2024-2032 US Pet Food Market Report: Key Players & Insights

The “United States Pet Food Market Report by Dog Food, Cat Food, Other Pet, Distribution Channel, and Company Analysis 2024-2032” is now available from ResearchAndMarkets.com. The US pet food market is projected to grow from $42.90 billion in 2023 to $61.54 billion by 2032, with a CAGR of 4.09%.

Pet food is a carefully formulated product designed to meet the unique dietary needs of pets, including dogs, cats, birds, fish, and more. It combines proteins, carbohydrates, fats, vitamins, and minerals essential for pet health and well-being. The nutritional content is tailored to factors such as age, breed, size, and health condition, available in various forms like dry kibble, canned wet food, raw diets, and treats. Some pet foods address specific dietary needs like allergies, obesity, or medical conditions.

Pet Ownership Trends

According to the 2023-2024 APPA National Pet Owners Survey, 66% of US households, or 86.9 million homes, own at least one pet. Pet ownership is evenly spread across generations, with Gen Z and Millennials having similar numbers to Gen X and Baby Boomers. Pet ownership among Gen Z increased from 11% in 2018 to 16% in 2022, while Millennials rose from 31% in 2018 to 33% in 2022.

Dog Food Market

Dogs dominate the US pet food market, driven by their large population, with 65.1 million households owning at least one dog in 2023. The market is growing due to trends in pet humanization, leading to a demand for premium products like vegan and grain-free dog food. The dog food segment, influenced by ownership trends, consumer preferences, nutritional research, and regulations, is expected to grow rapidly, presenting opportunities for investors and stakeholders.

Cat Food Market

The cat food market is expanding, supported by increasing cat adoption rates. Cats are favored for companionship and lower maintenance costs. In May 2024, 46.5 million US households will own a cat, making them the second most popular pet after dogs. Between 2016 and 2022, dog ownership increased from 38.4% to 44.5%, and cat ownership rose from 25% to 29%. This growth in pet ownership and demand for premium pet products will drive the market. The rising popularity of cats offers new opportunities for pet food manufacturers and retailers.

Competitive Landscape

J.M. Smucker Co. sold several pet food brands to Post Holdings for $1.2 billion in September 2023.
General Mills, Inc. acquired Fera Pets, Inc., a pet supplement company, in November 2023, marking its entry into the pet supplement sector.
Tyson Foods made a strategic investment in insect protein startup Protix in October 2023.
Colgate-Palmolive expanded Hill’s Pet Nutrition’s Prescription Diet portfolio in January 2023.
Spectrum Brands, Inc. launched Meowee cat treats in August 2023.

Key Attributes

Report Length: 105 pages
Forecast Period: 2023-2032
2023 Market Value: $42.9 billion
2032 Market Value: $61.54 billion
CAGR: 4.0%
Region: United States

Company Analysis

Major Players: J.M. Smucker, General Mills (Blue Buffalo), Tyson Foods, Colgate-Palmolive, DS Holdings, Central Garden & Pet, Nestle, Archer Daniels Midland
Key Players: Kraft Heinz, Tyson Foods, Pilgrim’s Pride, Danish Crown, BRF, WH Group, Hormel Foods, Wens Foodstuff