the pet food market | United States

1.1 Definition and scope of the study

The pet food category includes food for dogs, cats, birds, fish, small reptiles and mammals. It is part of the broader feed category, which includes both pet food and farmed animal feed.

The main segments of the pet food market are identifiable by type of feed, and include:

• Wet
• Dry
• Snack & Treat

The global pet food market is thriving and projections of its development and evolution are also promising, driven in value by a growing focus on health and nutrition, and in volume by the progressively greater number of animals kept. In addition, more and more pets (in particular dogs and cats) are overweight, which increases demand toward healthier food alternatives.

Global market players include The JM Smucker Co, Nestlé, Mars, and Wagg Foods. These players face increased regulation, which serves as a barrier to potential growth.

The United States is the largest pet food market in the world, accounting for around 40% of sales in 2018. The US market for pet food (dogs and cats) and other pet foods (all other) are both struck by a trend involving premiumization. In particular, demand on natural foods for small mammals is increasing. Overall, dog food generates the highest volume sales followed by cat and small mammals.

Natural pet food is still a relatively small sub-segment of the industry; however, it is projected to be a key driver going forward as pet owners become more sensitive to what their animals eat.

The pet food industry is one of the few industries which have benefitted strongly from the COVID-19 pandemic; as consumers bought pets at an increasing rate, sales have also gone up. For instance, petfoodindustry projected a 4% increase in the US market size for pet food in 2020.

The pet food market is highly concentrated in the US; Nestlé, Mars, and JM Smucker accounted for almost 60% of all sales in 2019.