Market Trends of north america pet treats Industry
Increased adoption of cats by younger adults and millennials in the region is driving the growth
- Cats have been adopted as pets in North America due to the high demand for companionship and less expenditure on pet food for cats compared to other pets. Moreover, in the region, cats as pets increased by 13.6% between 2017 and 2022 due to a rise in pet humanization, and cats require less area to live. For instance, in the United States, in 2020, 26% of households owned a cat as a pet, whereas, in Canada, it was 29.3%.
- The United States, Canada, and Mexico have witnessed higher adoption of cats as pets after the pandemic because there is an increase in pet ownership stimulated by remote work, and more pet owners belong to the millennial generation. For instance, in 2022, millennials accounted for 33% of pet parents in the United States, and in 2020, 40% of the cat pet population was adopted from animal shelters in the United States. Additionally, pet parents purchased cats from pet stores due to high income, and in 2020, 43% of cat parents in the United States purchased cats from pet stores. Therefore, cats as pets in North America increased by 5.34% between 2020 and 2022.
- There is a higher adoption of young cats in the United States as compared to adult cats by pet parents. For instance, in 2021, the adopted cat population in the United States was about 684,144, and young cats accounted for 53.5% of the cats adopted in the country. The higher population of young cats and millennials being pet parents is expected to help in the growth of pet treats during the forecast period.
- Factors such as an increase in the adoption and purchase of cats and an increase in pet humanization are expected to help the growth of the pet population, and the rise of the pet population will help in the growth of the pet food market in the region.
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Demand for natural and organic treats is increasing the pet expenditure in the region
- A trend of increase in pet expenditure is witnessed in North America. The rise in pet expenditure is due to the availability of different types of pet food and the growing premiumization of pet food products in the United States and Canada. Moreover, pet parents are spending on premium segments, such as customized pet food and natural and organic pet food, in the region.
- Pet parents' highest expenses are on pet food, which is estimated to increase during the forecast period. For instance, pet food accounted for 42.4% of pet expenses in the United States (USD 136.8 million) in 2022. They have the highest share and are projected to increase due to pet parents treating their pets as family members and increased awareness about specialized pet food. The dog's food expenditure share is higher than that of cats because the dog population is higher, and they consume a larger quantity of food than cats. Pet Parents provide premium pet food to their pets and use services, such as pet grooming and pet daycare, in the region as they consider them as family members. In the United States, about 40% of pet parents purchased premium pet food, and USD 11.4 billion was spent on services, such as pet grooming and pet walking, in 2022.
- Pet parents purchase pet food through online retailers, supermarkets, and pet stores. Higher Pet food sales are through online retailers as pet parents have a vast number of pet food products available on e-commerce sites, and the pandemic increased online orders. For instance, in the United States, online sales of pet care products, including food, increased from 32% in 2020 to 40% in 2022.
- Premiumization and rising awareness about the benefits of quality food are factors anticipated to have helped in increasing pet expenditure in the region.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Increasing adoption of dogs from animal rescue shelters and evolving pet ecosystems are enhancing the market growth
- Low maintenance and comfort are driving the adoption of other pets
