Pet Stores in the U.S | USA pet market

The US pet market is segmented by pet type (dog, cat, bird, freshwater fish, and other animals), product type (food, over-the-counter supplies/drugs, and other product types ) and distribution channel (supermarket/hypermarket, specialty stores, online retail stores and other distribution channels).

USA pet market

The US pet market is expected to register a CAGR of 5.3% during the forecast period (2020-2025).

• The increase in the number of millennial pet owners and the change in the way pets are viewed are driving the growth of the market.
• Online retail channels represent the fastest growing segment for pet product sales in the region, owing to the convenience factor in purchasing pet products.
• Mars Inc., Nestlé SA (Purina), Colgate Pamolive (Hill's Pet Nutrition) and JM Smuker Big Heart are some of the major players operating in the market.

For the purposes of the report, animals, such as dogs, cats, fish and birds, that are groomed as pets are counted. The market is segmented on the basis of pet type and product type and their distribution across different channels. 

It also includes an overview of competitive intelligence, with a detailed analysis of consumer habits in the country.

In the United States, the number of pet owners has increased over the past two decades, which is largely due to the country's younger population. Three out of four millennials in the country now own a dog or cat.

 The popularity of pet ownership among the younger population is due to the delay in other important life decisions, such as marriage and having children. According to a study, 88% of millennials think raising a pet is a good way to prepare for parenthood. 

As a result, pets are considered full members of the family and owners are willing to spend on their pets. Millennials are increasingly choosing to spend on quality food for their pets. Besides food, expenses for other expenses, such as surgical visits to the vet, toilet aids, toys, and vitamins.

The number of pets and the money spent on them have been steadily increasing in recent years. The Covid-19 pandemic has further reinforced this trend. Does the new pet economy have something to offer?

Pets are good for your health and morale

The life before stopped with the arrival of the pandemic. Social upheavals multiplied: offices closed and parents had to homeschool. Many of us, stuck at home, have longed for a little companionship. Parents sought to occupy children who could no longer see their friends. And that's how pet adoptions have skyrocketed during the pandemic. For their part, those who already had a furry, feathered or scaly companion devoted more time to it. The pet economy has therefore flourished even though many countries have experienced one of the worst recessions in decades.

What has boosted this sector during the pandemic is quality food and e-commerce

The boom in the pet economy has benefited the American group Freshpet, which is surfing on the desire to adopt a healthier and more balanced diet. While this trend is primarily about the diet of humans, it also speaks to pet owners. Freshpet thus became one of the best performing small caps in the Russell 20001 index, jumping more than 90% over the year. Another group that has done well: the German Zooplus. The dynamism of online sales has resulted in a strong increase in turnover: Zooplus expects an increase of 16% to 19% year-on-year.

Credit: Mordorintelligence / allianzgi

Keywords: us pet food, pet industry usa, pet market in usa, pet market usa.