US Pet Market 2024–2033

Reports Description

US Pet Market was valued at USD 46.8 Billion in 2024 and is expected to reach USD 81.8 Billion by 2033, at a CAGR of 7.6% during the forecast period 2024 – 2033.

The pet industry includes a wide range of products, services, and activities involving companion animals. It’s a diversified industry that meets the requirements and desires of pet owners, who frequently see their pets as a valuable part of their families.

US Pet Market: Growth Factors

Rise in e-commerce industry

The emergence of e-commerce has had a huge impact on the US pet market, altering customer behaviour, increasing product accessibility, and promoting convenience. With the ease of internet purchasing, pet owners can explore and purchase a wide choice of pet supplies from the comfort of their own homes.

This greater accessibility has resulted in a rise in pet goods sales, including food, accessories, medicines, and grooming supplies. Furthermore, e-commerce platforms provide a greater range of specialized products and specialist items that may not be available in traditional retail locations, appealing to pet owners’ different wants and tastes.

The ease of doorstep delivery and subscription services adds to the attractiveness of online shopping for pet items, saving time and effort for busy pet owners. As a result, the e-commerce boom has fuelled expansion in the US pet sector, broadening its reach and increasing demand for a wide range of pet-related items and services.

The e-commerce market in the United States is somewhat fragmented. Amazon, Walmart.com, and BestBuy.com are the leading online merchants in the United States e-commerce sector.

Rising millennial population

The expanding millennial population in the United States has had a tremendous influence on the pet sector, fuelling significant expansion and innovation. Millennials, who frequently put off typical life milestones like marriage and property, are increasingly turning to pet ownership to meet their emotional and companionship demands.

This demographic group prioritises experiences, health, and well-being, resulting in a trend towards luxury pet goods and services. Furthermore, millennials value convenience and technology, resulting in the proliferation of pet tech products like as smart feeders, GPS trackers, and health monitoring gadgets.

Furthermore, the impact of social media has boosted pet ownership trends, with millennials routinely uploading images and videos of their dogs on platforms like Instagram and TikTok, increasing demand for pet-related products and experiences.

As a result, the pet market in the United States has grown steadily, with a varied range of offers tailored to the interests and lifestyles of this increasing population sector. Millennials were the largest generation in the United States in 2022, with an estimated population of 72.24 million.

US Pet Market: Restraints

High cost of food

The high cost of food can harm the US pet industry in a variety of ways. Rising food costs have a direct influence on customers’ discretionary expenditure, including money set aside for their pets. When pet owners are struggling financially owing to high human food prices, they may prioritize basic products above luxury pet food or other pet-related costs.

As a result, they may choose lower-cost pet food choices or cut back on overall pet care expenditures, causing demand for pet products and services to fall. Furthermore, rising food prices have an indirect impact on the pet industry by affecting pet ownership tendencies.

Individuals may postpone or rethink pet adoption or ownership owing to worries about the continuous cost of feeding and caring for a pet during times of economic instability.

As a result, the pet market may face a slowdown in growth or decreased consumer involvement as pet owners adapt their spending patterns to match rising food costs. While the US pet industry is generally robust, continuous rises in food prices might pose issues by influencing customer behaviour and purchase habits.

US Pet Market: Opportunities

Rise of telehealth

The emergence of telehealth in the United States has had a substantial influence on the pet industry by driving up demand for pet care goods and services. As telehealth services for pets become more widely available and accepted, pet owners are more inclined to seek expert advice and assistance remotely, increasing knowledge and participation in pet healthcare.

This trend has resulted in a spike in online pet pharmacies and e-commerce platforms that sell a variety of pet health items, medicines, and supplements. Furthermore, telemedicine consultations frequently encourage pet owners to prioritise preventative treatment, resulting in increased expenditure on pet wellness items like vitamins, supplements, and specialised meals.

Telehealth services are also convenient and accessible, allowing pet owners to treat health issues quickly and perhaps reduce the severity. As a result, the pet market is shifting towards more personalised and proactive approaches to pet healthcare, fuelling development and innovation in pet care goods and services designed to satisfy the changing demands of pet owners in the digital era.

US Pet Market: Segmentation Analysis

US Pet market is segmented by pet type, product type, sale channels and region.  Based on pet type, the market is classified into dog, cat, bird, and others. Dog dominated the market in 2023 with a market share of 45.2% and is expected to keep its dominance during the forecast period 2024-2033.

