DUBLIN, June 20, 2023 /PRNewswire/ -- The "United States Pets Food Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
United States Pet Food Market will reach US$ 62.41 Billion by 2028 from $45.11 Billion in 2022, growing at a CAGR of 5.56%
Innovative manufacturing technology, such as automating formulation, batching, drying, coating, and liquid delivery, is helping companies achieve cost efficiency and ensure product quality.
According to American Pet Product Association (APPA), National Pet Owners' data shows 90.5 million households in America own a pet, equivalent to almost 70% of homes in 2021-2022. The U.S. pet food market is categorized into different varieties such as Dogs food, Cat food, and other food (Bird Food, Fish Food, and Small Mammals/Reptiles Food) Market.
In addition, the humanization of pets has encouraged owners to treat their pets like family. The increasing concern for pets' well-being and healthy growth has increased owners' expenditure on nutritious pet food. Furthermore, increased pet humanization, rapid urbanization, high-income levels, changing consumer behavior, the broad availability of natural pet food, rising awareness of pet nutrition, and the emergence of an e-commerce platform have driven the growth of the U.S. pet food market.
However, the United States pet food market has highly regulated, which involves considerable compliance costs to manufacturers in terms of certification, equipment maintenance, and personnel training expenses has restrained the U.S. pet food market.
Dry Dog Food holds the Largest Market Share
Dry Dog Food holds the largest market share because the high demand for low carbohydrate diet and protein, grain-free pet food is the fastest growing areas of the U.S. pet food industry, the launch of dog treats and nutrition-rich food, a High amount related to the maintenance and well-being of dogs, and rising consumer awareness regarding pet health has led to another specific reason contributing to the growth of the segment.
Furthermore, Dry Cat Food also holds the significant revenue in the forecast period due to owning more than one cat witnessing consonant growth. In addition, cats require less training than dogs and can spend more time alone. Besides, the cost of owing cats is relatively low compared to that of dogs.
Amino Acids is Predicted to Dominate the Revenue in the Forecast Period
Based on Ingredients, Amino Acids is expected to dominate the revenue in the forecast period due to the rising consumption of food of animal origin, high-quality protein, and omega-3 fatty acids.
When added to food, these substances increase the nutritional value of the feed and provide benefits such as increased growth rate, increased protein digestibility, enhanced feed conversion, enhanced immune system, decreased mortality of aquatic species, increased yield in animal products, efforts to ensure quality and standardization, and protection of animal health stand out as the main factor boosting the market.
Thus, it is anticipated that raising awareness among pet food manufacturers of the nutritional benefits of protein-rich ingredients will increase the supply of these ingredients.
Key Players Analysis
General Mills (Blue Buffalo)
Central Garden & Pet
Key Topics Covered:
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
5. United States Pet Food Market
6. Market Share - United States Pet Food Analysis
6.1 By Animal
6.2 By Type
6.3 By Ingredients
7. Animal - United States Pet Food Market
8. Type - United States Pet Food Market
8.1.1 Dry Dog Food
8.1.2 Wet Dog Food
8.1.3 Frozen/Refrigerated Dog Food
8.1.4 Dog Biscuits/Treats/Beverages
8.2.1 Dry Cat Food
8.2.2 Wet Cat Food
8.2.3 Frozen/Refrigerated Cat Food
8.2.4 Cat Biscuits/Treats/Beverages
9. Ingredients - United States Pet Food Market
9.1 Amino Acid
9.5 Mycotoxin Detoxifier
9.7 Speciality Proteins
10. Key Players Analysis
For more information about this report visit https://www.researchandmarkets.com/r/p91f0s
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SOURCE Research and Markets