The forecast for dog and cat food sales in the US shows a steady growth trajectory from 2024 to 2028, with sales expected to rise from $27.813 billion in 2024 to $29.986 billion in 2028. This represents an approximately consistent year-on-year increase of around 2%, reflecting positive trends in the market. As of 2023, the market value stood slightly below 27.813 billion, confirming a stable upward trend over the forecast period. The last five-year compound annual growth rate (CAGR) indicates modest, yet reliable market expansion, driven by increased pet ownership and premiumization in pet food products.
Future trends to watch for:
- Emerging demand for organic and natural pet food products.
- Technological innovation in pet food manufacturing and distribution.
- Potential impacts of economic changes on consumer spending patterns.
- Environmental and sustainability considerations influencing product choices.
