A $61.54 Billion Industry by 2032, Fueled by Increasing Demand for Premium Pet Ingredients and Treats

U.S. Pet Food Market

Dublin, June 25, 2024 (GLOBE NEWSWIRE) — The “United States Pet Food Market Report by Dog Food, Cat Food, Other Pet, Distribution Channel, and Company Analysis 2024-2032” report has been added to ResearchAndMarkets.com’s offering.

United States Pet Food Market will reach US$ 61.54 billion by 2032 from US$ 42.90 billion in 2023, with a CAGR of 4.09% all through 2024-2032.

Pet Meals isn’t just a meal; it’s a specifically crafted formulation designed to fulfill the unique dietary wishes of domesticated animals, consisting of dogs, cats, birds, fish, and others. It’s a balanced combination of proteins, carbohydrates, fats, vitamins, and minerals vital for pet growth, maintenance, and common well-being.

The nutritional profile of pet food is numerous and tailored to the pet’s precise wishes based totally on factors like age, breed, size, and fitness condition. It’s to be had in various bureaucracies, from dry kibble to canned wet meals, uncooked meal diets, and treats. Some puppy meals are formulated to deal with precise nutritional needs, including hypersensitivity reactions, obesity, or diseases like kidney or heart issues.

The 2023-2024 APPA National Pet Owners Survey located that 66% of US families personal at the least one pet, totaling 86.9 million families. Pet ownership is now lightly distributed throughout exclusive generations, with an identical variety of Gen Z and Millennial pet owners as Gen X and Baby Boomer pet parents for the first time.

The ownership of pets the various two youngest generations steadily elevated from 2018 to 2022. In 2018, 11% of Gen Z individuals owned a pet, which rose to 14% in 2020 and 16% in 2022. For Millennials, pet ownership changed into at 31% in 2018, expanded to 32% in 2020, and reached 33% in 2022.

Dog pet food market

The dominance of dogs within the United States pet food market may be attributed to their big population, which accounted for maximum of the overall pet populace in 2023. According to a 2023-2024 pet owners survey, 65.1 million families within the United States owned at the least one dog, making them the country most commonplace form of pet. The pet meals industry is experiencing boom due to the increasing trends of puppy humanization. This trend has led to a preference for top class pet products, along with vegan and grain-free dog meals.

The canine food market is a vital section of the pet food industry, catering to dogs’ dietary wishes and possibilities. It encompasses diverse brands, producers, vendors, and outlets providing numerous dog food alternatives. Pet ownership tendencies, buyer options, nutritional studies, and regulatory requirements impact the market. The forecast suggests that the dog food market is anticipated to be the quickest-growing section, providing a promising opportunity for investors and stakeholders within the dog food industry.

Cat Pet Food Market

The United States pet food market has noticeable an increasing market proportion for cats, with a growing population of cats being adopted as pets. This trend is attributed to the high demand for companionship and the lower expenditure on pet food as compared to different pets. The growth in pet humanization and the fact that cats require much less residing space than puppies have contributed to the growing recognition of cats as pets inside the country among 2018 and 2023.

In May 2024, 46.5 million US households, or approximately one in three, will personal a cat, making it the second maximum famous pet inside the country after dogs. As of 2022, 45.5% of U.S. Families own dogs, and 29% own cats. Between 2016 and 2022, the share of U.S. Families that personal puppies multiplied by using 6.1 percent factors, from 38.4% to 44.5%, even as the proportion of households that own cats increased with the aid of 4 percent points, from 25% to 29%. The upward trend in pet possession and the increasing demand for products which include premium pet ingredients and treats will growth the pet food market in the course of the forecast period. This developing popularity of cats as pets provides a completely unique marketplace section for puppy meals producers and stores to explore.

United States Pet Food Competitive Landscape

• In September 2023, J.M. Smucker Co. sold several pet food brands to Post Holdings for US$1.2 Billion. The deal included US$700 million in cash and around 5.39 million shares of Post Holdings’ common stock.

• In Nov 2023, General Mills, Inc. acquired Fera Pets, Inc., a veterinarian-founded pet supplement company, diversifying its pet portfolio with health-focused offerings. This marks General Mills’ debut in the pet supplement sector and the first acquisition by its newly established growth equity fund.

• In Oct. 2023, Tyson Foods revealed a strategic investment with insect protein startup Protix to expand insect ingredient usage in the food system. Tyson will acquire a minority stake in Protix with undisclosed financial terms.

• In Jan 2023, Colgate-Palmolive announced Hill’s Pet Nutrition’s expansion to enhance its Prescription Diet portfolio.

• In August 2023, Spectrum Brands, Inc., a leading supplier of exceptional value and quality pet products for dogs, birds, cats, fish, and small animals, announced the launch of Meowee cat treats.

Key Attributes:

Company Analysis: Overview, Recent Developments, Financial Insights

Key Players Analysis: Overview, Recent Developments, Financial Insights

Animal Type: United State Food Market breakup from two viewpoints

Dog Food – Market breakup from 4 viewpoints

• Dry Food

• Wet Food

• Snacks & Treats

• Others

Cat Food – Market breakup from 4 viewpoints

• Dry Food

• Wet Food

• Snacks & Treats

• Others

Other Pet- Market breakup from 4 viewpoints

• Dry Food

• Wet Food

• Snacks & Treats

• Others

Distribution Channel – Market breakup from 4 viewpoints

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