Market Trends of north america pet nutraceuticals Industry
The increasing adoption of cats by young adults and millennials is driving the cat food market
- There is an increase in the adoption of cats as pets in North America owing to the high demand for companionship and lesser expenditure on pet food for cats than dogs. In the region, cats as pets increased by 13.6% between 2017 and 2022 due to a rise in pet humanization and because cats require less area to live than dogs. For instance, in the United States, households owning a cat as a pet was 26% in 2020, which increased to 53.5% in 2022.
- The United States, Canada, and Mexico witnessed higher adoption of cats as pets during the pandemic because of the work-from-home culture leading to a demand for companionship and a higher number of pet owners being millennials. For instance, in 2022, millennials amounted to 33% of pet parents in the United States. In 2020, 40% of the pet cat population was adopted from animal shelters in the United States. Additionally, pet parents purchased cats from pet stores due to high income, and in 2020, 43% of cat parents in the United States purchased cats from pet stores. Therefore, cats as pets in the region increased by 5.34% between 2020 and 2022.
- Young cats are being adopted more than adult cats in the region, with the United States leading in terms of that number. For instance, in 2021, the adopted cat population in the United States was 684,144, and young cats accounted for 53.5% of the cats adopted. The higher population of young cats and millennials being pet parents is expected to help in the growth of pet food products during the forecast period. An increase in the adoption and purchase of cats and an increase in pet humanization are expected to help in the growth of the pet population.
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Dogs accounted for higher expenditure as they consume a larger quantity of food than cats and have higher susceptibility to digestive issues
- Pet expenditure is increasing 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 expenditure is projected to increase as pet parents increasingly treat their pets as family members and the awareness about specialized pet food rises. In 2020, there was a rise in pet supplement sales by about 200% as pet parents wanted their pets to have higher immunity and improved digestive systems, in line with greater awareness about pet health needs.
- The highest expenses of pet parents are on pet food, which is estimated to increase during the forecast period. For instance, pet food accounted for 42.4% of pet expenses in the United States in 2022. The expenditure share of dog food is higher than that of cats because the dog population is higher and because they consume a larger quantity of food than cats. Pet parents provide premium pet food to their pets and use services such as pet grooming and pet daycare in the region as they consider them as family members. In the United States, about 40% of pet parents purchased premium pet food, and 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. Higher pet food sales are generated through online retailers as a variety of pet food products are available on e-commerce sites; also, the pandemic increased the number of online orders. 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 boost pet expenditure in the region.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Growing acquisition of dogs from animal shelters and the evolving pet ecosystem are boosting the market growth
- Low maintenance and comfort are driving the adoption of other pets
