Fresh pet food market in U.S. to grow by $5.3B from 2022 to 2027: Technavio
The fresh pet food market in the U.S. is expected to grow by $5.3 billion from 2022 to 2027, according to Technavio.
The growth momentum of the market will progress at a CAGR of 29.34% during the forecast period. New product launches are notably driving the fresh pet food market in the U.S. But factors such as lower shelf life compared with processed pet foods may impede market growth.
The market is segmented by product, distribution channel and type of food, including fish, meat, vegetables and other ingredients.
Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology.
Key segment analysis
The offline segment will account for a significant share of market growth during the forecast period.
This segment mainly consists of supermarkets and hypermarkets, specialized pet stores, pet clubs, veterinary clinics and convenience stores.
Supermarkets and hypermarkets are the main distribution channels in the offline segment, with the highest sales of pet food products.
Some well-known companies covered in the report include Target, Walmart, Meijer, Whole Foods Market and The Kroger Co.
This market segment has faced its share of recalls.
In July 2022, according to the U.S. Food and Drug Administration, Stormberg Foods recalled multiple sizes and batches of Beg and Barker Chicken Breasts, Billo's Best Friend Chicken Breast Strips and Billo's Food for Dogs.
The availability of a wide range of fresh animal food in different brands by supermarkets and hypermarkets, which provides pet owners with the possibility to feed their animals easily, is one of the major reasons why these markets have high market shares.
In May 2022, Freshpet Inc. announced an expansion of operations in the Lehigh Valley. The company planned to build a 99,000-square-foot creative kitchen less than a mile from its site in Hanover Township, Northampton County. Hence, these factors are expected to drive segment growth during the forecast period.
To learn additional highlights and key points on these market segments and the impact in coming years, view the sample report.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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