US Pet Food Market to Reach US$ 59.9 Billion by 2032, Stimulated by Increasing Adoption of Pets

January 10, 2022

According to the latest report by IMARC Group, titled “US Pet Food Market Report by Pet Type (Dog Food, Cat Food, and Others), Product Type (Dry Pet Food, Wet and Canned Pet Food, Snacks and Treats), Pricing Type (Mass Products, Premium Products), Ingredient Type (Animal Derived, Plant Derived), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online, and Others) 2024-2032,” the US pet food market reached a value of US$ 43.9 Billion in 2023. Pet food is highly nutritious and energy-dense food made specifically to meet the nutritional requirements of pets. It provides adequate nutrition to pets, which is essential for performing everyday activities, repairing muscles, teeth and bones, preventing infections and diseases, and keeping the skin and haircoat healthy and shiny. In the US, the emerging trend of pet parenting, coupled with the rising awareness regarding pet nutrition, has escalated the demand for pet food in the country.

US Pet Food Market Trends:

The market is primarily driven by the increasing adoption of pets due to the rising trend of nuclear families in the country. In addition, on account of the increasing disposable incomes and changing perceptions toward pet ownership, owners are treating their pets as family and are willing to spend more on their nutrition. Along with this, the growing awareness among pet owners regarding the harmful effects of chemical preservatives has prompted them to opt for pet food that is free from pesticides, artificial flavors, or genetically modified organisms (GMO). As a result, numerous manufacturers are introducing organic and natural food products that are free from synthetic ingredients, antibiotics, and chemical by-products. They are also developing innovative product variants with flavor enhancers and prolonged shelf life to cater to the needs of different pets, which represents another growth-inducing factor. Looking forward, IMARC Group expects the market value to reach US$ 59.9 Billion by 2032, expanding at a CAGR of 3.4% during the forecast period (2024-2032).

Market Summary:

  • Based on the pet type, the market has been segmented into dog food, cat food, and others. At present, dog food exhibits a clear dominance in the market.
  • On the basis of the product type, the market has been classified into dry pet food, wet and canned pet food, and snacks and treats. Amongst these, dry pet food holds the largest market share. 
  • Based on the pricing type, the market has been bifurcated into mass and premium products. Amongst these, mass products account for the majority of the total market share.
  • Based on the ingredient type, the market has been categorized into animal and plant-derived segments. Presently, animal-derived ingredients are the most popular ingredient type used in pet food. 
  • On the basis of the distribution channel, the market has been segregated into supermarkets and hypermarkets, specialty stores, online, and others. Presently, the majority of pet food is distributed through supermarkets and hypermarkets in the US.
  • The competitive landscape of the market has also been examined, 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.

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US Pet Food Market to Reach US$ 59.9 Billion by 2032, Stimulated by Increasing Adoption of Pets
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