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According to the latest report by IMARC Group, titled “US Pet Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the US pet food market reached a value of US$ 40.56 Billion in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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$ 51.51 Billion by 2027, expanding at a CAGR of 4% during the forecast period (2022-2027).
Market Summary:
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