Dogs play an important part in propelling the US pet industry due to their widespread presence in homes and position as valued companions. Dogs, as the most popular pet option nationwide, have a variety of effects on consumer expenditure.

Owners put their dogs’ well-being first, resulting in a need for high-quality food, healthcare items, grooming services, and accessories.  Furthermore, the pet sector benefits from the varying demands of various dog breeds, which range from specialised meals and healthcare to custom accessories and training equipment.

Furthermore, rising knowledge of canine health and nutrition stimulates demand for premium and organic dog products, helping to expand the pet industry. As a result, the long-standing link between people and dogs continues to fuel innovation and expansion in the United States pet market, making it a profitable and dynamic sector.

Based on product type, the market is classified into food, medicine and others. Food dominated the market in 2023 with a market share of 52.8% and is expected to keep its dominance during the forecast period 2024-2033. The demand for pet food in the United States has a substantial impact on numerous areas of the economy.

Pet food sales account for a sizable component of the total pet market, with a wide selection of products catering to various pet species, nutritional requirements, and consumer preferences. By 2025, 6.6% of pet food will be sold online.

This is 0.6% higher than in 2023. Online pet food sales are predicted to increase by 2.6% in 2025. The growing humanization of pets has increased demand for premium and specialized pet diets, such as organic, grain-free, and natural alternatives.

This trend is driven by pet owners’ rising worries about their pets’ health and well-being, which mirrors changes in human food consumption. Furthermore, trends in pet ownership, demographic shifts, and lifestyle changes all contribute to the growth of the pet food business.

Manufacturers are always innovating to accommodate changing customer needs, releasing new formulas, flavours, and packaging options. The pet food industry’s expansion also promotes associated industries such as pet retail, distribution, and veterinary services, resulting in a vibrant ecosystem that generates economic activity across the United States.

Based on sales channels, the market is classified into a supermarket, hypermarkets, specialty stores and online retail stores. Specialty stores dominated the market in 2023 with a market share of 36.8% and are expected to keep their dominance during the forecast period 2024-2033.

Specialty stores drive the US pet industry by providing pet owners with a one-of-a-kind and personalised purchasing experience. These establishments specialise in pet-related products and services, offering a varied choice of high-quality things such as premium pet food, specialised grooming supplies, unusual toys, and accessories that may not be accessible in normal retail locations.

By catering exclusively to pet owners’ wants and preferences, specialised businesses promote a feeling of community and trust, resulting in high consumer loyalty. Furthermore, these establishments frequently employ skilled staff who can provide personalised advice and recommendations, therefore improving the whole shopping experience.

Furthermore, specialised retailers routinely sponsor events, workshops, and pet adoption campaigns to engage with their existing customers and attract new ones. Speciality shops continue to fuel development and innovation in the US pet industry by providing premium items, professional counsel, and cultivating a pet-centric community, influencing customer trends and preferences.

Report Scope

US Pet Market: Recent Developments

• In May 2022, Darling Ingredients Inc acquired Valley Proteins, a leading producer of animal-based fats and by-product meals, based in the United States. This strategic plan was aimed to enhance the company’s product portfolio and effectively meet expanding industry demand.

• In August 2021, Pure and Natural Pet, a United States-based pet care company, introduced new and improved products to its award-winning line of grooming and health essentials. This new product features a USDA-certified organic 2-in-1 fragrance-free hypoallergenic shampoo and conditioner that has no aroma or odor, making it an excellent choice for allergy-sensitive dogs and owners.

• In July 2021, Nestlé Purina PetCare Co. invested USD 182 million to enhance its pet care products manufacturing facility in King William County, Virginia, US.

List of the prominent players in the US Pet Market:

• Mars Petcare Inc.
• Nestlé Purina PetCare
• Blue Buffalo
• Hill’s Pet Nutrition
• M. Smucker Company
• Petco Health and Wellness Company Inc.
• PetSmart Inc.
• Central Garden & Pet Company
• Champion Petfoods
• Spectrum Brands Holdings Inc.
• Zoetis Inc.
• Colgate Pamolive
• Chewy Inc.
• Freshpet Inc.
• Pet Supplies Plus
• Pet Valu Inc.
• Petland Inc.
• Boehringer Ingelheim Animal Health USA Inc.
• WellPet LLC
• Nutro Company
• Others

These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The US Pet Market is segmented as follows:

By Pet Type

• Dog
• Cat
• Bird
• Others

By Product Type

• Food
• Medicine
• Others

By Sale Channel

• Supermarket
• Hypermarket
• Specialty Store
• Online Retail Stores