Pet Food Production in the US - Industry Market Research Report

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

The Pet Food Production industry has fared well over the past five years. An increase in pet ownership has coincided with a growing tendency to treat pets as members of the family, thereby encouraging the purchase of higher-priced, premium pet food products that are marketed with special benefits, formulas or ingredients. In 2020, the industry benefited extraordinarily from the increase in pet ownership stemming from the COVID-19 pandemic, as many individuals and families spent more time at home. As a result, industry revenue is expected to grow at an average annual rate of 0.8% to $30.1 billion over the five years to 2023. However, as pet ownership declined following the spike in 2020, industry revenue contracted in 2022. In 2023, growth will resume with revenue rising 1.6%, lifting profit margins.

This industry primarily manufactures dog and cat food. Common ingredients include grains, oilseed mill products and meat products. This industry concentrates on dry and semi-moist dog and cat foods in cans or packaged otherwise. Feed for farm livestock is not included.

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.