Revealed: Sept. 15, 2022 at 1:05 PM MDT|Up to date: 11 hours in the past
ROCKVILLE, Md., Sept. 15, 2022 /PRNewswire/ — US retail gross sales of canine and cat meals approached $40 billion in 2021, up 15% over 2020, in response to Packaged Details’ just-released Pet Meals within the US (September 2022). Over the 2017-2021 interval, canine and cat meals garnered a compound annual progress charge (CAGR) of 11%.
Current inflationary costs for pet meals solely partially spurred that progress. If the pet meals market will not be wholly proof towards arduous instances, it is very hardily resistant, as confirmed within the wake of COVID.
Double-digit gross sales progress 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 at the moment epitomized by the success of the contemporary (refrigerated/frozen) pet meals class. Contemporary 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 properly. 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 Contemporary Chef refrigerated pet food line in December 2021and bought DTC contemporary pet meals marketer NomNomNow in January 2022.
Extra broadly talking, “common” formulation is not chopping it for pet meals gross sales progress. 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 result of elevated pet-health consciousness on this age of COVID.
Furthermore, Packaged Details experiences that 38% of canine homeowners and 36% of cat homeowners like the concept of pet meals backed by scientific analysis. Hill’s Pet Diet, the pioneer of veterinary medical vitamin with Hill’s Prescription Food regimen pet meals, noticed full-year web gross sales for the pet meals rising 14% to $3.3 billion. An vital focus for Hill’s, and a buzzword pet industry-wide, is the microbiome.
One among most placing features of the present wave of science-based pet meals, in response to 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—”Contemporary. Healthful. Vet-Authorized”—exemplifies this product innovation present.
Packaged Details, a division of MarketResearch.com, publishes market intelligence on a variety of shopper market subjects, together with shopper demographics and shopper insights, shopper monetary services and products, shopper items and retailing, and pet services and products. Packaged Details additionally presents a full vary of customized analysis providers. Studies could be bought at our firm web site and are additionally accessible by means of MarketResearch.com.
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