ROCKVILLE, Md., Dec. 13, 2017 /PRNewswire/ -- Looking ahead to 2018 and beyond, the outlook for the pet food market remains promising. The market is benefitting from several key drivers, including the same Millennial- and ecommerce-related factors that are bolstering so many other segments of the U.S. retail economy. In the brand new report Pet Food in the U.S., 13th Edition, market research firm Packaged Facts estimates overall pet food sales increased almost 6% and topped $26 billion in 2017. The market is forecast to continue on a respectable growth trajectory annually through 2022.
Packaged Facts market estimate for the overall pet food market includes dog and cat food, but does not include non-dog/cat food, dog/cat treats and non-food pet supplies—including chews (natural, rawhide, nylon), and supplements.
"Much of the growth in the pet food market can be attributed to the rapid acceleration of online sales, particularly with behemoths Amazon.com and Chewy.com. Internet sales of pet products are outpacing and even stealing sales from other channels, notably pet super stores. Not to mention the emergence of Millennials as prominent pet market consumers," says David Sprinkle, research director for Packaged Facts. "But there are other, perhaps even at times under the radar, developments that are driving pet food growth."
Here are five other trends Packaged Facts expects will influence the U.S. pet food industry in 2018 and in the years beyond:
About the Report
Drawing on more than 20 years of experience in analyzing the pet food industry as well as Packaged Facts' broad cross-category expertise, Pet Food in the U.S., 13th Edition pinpoints strategic directions for current and prospective marketers, with a forward-looking focus on high-growth product segments and market drivers. Covering foods for dogs and cats, the report also provides a comprehensive market overview covering market size and projections, cross-market trends, market opportunities, recent mergers and acquisitions; channel trends, including e-commerce and home delivery; the Millennial impact; product trends; advertising and promotional initiatives; specialty diet products; and much more.
View additional information about Pet Food in the U.S., 13th Edition, including purchase options, the abstract, table of contents, and related reports at Packaged Facts' website: http://ift.tt/2iTmfZZ.
About Packaged Facts
Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, consumer packaged goods, and pet products and services. Packaged Facts also offers a full range of custom research services.
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SOURCE Packaged Facts
