Market Trends of north america pet diet Industry
Growing pet humanization and increasing adoptions of cats, particularly by young adults and millennials, driving the cat population
- Cats as pets have been adopted in North America due to the high demand for companionship and less expenditure on pet food for cats compared to other pets. In the region, the number of cats as pets increased by 13.6% between 2017 and 2022 due to a rise in pet humanization and since cats require less space to live. For instance, in the United States, in 2020, 26% of households owned a cat as a pet.
- The United States, Canada, and Mexico witnessed high adoption of cats as pets after the COVID-19 pandemic because there was an increase in pet ownership stimulated by remote work. A higher number of pet owners belong to the millennial generation. For instance, in 2022, millennials accounted for 33% of pet parents in the United States, and in 2020, 40% of the cat pet population was adopted from animal shelters in the United States. Pet parents with high incomes also purchased cats from pet stores, and in 2020, 43% of cat parents in the United States purchased cats from pet stores. Therefore, the cat pet population in North America increased by 5.34% between 2020 and 2022.
- There is a higher adoption of young cats in the United States as compared to adult cats by pet parents. For instance, in 2021, the adopted cat population in the United States was about 684,144, and young cats accounted for 53.5% of the cats adopted in the country. The higher population of millennials being pet parents is expected to help in the growth of veterinary diets during the forecast period as cats will be older in the coming years. Factors such as an increase in the adoption and purchase of cats and an increase in pet humanization are expected to help the growth of the pet population which in turn help in the growth of the pet food market in the region.
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The veterinary cost is the second-highest expense incurred by pet parents in North America while increasing premiumization is driving pet expenditure in the region
- An increasing trend in pet expenditure is being witnessed in North America. The rise in pet expenditure is due to the availability of different types of pet food and the growing premiumization of pet food products in the United States and Canada. Pet parents are also spending on premium segments such as customized pet food and natural as well as organic pet food in the region.
- The veterinary cost is the second-highest expense incurred by pet parents in North America. Pet parents, particularly dog owners, provide their pets with veterinary diets in their initial days and services such as pet grooming and pet walking for better care of the pets, along with adequate nutrition. In 2022, the veterinary expenditure was 26.4% of the annual expenditure on pets in the United States. In Canada, pet parents have an annual expenditure, including other services, of about USD 960 for their dogs and USD 711 for cats, as people are willing to spend more on veterinary services than other expenses. In the United States, about 40% of pet parents purchased premium pet food, while USD 11.4 billion was spent on services such as pet grooming and pet walking in 2022.
- Pet parents purchase pet food through online retailers, supermarkets, and pet stores. Pet food sales are higher through online retailers as pet parents have access to a vast number of pet food products available on e-commerce sites, and the pandemic increased online orders. For instance, in the United States, online sales of pet care products, including food, increased from 32% in 2020 to 40% in 2022.
- Premiumization and rising awareness about the benefits of quality food are factors anticipated to have helped in increasing pet expenditure in the region.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Growing adoption of dogs from animal shelters and evolving pet ecosystem driving the dog population in North America
- Low maintenance and comfortability are driving the adoption of other pet animals
