The pet food market share in the US will post an incremental growth of USD 13.13 billion, progressing at a CAGR of 5.35% during the forecast period. The rising awareness of pet nutrition will offer immense growth opportunities to market vendors. The market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Pet Food Market in the US by Product, Distribution channel, and Type - Forecast and Analysis 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The pet food market in the US is segmented by product (dry pet food, wet pet food, and pet snacks and treats), distribution channel (offline and online), and type (dog food, cat food, and other small pet food).
The growth of the pet food market size in the US by the dry pet food segment will be significant during the forecast period. The growth of the segment is attributed to the high demand for dry pet food owing to factors such as easy transportation and storage as well as a longer shelf life than wet pet foods.
The rising awareness of pet nutrition will directly influence the sales of pet foods in the US. In addition, sustainability and biotechnology is one of the major pet food market trends in the US that will positively impact the market growth. However, factors such as stringent regulations will hamper the pet food market growth in the US.
The market is fragmented due to the presence of several players. Some of the major pet food market vendors in the US are Colgate Palmolive Co., General Mills Inc., JustFoodForDogs LLC, Manna Pro Products LLC, Mars Inc., Nestle SA, Spectrum Brands Holdings Inc., J.M. Smucker Co., Tyson Foods Inc., and Volkman Pet Products
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the pet food market in the US forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the pet food market share in the US.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the pet food market in the US.
Pet food industry growth across the US.