Market Trends of us pet nutraceuticals Industry
The growing pet humanization and increased demand for companionship are driving the cat population in the United States
- The cat population in the United States has been growing. Cats as pets are being adopted in the country due to the high demand for companionship and less expenditure on pet food for cats than other pets. Cats as pets in the country grew by 10.8% between 2017 and 2022 due to the rising pet humanization. Cats are also suitable for smaller apartments as they require less area to live in than dogs. In the United States, households owning a cat as a pet grew by 26% in 2020 and 53.5% in 2022.
- During the pandemic, the United States witnessed higher adoption of cats as pets due to the work-from-home culture, leading to the demand for companionship. A higher number of pet owners are also millennials. In 2022, 33% of millennials in the United States were pet parents, and in 2020, 40% of the cat pet population was adopted from animal shelters in the United States. Pet parents purchased cats from pet stores due to high income. In 2020, 43% of cat parents in the United States purchased cats from pet stores. Therefore, the country's adoption rate of cats as pets grew by 4.5% between 2020 and 2022.
- About 76% of cat parents treated their cats as a part of their family between 2017 and 2018. Pet humanization is expected to boost the growth of pet products, including pet food such as nutritious specialized pet food. People are also gifting cats to their loved ones, which accounted for 3% of cat owners in the United States in 2021.
- An increase in the adoption and purchase of cats and rising pet humanization are expected to boost the pet population in the country. This rising pet population may further boost the growth of the US pet nutraceuticals market in the country.
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Increasing pet owners focusing on their pet health and the growing availability of pet supplements through various distribution channels are driving the pet expenditure on pet nutraceuticals in the United States
- Pet expenditure in the United States has steadily increased over the years. The overall pet expenditure in the country increased from USD 123.6 billion in 2021 to USD 136.8 billion in 2022, representing a 10.7% increase, mainly due to the growing pet humanization, increased pet owners' focus on their pet health and well-being, and the increasing availability of pet supplements through various distribution channels.
- Expenditure on pet nutraceuticals accounted for 16.5% of the average pet food expenditure per pet in 2022. The nutraceutical expenditure per pet in the country increased from USD 231.3 in 2017 to USD 324.1 in 2022, mainly due to the growing pet humanization, the increased spending on preventive care, and the various health benefits associated with pet nutraceuticals. Among pet animals, pet nutraceutical expenditure on dogs is the highest (USD 137.3 per dog in 2022), followed by cats (USD 115.6 in the same year).
- Pet parents purchase pet nutraceuticals through online retailers, supermarkets, and pet stores. The sales of pet nutraceuticals through specialty stores and online retailers are high as pet parents purchase many pet supplements through e-commerce. The pandemic also increased the demand for online orders. The share of pet supplement sales through online channels in the country increased from 18.1% in 2017 to 24.8% in 2022. The growing awareness of the benefits of quality food and the premiumization of pet food products are anticipated to continue driving pet expenditure in the country.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The growing pet humanization and increased demand for companionship are driving the cat population in the United States
- The exotic and unique features of other pet animals appealing to pet owners are driving their population in the United States
- The increasing adoptions of dogs from animal shelters and the evolving pet ecosystem in the United States are driving the dog population
