ROCKVILLE, Md., Sept. 15, 2022 /PRNewswire/ — US retail gross sales of canine and cat meals approached $40 billion in 2021, up 15% over 2020, based on Packaged Information’ just-released Pet Meals within the US (September 2022). Over the 2017-2021 interval, canine and cat meals garnered a compound annual development charge (CAGR) of 11%.
Latest inflationary costs for pet meals solely partially spurred that development. If the pet meals market isn’t wholly proof in opposition to arduous occasions, it is very hardily resistant, as confirmed within the wake of COVID.
Double-digit gross sales development within the pet meals market—giant and ostensibly mature as it’s—is pushed by ongoing product premiumization, if not “superpremiumization.” This long-running development is presently epitomized by the success of the contemporary (refrigerated/frozen) pet meals class. Recent pet meals tilts towards human-grade in formulation and to direct-to-consumer (DTC) gross sales in distribution, albeit now trending quickly into brick-and-mortar as effectively. It is a market revolution, not evolution.
The writing on the wall for contemporary pet meals is extra like a flashing neon Instances Sq. billboard. Refrigerated pet meals pioneer Freshpet is projecting 2025 income within the $1 billion to $1.25 billion vary. Sealing the deal on the way forward for contemporary, Mars launched its Cesar Recent Chef refrigerated pet food line in December 2021, and bought DTC contemporary pet meals marketer NomNomNow in January 2022.
Extra broadly talking, “common” formulation is not reducing it for pet meals gross sales development. Solely half of canine and cat homeowners use common/grownup formulation pet meals, in tandem with heightened pet proprietor consideration to the well being and wellness wants of pets.
On this vein, pet meals gross sales are benefiting from a reinvigorated concentrate on superpremium, science-based diets and treats—partly within the wake of the DCM (Dilated Cardiomyopathy) pet food scare, however extra broadly as a consequence of elevated pet-health consciousness on this age of COVID.
Furthermore, Packaged Information studies that 38% of canine homeowners and 36% of cat homeowners like the thought of pet meals backed by scientific analysis. Hill’s Pet Diet, the pioneer of veterinary scientific diet with Hill’s Prescription Eating regimen pet meals, noticed full-year internet gross sales for the pet meals rising 14% to $3.3 billion. An necessary focus for Hill’s, and a buzzword pet industry-wide, is the microbiome.
One in all most putting elements of the present wave of science-based pet meals, based on Pet Meals within the US. creator Shannon Brown, is the overlap of the “pure” and “vet-formulated” themes for product positioning, together with within the DTC area. Vet’s Kitchen canine and cat meals—”Recent. Healthful. Vet-Accepted”—exemplifies this product innovation present.
About Packaged Information
Packaged Information, a division of MarketResearch.com, publishes market intelligence on a variety of shopper market matters, together with shopper demographics and shopper insights, shopper monetary services and products, shopper items and retailing, and pet services and products. Packaged Information additionally gives a full vary of customized analysis companies. Studies will be bought at our firm web site and are additionally accessible by means of MarketResearch.com.
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