NEWARK, Del., Aug. 22, 2023 (GLOBE NEWSWIRE) — The United States Pet Food Market is anticipated to grow from US$ 40,860.8 million in 2023 to US$ 60,234.0 million in 2033. Pet food sales in the United States are predicted to increase at a substantial rate CAGR of 4.0% by 2033. The demand for pet food…
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations. Pet ownership in the U.S. has jumped significantly over the past three decades. As of 2024, 66% of U.S. households (86.9 million homes) own a pet.[1] That’s up from 56% in 1988, pet ownership…
NEW YORK, Sept. 8, 2023 /PRNewswire/ — The fresh pet food market in US is expected to grow by USD 5.34 billion from 2022 to 2027, according to Technavio. In addition, 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…
Chewy has sold pet products online for 11 years, and now it sees pet health care as the future of the industry. The ecommerce pet company launched its pharmacy in 2018 and added a compounding pharmacy, which can mix custom medications needed for patients, in 2020. Chewy has since launched its “Connect with a Vet”…
Is dry pet food’s decades-long dominance on the wane? The popular, convenient product format is not going away anytime soon, but it’s taking on challenges, particularly wet pet food. In the US, dry pet food still enjoys a 60% market share, according to Packaged Facts’ latest report, “US Pet Market Update: Pet Food Focus, 2021.”…
It’s also a strategy to cope with a consumer who is simultaneously getting more frugal about the groceries they buy while eating out more than they were in the thick of the COVID pandemic. Salguero said that 2023 will be ButcherBox’s first year when revenues will shrink; the company laid off 15 employees last week….
The past year proved to be rough for the pet food business in Eastern Europe – the region with the strongest reliance on Russian fossil fuel, where the breakup of long-standing trade ties was the most painful. The crisis has not only impacted the production plans of pet food manufacturers but also altered consumer behavior…
China’s pet industry is booming. Long gone are the days when animals mainly served a practical function; today, they have become an integral part of the family – especially for younger people who are increasingly shunning traditional family structures. As demographic and cultural trends continue to shift, China’s pet market shows huge potential for growth,…
