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DUBLIN, November 24, 2022 (GLOBE NEWSWIRE) — “U.S. Pet Market (Pet Food, Animal Products and Services, Pet Supplies): Insights and Forecasts on Potential Impact of COVID-19 (2022-2026)” report added of ResearchAndMarkets.com Recruitment.

The US pet market is expected to reach USD 135.2 billion in 2026, growing at a CAGR of 3.50% from 2022 to 2026. The market growth was driven by various factors such as rising millennial population, increasing adoption of e-commerce in pet care products, and increasing share of single-person households. Furthermore, the growth of the US pet market is expected to occur due to rapid adoption of veterinary telemedicine and innovation of new product categories. Shortage of pet food may hinder market growth.

The US Pet Market by Category can be split into: Animal Products and Services; Pet Supplies (Commodities/OTC Medications) and Other Services In 2021, the dominant share of the market was occupied by the pet food segment, followed by the veterinary products and services segment.

The US pet market can be segmented into the following categories by distribution channel: Online retailers, specialty stores, supermarkets/hypermarkets. In 2021, the market was dominated by the online retail segment. This was followed by the specialty store and supermarket/hypermarket segments.

Reporting scope

  • This report provides a comprehensive analysis of the US pet market given the potential impact of COVID-19.
  • Market dynamics such as growth drivers, market trends and challenges are analyzed in detail.
  • Company profiles of major companies (General Mills, The JM Smucker Company, Petco Health & Wellness Company, Spectrum Brands, Colgate Palmolive, Mars, Inc.) are also detailed.

Main target audience

  • Pet supplies and food manufacturers
  • Raw material provider
  • End users (companies/consumers)
  • investment bank
  • Government agencies and regulators

market dynamics

growth driver

  • Surge in Millennials
  • Increase in personal disposable income
  • Growing adoption of e-commerce in pet care products
  • Increase in single-person household ratio

Main trends and developments

  • Veterinary telemedicine adoption surges
  • Expanding Internet of Things (IoT) Incorporation into Pet Care
  • Innovation in new product categories
  • Increased inclusion of recipes containing grains and limited ingredients

Task

Main topics:

1. Market overview

2. Impact of COVID-19

3. Market analysis

4. Market dynamics

5. Company Profile

companies mentioned

  • Spectrum Brands (United Pet Group)
  • General Mills (Blue Buffalo)
  • colgate palmolive
  • Petco Health & Wellness Company
  • J.MSmucker Company
  • Mars Co., Ltd.

Learn more about this report here https://www.researchandmarkets.com/r/c6zzsb

        

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