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Health and well-being of pets are the corner stone of growing pet food market. - Actual Market Research
May, 19
2020

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Health and well-being of pets are the corner stone of growing pet food market. - Actual Market Research

 

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The North American pet care market is booming owing to higher pet adoption. There are many developed and underdeveloped countries in the North American region out of which the US has the largest market share. As we go to segment wise market share pet food is leading the North American pet care market. It is specially made and manufactured for specific pets such as dogs, cats, birds, rabbits etc. Every pet has its own dietary requirement for a healthy life. Homemade food which is fed to pets does not contain all the basic required nutrition that can be found in specialized pet food. Basic nutritional requirements such as vitamins, carbohydrates, essential oils, fatty acids, proteins are included all in special pet food which has led the pet food market to rise in the North America. Pet food comes in various forms like dry food, wet food, semi moist food, canned food and snacks and treats. Providing snacks and treats to pet apart from their regular meal is now a trend as people think that pets should be rewarded. Meat, beef are excellent source of protein for pets but due to rising concerns over various existing and transmitted diseases in pets due to unhygienic food and animal derived food has increased the market for organic and natural pet food. Some of the biggest pet care companies like Mars pet care inc, Blue buffalo, Nestle Purina have shifted their focused to more natural and organic pet food products.

Market Insights

As per the report “North America Pet Food Market Research Report, 2022-2027” published by Actual Market Research the findings show that the pet food segment of the market has been enjoying prominent success in the pet care market with its largest presence. The market was valued around USD 64 Billion in 2021 and it is expected to expand with 3.8% CAGR for 2022-2027. The growth is expected in the near future as people are aware about foods impact on pet’s health and well being. The focus of pet food industry in North America has shifted towards natural, organic and grain free products. The growth of the E-commerce segment has substantially increased the market share of the pet food segment as people can now choose over many products, compare the ingredients and price and can purchase the suitable product at below the price of the retailer at their convenience sitting at home. Middle class country people do not purchase large packs of packed food so the market for small sized packaged and economical products is increasing.

Market Innovations

The pet food segment has largely affected by new innovations. As people are becoming aware of the increased demand of natural, organic and grain free pet food products, the market growth has risen. One of the major trend is going on in the market is hierarchical pet food products. This type of food products are specially designed for dog breeds of different ages. Different stage of life requires different nutrition for healthy life and this product targets this. Another trend is going on in the market is ketogenic diet for pets. The ketogenic diet (or keto diet) is a low-carbohydrate, high-fat diet that offers much health benefits.In fact; this type of diet can help pet in weight loss and improvement in health. There are several benefits of a ketodiet for humans and many of the benefits are seen in pets also. With the rise of diseases like diabetes, cancer, and obesity in pets, a keto diet can help them reducing the chronic inflammation and it can also improve the metabolism of pets which was affected by the above mentioned diseases. The trend which is coming out in the pet food segment in North America is the organic pet eateries. In this concept various stores are established as eateries. In these stores, menu is provided to the owner to choose from as the store offers beef, lamb, chicken, turkey and other seasonal meats like venison.