The pet food market - United States

The global pet food market is flourishing, and forecasts for its development and evolution are equally promising, due to the growing importance attached to health and nutrition, and the increasing number of animals kept. In addition, more and more pets (especially dogs and cats) are overweight, increasing the demand for healthier food alternatives. Major players in the global pet food industry include The JM Smucker Co, Nestlé, Mars and Wagg Foods. It's worth noting that these companies operate in a highly concentrated market, where the six largest companies hold a dominant share, accounting for up to 75% of the industry's total sales. This concentration reflects the importance of these key players in the global supply of pet care products, and their influence on market trends and developments. These companies strive to maintain their dominant position by offering a diverse range of high-quality products to meet the varied needs of pet owners around the world. The United States is the world's largest pet food market, accounting for around 40% of sales in 2018. The average annual growth rate between 2018 and 2022 is 8.6%, driven by the growing number of pets and rising prices due to inflation and increasing demand for premium products The US pet food (dog and cat) and other pet food (all other) markets are both being hit by the same trend towards product premiumization. In particular, demand for natural foods for small mammals is on the rise. Overall, dog food generates the highest volume of sales, followed by cats and small mammals. The pet food market is one of the few markets to have benefited strongly from the COVID-19 epidemic; consumers bought many more pets, which mechanically increased sales of related products.