Food
Key Players:
- Nestlé Purina PetCare
- Mars Petcare Inc.
- Big Heart Pet Brands
- Hill's Pet Nutrition
- Diamond Pet Foods
- Blue Buffalo
Find more related reports on Food and Beverages Industry: http://www.imarcgroup.com/categories/food-beverages-market-reports
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