US Pet Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 80.69 Billion |
| Market Size (2029) | USD 103.27 Billion |
| CAGR (2024 - 2029) | 5.06 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Pet Market Analysis
The United States Pet Market size is estimated at USD 80.69 billion in 2024, and is expected to reach USD 103.27 billion by 2029, growing at a CAGR of 5.06% during the forecast period (2024-2029).
- Being the largest pet market in North America, the United States pet market's growth is attributed to the increase in millennial pet owners and the shift in the way pets are viewed. According to the 2021-2022 APPA National Pet Owners Survey, 70% of households in the United States own a pet, which equates to 90.5 million homes. Millennials are the most popular generation to own at least one pet, in 2021 approximately 35% of millennials own at least one pet. Further, the recent rise of pet humanization wherein pets are treated with increased care and hygiene is proving to be a major driver for the market and is leading to major changes in product packing and resourcing of ethically viable products.
- The development of private label stores focusing on unique and locally sourced products to increase their overall appeal and the increasing density of nuclear families are the other major drivers of the market studied. The increase in penetration of the e-commerce sector has been proving to be a major opportunity for low-cost marketing for the innovative and novel product lines developed by these emerging companies.
- Furthermore, Americans have always been heavy spenders when it comes to their pets. The United States is home to the highest number of pet dogs and cats. Consequently, quality ingredients are of the utmost importance for American pet owners. With the increase in concern for pet health, the demand for pet food products is expected to have a high potential for growth.
US Pet Market Trends
Increase in the Number of Pet Owners and Increased Expenditures on Pets
With the growing ownership of pets, pet owners seem to increasingly spend on service packages with more options, including food and grooming options. The desire for improved pet care products and accessories, such as pet furniture increased, and this is owing to the growing importance of pets and their related services.
According to National Pet Owner's Survey (2021-2022) conducted by the American Pet Products Association (APPA), in the United States, almost 70% of United States households own a pet, which equates to 90.5 million homes an increase of approximately 6.5% from the year 2019, and this boomed the pet care spending which has resulted in a huge increase in products and services aimed toward affluent pet owners.
The rising aging population in the United States is one of the reasons driving the growth of the market studied, as pets are considered good companions for the elderly. Customization holds more appeal to the customers, as it adds a personal touch to the pet, and this factor is expected to play a large role in the growth of the pet market. Manufacturers are using organic or natural materials for manufacturing grooming products, such as shampoos, soaps, tick powders, etc. The introduction of advanced cost-effective and customized services, rising concerns towards pet care, and an increase in health expenditure for animals in the United States are leading to the growth in the market.
The Rise in Shift to Online Pet Product Sales
The millennial who now constitute most pet owners are people who spend long hours working. This drives the demand for convenience, such as online retail channels, in the purchase of pet products and services that they use. The internet is well suited for sales of info-centric health-related products, such as natural and organic products. Internet sales channels can communicate product benefits and detailed product information through websites, blogs, and social media. The largest pet food online retailers are Petsmart.com and Pecto.com, followed by other leading retailers like PetFlow.com, PetFoodDirect.com, PetFoodExpress.com, and PetSupermarket.com.
Many smaller marketers and retailers turn to the internet as a sales medium to increase their consumer range and demand. In 2020, Hungry Bark, a Hungry Pet Nutrition brand, launched its online website offering complete custom meal plans for dogs, composed of superfood-packed dry foods, vitamin supplements for wholesome health benefits, and protein mix-ins for added variety and nutritional boost. These Superfoods for Super Dogs include four recipes of quality dry dog food, three single protein mix-ins, and five tasty dog supplement chews that double as treats. The brand's mission is entirely focused on improving dogs' and their humans' lives through personalized nutrition, directly delivering to their customer's doors.
US Pet Industry Overview
The United States pet market is highly competitive, with the presence of many international players, such as Mars Inc., Nestle SA (Purina), Colgate Palmolive (Hill's Pet Nutrition), and Blue Buffalo Co. Ltd. These players engage in product launches, mergers, and acquisitions, as their market strategy to strengthen their position in the market.
