The Pet Food Production industry has fared well over the past five years. An increase in pet ownership has coincided with a growing tendency to treat pets as members of the family, thereby encouraging the purchase of higher-priced, premium pet food products that are marketed with special benefits, formulas or ingredients. In 2020, the industry benefited extraordinarily from the increase in pet ownership stemming from the COVID-19 pandemic, as many individuals and families spent more time at home. As a result, industry revenue is expected to grow at an average annual rate of 0.8% to $30.1 billion over the five years to 2023. However, as pet ownership declined following the spike in 2020, industry revenue contracted in 2022. In 2023, growth will resume with revenue rising 1.6%, lifting profit margins.Feline fine: Rising disposable income will enable more consumers to afford to own and care for pets, benefiting the industry
This industry primarily manufactures dog and cat food. Common ingredients include grains, oilseed mill products and meat products. This industry concentrates on dry and semi-moist dog and cat foods in cans or packaged otherwise. Feed for farm livestock is not included.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
ABOUT THIS INDUSTRY
INDUSTRY PERFORMANCE
PRODUCTS & MARKETS
COMPETITIVE LANDSCAPE
OPERATING CONDITIONS
KEY STATISTICS
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Mars Inc.
- Nestle Sa
- J.M. Smucker Co
- Colgate-Palmolive Company
- Diamond Pet Company
Methodology
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