Dry Pet Food Production in the US - Industry Market Research Report

Dry Pet Food Production in the US - Industry Market Research Report
Dry Pet Food Production in the US

Over the past five years, dry pet food producers have faced declining revenue, despite a spike in the total number of pets in the US as consumers sought companionship amid COVID-19 lockdowns. Supply issues for the industry's inputs made domestic production more expensive and encouraged overseas competitors to significantly boost their export volumes to US markets, bringing massive year-over-year increases in imports and intensified competition between producers. A strong rise in the total number of producers in the US brought even more competition, pressuring the industry's companies to drop prices and absorb a slight decline in revenue. Industry-wide revenue has been sinking at a CAGR of 0.9% over the past five years and is expected to total $15.5 billion in 2023, when revenue will stagnate.

The Dry Pet Food Production industry manufactures dry dog and cat foods, which are generally grain- and oilseed-based.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.