|Study Period:||2016 - 2026|
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The North America pet food market is projected to register a CAGR of 5.7% during the forecast period (2021-2026).
Most of the consumers in the market grappled with the onset of the Covid-19 pandemic, in terms of stockpiling pet food products, by switching to the e-commerce retail platforms after being compelled by several restrictions levied on the brick-and-mortar stores and the disruption of the overall supply channel, in general. However, major players have shifted their focus from retail stores to e-commerce platforms by increasing their investments in developing own websites. Hence, this pandemic doesnot affect much on this market.
Rising humanization of pets and awareness of pet foods with high nutritional benefits have affected consumer purchasing decisions. According to the American Pet Products Association, 67% of United States households own a pet in 2019-2020, which is equivalent to 84.9 million homes and is anticipated to rise further during the study period. This indicates the rising opportunity for pet food as the pet ownership trend in the market studied is increasing. The rise in the number of millennial pet owners and the shift in the way pets are viewed which directly driving the pet food market growth. The online retail channels represent the fastest-growing segment for pet food sales in the region owing to the convenience factor for the purchase of pet products. Mars Inc, Nestle SA (Purina), Colgate Pamolive (Hill’s Pet Nutrition) and J M Smuker Big Heart are some of the prominent players who are operating in this market
Scope of the report
Pet food includes dry food, wet foods, snacks, nutrtious food which is used for pet animals as food. The North American pet food market is segmented by Pet type into dog, cat, bird, and other animals and based on Product types into dry pet food, wet pet food, veterinary diets, treats & snacks, and other products and by distribution channel into specialty stores, supermarket/hypermarket, online channel, and other distribution channels and by countries such as United States, Mexico, Canada and rest of North America.
|Other Pet Type|
|Dry Pet Foods|
|Wet Pet Foods|
|Treats & Snacks|
|Other Distribution Channels|
|Rest of North America|
Key Market Trends
Rising Trend of Pet Humanization
The pet-loving lifestyle of the millennials and X generation is changing the way pets are being treated. Growing ownership of pets is largely due to change in culture and technological advancements such as online purchasing choices are some of the factors driving the pet food market in the region. Additionally, the pet humanization trend has led to an increase in health consciousness and has generated demand for pet food. According to the American Pet Products Association, the number of households owning pets is rising over the years. In 2019, there were 63.4 million households owning dog and cat was 42.7 million. An increase in the number of pet owners and the growing tendency towards healthy food is driving the market.
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Increasing Consumer Spending Drives the Market
Pet owners growing fondness for the pets is making them spend more on healthy pet food products. Spending on pet food continues to make up the majority of dollars spent in the industry. According to the American pet product association, in 2020, pet food recorded the highest sales by reaching a value of USD 38.4 billion. Within the pet food, sales of dry dog food segment rank highest followed by wet and dry cat food. According to American Pet Product Association, for the financial year 2019-2020 basic annual expenses for dog and cat food was USD 259.0 & USD 228.0 and on food treats for dog and cats was USD 76.0 & USD 58.0 respectively in the United States. Increased spending on food has driven pet food sales in the United States market.
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The North America pet food market is consolidated with the top global players occupying a major share in the market. The major players in the market include Mars, Inc., Nestle Purina Petcare Company, Colgate-Palmolive Company (Hill's Pet Nutrition, Inc.), The J.M. Smucker Company Nutro, Harringtons Pet Food, and Blue Buffalo Pet Products, Inc., among others.
In Feb 2020, Nestle Purina expanded its Clinton, Iowa, factory. This is anticipated to allow Purina to meet growing demand from pet owners for nutritious, science-based dog and cat foods using high-quality and trusted ingredients.
In May 2018, JM Smucker acquired Ainsworth Pet Nutrition LLC, which is a marketer and distributor of pet snacks, for USD 747.0 million. This acquisition has strengthened the company's position in dog and cat snacks, due to the presence of the Rachel Ray Nutrish brand.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Pet Type
5.1.4 Other Pet Type
5.2 Product Type
5.2.1 Dry Pet Foods
5.2.2 Wet Pet Foods
5.2.3 Veterinary Diets
5.2.4 Treats & Snacks
5.2.5 Others Products
5.3 Distribution Channel
5.3.2 Specialty Stores
5.3.3 Online Channel
5.3.4 Other Distribution Channels
5.4.1 United States
5.4.4 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Mars Inc
6.3.2 Nestle SA (Purina)
6.3.3 Hill's Pet Nutrition, Inc.
6.3.4 United Petfood
6.3.5 Diamond Pet Foods
6.3.6 Diana Group
6.3.8 InVivo NSA
6.3.9 The J.M. Smucker Company (Big Heart Pet Brands, Inc.)
6.3.10 LUPUS Alimentos
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. ASSESSMENT OF COVID-19 IMPACT ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The North America Pet Food Market market is studied from 2016 - 2026.
What is the growth rate of North America Pet Food Market?
The North America Pet Food Market is growing at a CAGR of 5.7% over the next 5 years.
Who are the key players in North America Pet Food Market?
Mars, Hill's Pet Nutrition, Inc., Nestle Purina Petcare Company, Nutro, Harringtons Pet Food are the major companies operating in North America Pet Food Market.