US Pet Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

US Pet Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The US pet food market size reached US$ 42.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 53.8 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028.

Pet food refers to the food product formulated to ensure palatability and meet the nutritional requirements of domesticated animals. Some of the ingredients used to prepare pet food are meat, peas, corn, barley, seafood, feed grain and poultry. Pet food also offers several health benefits, such as boosting immunity, improving life expectancy, maintaining a healthy weight, reducing the risk of skin ailments and allergies, and minimizing digestive disorders. In recent years, the humanization of pets has encouraged owners to treat their pets like family. The rising concern for pets' well-being and healthy growth has increased owner’s expenditure on nutritious pet food. Consequently, manufacturers are focusing on resourcing ethically viable products and incorporating changes in the manufacturing process.

US Pet Food Market Trends:
In the US, the increasing adoption of pets due to the high prevalence of family nuclearization represents the primary factor bolstering the pet food industry across the country. Besides this, with high-income levels and changing consumer preferences, the demand for packaged and branded pet food has increased across the country. Moreover, the wide availability of natural pet food and the emergence of e-commerce platforms have also augmented the market growth. Furthermore, the changing perceptions of pet ownership and growing awareness among pet owners about pet health have promoted the demand for nutrient-rich and energy-dense pet food products that are healthy and safe for consumption. As a result, numerous manufacturers have introduced organic and natural food products free from synthetic fertilizers, pesticides, antibiotics, artificial coloring, and chemical by-products. In addition, they have also developed innovative product variants with flavor enhancers and prolonged shelf life.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the US pet food market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on pet type, product type, pricing type, ingredient type and distribution channel.

Breakup by Pet Type:

Dog Food
Cat Food
Others

Dog food currently dominates the market, holding the largest share.

Breakup by Product Type:

Dry Pet Food
Wet and Canned Pet Food
Snacks and Treats

At present, dry pet food represents the largest segment as it is relatively cost-effective as compared to its counterparts.

Breakup by Pricing Type:

Mass Products
Premium Products

Amongst these, mass products account for the majority of the total market share.

Breakup by Ingredient Type:

Animal Derived
Plant Derived

Presently, animal derived ingredients exhibit dominance in the market, holding the largest share.

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Specialty Stores
Online
Others

On the basis of distribution channels, the majority of pet food is distributed through supermarkets and hypermarkets in the US.

Competitive Landscape:
The competitive landscape of the market has also been analyzed, with some of the key players being Nestlé Purina PetCare, Mars Petcare Inc., Big Heart Pet Brands, Hill's Pet Nutrition, Diamond Pet Foods and Blue Buffalo.

Key Questions Answered in This Report
1. What was the size of the US pet food market in 2022?
2. What is the expected growth rate of the US pet food market during 2023-2028?
3. What are the key factors driving the US pet food market?
4. What has been the impact of COVID-19 on the US pet food market?
5. What is the breakup of the US pet food market based on the pet type?
6. What is the breakup of the US pet food market based on the product type?
7. What is the breakup of the US pet food market based on the pricing type?
8. What is the breakup of the US pet food market based on the ingredient type?
9. What is the breakup of the US pet food market based on the distribution channel?
10. Who are the key players/companies in the US pet food market?