Market Trends of united states pet food Industry
The increase in the number of people seeking cats as companion pets among millennials is leading to the growth of cat adoption in the country
- The cat population in the United States is increasing. Cats as pets are being adopted in the country due to the high demand for companionship and less expenditure on pet food than other pets. In the country, the share of cats as pets increased by 10.8% between 2017 and 2022 due to a rise in pet humanization and because cats require less area to live than dogs. For instance, in the United States, 26% of households owned a cat as a pet in 2020, which increased to 53.5% in 2022.
- The United States witnessed higher adoption of cats as pets during the pandemic because of the work-from-home culture, leading to a demand for companionship and a higher number of millennials becoming pet owners. For instance, in 2022, millennials comprised 33% of pet parents in the United States, and in 2020, 40% of the cat population was adopted from animal shelters. In 2020, 43% of pet parents purchased cats from pet stores in line with high incomes in the United States. Therefore, cats as pets in the country increased by 4.5% between 2020 and 2022.
- Cat parents treating their cats as a part of their family accounted for 76% of cat owners between 2017 and 2018. This is expected to help in the growth of pet products, including pet food, as pet parents want to provide their pets with nutritious, specialized pet food. People also gifted cats to their loved ones, accounting for 3% of cat owners in the United States in 2021.
- Factors such as an increase in the adoption and purchase of cats and an increase in pet humanization are expected to boost the growth of the pet population. The increase in pet population is expected to drive the growth of the pet food market in the country.
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Easy availability of e-commerce platforms and premium pet food products leading to an increase in pet expenditure
- Pet expenditure in the United States has been on a steady increase over the years. The overall pet expenditure increased from USD 123.6 billion in 2021 to USD 136.8 billion in 2022, representing a 10.7%. This rise in pet expenditure was due to the growth in the number of pet parents, the availability of different types of pet food, and growing pet food premiumization in the country. For instance, the number of households owning a pet in the United States increased from 84.9 million in 2020 to 86.9 million in 2022.
- Pet food and snacks accounted for 42.4% of the total pet expenditure, valued at about USD 58.1 billion in 2022. They are anticipated to reach USD 62.7 billion by 2023, driven by pet humanization and recognition of the benefits of pet food and treats. Dogs consume more food than cats, resulting in a higher food expenditure share for dogs. Pet owners seek premium pet food and services like grooming and daycare to ensure good care for their pets. In 2022, over 40% of pet owners purchased premium pet food, and USD 11.4 billion was spent on services such as pet grooming and walking.
- Pet parents鈥痯urchase pet food through online retailers, supermarkets, and pet stores. Sales through specialty stores and online retailers increased due to the vast number of pet food products available on e-commerce platforms and the pandemic. The share of pet food sales through online channels in the country grew from 20.4% in 2019 to 21.5% in 2022.
- Growing awareness of the benefits of quality food and the premiumization of pet food products are anticipated to continue driving pet expenditure in the country.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Evolving pet ecosystem and rising availability of different channels for dog adoption driving the market in the country.
- Low maintenance and adaptability to smaller living spaces lead to an increase in the adoption of other pets