US Pet Market Leaders
Nestle SA (Purina)
Colgate Pamolive (Hill’s Pet Nutrition)
The J.M. Smucker Company
Mars Inc
WellPet
*Disclaimer: Major Players sorted in no particular order
US Pet Market News
May 2022: Darling Ingredients Inc. (United States), completed the acquisition of Valley Proteins (United States), a leading producer of animal-based fats and by-product meals, based in the United States. This strategic initiative was intended to strengthen the product portfolio of the company and cater efficiently to the rising demand in the industry.
August 2021: Pure and Natural Pet, a United States-based pet care company, launched new and improved products to its award-winning line of grooming and health essentials. This new product includes USDA-certified organic 2-in-1 fragrance-free hypoallergenic shampoo and conditioner with no scent or odor, which is a great option for allergy-sensitive dogs and their owners.
July 2021: Nestlé Purina PetCare Co. invested USD 182 million to expand its pet care products' manufacturing facility in King William County, Virginia, US.
US Pet Market Report - Table of Contents
1. INTRODUCTION
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 Industry Attractiveness - Porter's Five Forces 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 By Pet type
5.1.1 Dog
5.1.2 Cat
5.1.3 Bird
5.1.4 Fresh Water Fish
5.1.5 Other Pet Types
5.2 By Product Type
5.2.1 Food
5.2.2 Supplies/OTC Medicine
5.2.3 Other Product Types
5.3 By Distribution Channel
5.3.1 Supermarket/Hypermarket
5.3.2 Specialty Stores
5.3.3 Online Retail Stores
5.3.4 Other Distribution Channels
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 Colgate Pamolive (Hill's Pet Nutrition)
6.3.4 The J.M. Smucker Company
6.3.5 WellPet
6.3.6 Diamond Pet Foods
6.3.7 United Pet Group Inc.
6.3.8 Blue Buffalo Co. Ltd
6.3.9 Pure and Natural Pet
6.3.10 Darling Ingredients Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
US Pet Industry Segmentation
A pet is an animal which is primarily tamed or domesticated, and kept as a companion or treated with care rather than as a working animal. For the purpose of the report, animals, such as dogs, cats, fish, and birds, that are groomed as pets are considered.
The United States Pet market is Segmented by Pet Type (Dog, Cat, Bird, Fresh Water Fish, and Other Animals), Product Type (Food, Supplies/OTC Medicine, and Other Product Types), and Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online Retail Stores, and Other Distribution Channels).
| By Pet type | |
| Dog | |
| Cat | |
| Bird | |
| Fresh Water Fish | |
| Other Pet Types |
| By Product Type | |
| Food | |
| Supplies/OTC Medicine | |
| Other Product Types |
| By Distribution Channel | |
| Supermarket/Hypermarket | |
| Specialty Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
US Pet Market Research FAQs
How big is the United States Pet Market?
The United States Pet Market size is expected to reach USD 80.69 billion in 2024 and grow at a CAGR of 5.06% to reach USD 103.27 billion by 2029.
What is the current United States Pet Market size?
In 2024, the United States Pet Market size is expected to reach USD 80.69 billion.
Who are the key players in United States Pet Market?
Nestle SA (Purina), Colgate Pamolive (Hill’s Pet Nutrition), The J.M. Smucker Company, Mars Inc and WellPet are the major companies operating in the United States Pet Market.
What years does this United States Pet Market cover, and what was the market size in 2023?
In 2023, the United States Pet Market size was estimated at USD 76.61 billion. The report covers the United States Pet Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Pet Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key trends in the United States Pet Market?
The key trends in the United States Pet Market are a) Pets are increasingly treated as family members, influencing spending habits and product preferences b) Smaller animals like reptiles and fish are gaining popularity alongside traditional cats and dogs
USA Pet Industry Report
The US pet market is on an upward trajectory, underscored by factors like increased disposable income, pet humanization, and urbanization. This growth is further fueled by millennials, who dominate the pet ownership demographic, driven by lifestyle choices and social media engagement. The shift towards e-commerce as the preferred distribution channel, offering convenience and a variety of services, has significantly impacted market dynamics. The resilience of the market is evident, with expectations of continued growth despite economic fluctuations and external factors. A comprehensive analysis of the US pet market reveals a robust industry, with detailed segmentation by pet type, ownership, product type, and services, providing insights into current trends and future prospects. Statistics for the US Pet Market share, size, and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Pet analysis includes a market forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.
