Pet Food Market Is in Cat Bird’s Seat

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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.

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SOURCE Packaged facts

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