ROCKVILLE Md., November 17, 2021 / PRNewswire / – Pet food is not only the staple of pet products in what is known to be a recession-resistant market, it is also backed by the global resources of dominant market players such as Nestlé Purina, Mars, General Mills (Blue Buffalo) and Colgate -Palmolive (Hill’s Science Diets) .
Hence, as in Packaged Facts’ just published focus on the US pet market: Pet Food Update (November 2021) the pet food market not only survived COVID-19, it also thrived. Packaged Facts forecasts US retail sales of pet food (dog and cat) at $ 37.1 billion in 2021, 6.4% more than 2020. Sales should be achieved $ 47.9 billion in 2025, which equates to a robust average annual growth rate of 6.6%.
Corresponding David Sprinkle, Packaged Facts Research Director, the impact of the COVID-19 pandemic and a corresponding surge in pet care spending accelerated investments in the pet food industry, product development, marketing and retailing. As a result, COVID-19 has accelerated several existing trends that are expected to revitalize the pet food business for years to come:
- The claim of super-premium pet food is known as a premier pet health product, with natural formulations and science-based foods that are in high demand.
- The advancement of super premium pet food in non-traditional forms, especially fresh (chilled / frozen) and alternative protein / meatless / vegetarian.
- The pursuit of ethical ingredients by businesses and consumers, along with other sustainability initiatives such as environmentally friendly packaging.
- The erosion of the long-standing boundaries of the bulk / specialty / online channels that have given key brands as well as taken, defined and “exclusive”, but also made them less accessible and affordable.
Additionally, e-commerce trends are critical in the pet food sector, not just due to repeat and bulk purchases, but also due to a reorientation of the competitive landscape as part of the success of online-only pet product retailers like Chewy and Amazonas. Notable among traditional brick-and-mortar retail chains are increased activities such as “Buy Online, In-Store Pickup” (BOPIS), Roadside Pickup, and Same-Day / Two-Day Delivery programs.
About packaged facts
Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a variety of consumer market topics, including consumer demographics and buyer insights, consumer financial products and services, consumer goods and retail, and pet products and services. Packaged Facts also offers a full range of custom research services. Reports can be purchased from our corporate website and are also available through MarketResearch.com.
For more important insights from Packaged Facts, follow us on Twitter (@packaged_facts), LinkedIn and YouTube.
Media contact: [email protected]
Report purchases: [email protected]
SOURCE Packaged facts