The expenditure on dogs in the country has increased in recent years. Being the largest pet food market in North America, the United States pet food market’s growth is attributed to the increase in pet ownership.Īccording to the 2019-2020 National Pet Owners Survey, conducted by the American Pet Products Association (APPA), 67% of US households (about 84.9 million families) own a pet, the maximum being dogs. North America Dominates the Petfood market. According to a study by ADM Outside Voice, 30% of dog owners worldwide spent a substantial amount of time in the previous year looking into the finest feeding options.The increasing consumer trend toward dog adoption drove dog food premiumization, which is anticipated to expand the dog food and ingredients market over the forecast period. Many consumers apply their preferences and values for purchases to their dogs. It serves as a marketplace where people may browse for pet-related services.Īccording to ADM, the humanization of pets gained more prominence and will continue to influence trends. Being the most pet-friendly institution and creating a location where dog parents can rely on are the goals of Woofwoofnow. Woofwoofnow, a global pet consultation portal, was founded in 2018. This is massively increasing the growth of the market studied. Most UK homes have a pandemic dog, with 38% admitting that it is just like having a new baby, which suggests the extent of pet humanization in the country. Largely driven by Gen Z and Millennials, two-thirds (59%) of new owners are aged 16-34, and 56% of new dog owners have children at home. As per the Pet Food Manufacturer’s Association (PFMA), in 2021, 3.2 million households in the United Kingdom acquired a pet since the COVID-19 pandemic. Thus, increasing pet humanization is anticipated to drive the market’s growth. A study conducted by the American Pet Products Association (APPA), under the National Pet Owners Survey (2020-21), revealed that more than 85 million households in the United States had one or more dogs, with 48% found in the homes. Pet humanization received a lot of attention in mainstream media over recent years globally. Due to increasing pet parenting, coupled with rising awareness of feeding pets with premium and packed pet food, the dog food market is anticipated to grow over the forecast period. ?Pain relief was the major source of revenue over the last decade, and this is anticipated to continue, while factors such as weight management, skincare, and digestive health are gaining importance and are anticipated to increase at higher rates during the forecast period.? For instance, obesity in pets is observed to be a significant health issue due to irregularity in pet food consumption and patterns. Ltd, a major pet food manufacturer in China, developed and launched a new line of dog food that will integrate OxC-beta, which helps in supporting immune function by providing a non-antibiotic means of promoting health, growth, and performance in animals. For instance, in 2020, Fwusow Industry Co. With the increasing demand for premium pet foods globally, several companies are planning to come up with high-quality dog food products to occupy major market shares in this segment. Premium pet foods are natural, organic, have higher quality, and are safer than regular pet foods. Dog foods account for 71% of the pet food sales in the US. The total number of pet dogs owned in the US is 83.3 million. According to the American Pet Products Association, 67% of US households owned a pet in 2019-2020, which is equivalent to 84.9 million homes, and this number is anticipated to rise further during the forecast period. There is an increase in the humanization of pets globally as pet owners are treating pets like their own family members. To address this demand, the players in the market have shifted their focus from retail stores to e-commerce platforms by increasing their investments in developing their own websites. On the other hand, demand for the dog food segment witnessed a steady growth in many parts of the world as people adopted more pets with the growing desire for companionship during the lockdown. 23, 2022 (GLOBE NEWSWIRE) - announces the release of the report "Dog Food Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)". Owing to the restrictions in the movement of raw materials, the dog food industry suffered initially in terms of supply and cash flow. COVID-19 exerted a negative impact on the supply chains. The Dog Food Market is projected to register a CAGR of 4.
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