LONDON--(BUSINESS WIRE)--The fresh pet food market in US is expected to post a CAGR of over 24% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the rising adoption of customized fresh pet foods. Pet owners always prefer pet foods that provide maximum benefits. Therefore, there is a growing market for personalized food products for pets. The intake of personalized fresh pet foods offers many benefits for the pet such as healthy skin and coat, ideal body conditions, joint health and mobility, brain development, and an active lifestyle. Vendors operating in the market are focusing on delivering customized fresh pet foods to cater to the requirements of the consumer. Therefore, the rising adoption of customized fresh pet foods is expected to drive market growth during the forecast period.
As per Technavio, the rising demand for human-grade fresh pet foods will have a positive impact on the market and contribute to its growth significantly over the forecast period. This fresh pet food market in US 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Fresh Pet Food Market in US: Rising Demand for Human-Grade Fresh Pet Foods
Currently, pet owners prefer pet foods that comprise high-quality ingredients owing to their health benefits. Human-grade pet foods include high-quality ingredients, which are mostly considered fresh. Human-grade pet foods enable better digestion, as they do not contain additives and help to build a strong immunity in pets. The increasing level of humanization of pets may also fuel the adoption of human-grade pet foods among pet owners. Furthermore, many vendors in the market are focusing on offering human-grade fresh pet foods. For instance, JustFoodForDogs offers fresh, human-grade pet foods. The fresh pet foods offered by the company comprise USDA-certified (for human consumption) ingredients. Thus, the increasing adoption of human-grade pet foods is expected to propel the growth of the market during the forecast period.
“Pet food products with fresh ingredients and a limited amount of processing are gaining popularity among pet owners in the US. Fresh pet food retailers and fresh pet food vendors are trying to develop new strategies to further increase sales by providing added benefits to customers through cost-saving options. Such discounts that will allow customers to get fresh pet food at reduced costs, are expected to fuel the sales of fresh pet foods in the US,” says a senior analyst at Technavio.
Fresh Pet Food Market in US: Segmentation analysis
This market research report segments the fresh pet food market in US by product (dog food, cat food and others), and by distribution channel (supermarkets and hypermarkets; pet specialty stores and vet clinics; convenience stores; and others).
The dog food segment led the market in 2018, followed by the cat food and others segment respectively. During the forecast period, the dog food segment is expected to maintain its dominance over the global market and register the highest incremental growth due to the higher prevalence of dogs kept as pets.
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Market Landscape
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Market Sizing
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Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
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