Mobile Menu

Pet Food Production in the US - Market Research Report (2014-2029)

Christopher Lombardo Christopher Lombardo New York, United States Last Updated: November 2024 NAICS OD4347

Revenue

$26.8bn

2024

$26.8bn

Past 5-Year Growth

Profit

$X.Xbn

Employees

31,047

Businesses

1,054

Wages

$X.Xbn

Pet Food Production in the US industry analysis

Recent years have provided boons and challenges for pet food producers. The pandemic sparked a surge in pet ownership, particularly cats and dogs, prompting a short-lived revenue hike. However, as supply chain disruptions ensued and input costs soared, producers prioritized steadying profit over sales. Following the initial downturn in 2021, producers have boosted prices and passed costs along to consumers, generating steady profit gains at the detriment of overall revenue. Still, since 2019, sales have only been dropping at a CAGR of 0.8%. Recent dips in poultry prices, aided by eases in red meat and agricultural prices, provide producers with greater negotiating power. As a result, revenue will climb 1.8% in 2024, reaching $27.6 billion.
Pet parenthood has become more prevalent among consumers. As birth rates have decelerated and heightened inflationary pressures continue influencing consumers' purchasing power, pet ownership has served as an alternative to outright parenthood. Pet parents are typically more willing to splurge on organic and premium pet food products, which helped stimulate revenue growth. The trend has coincided with a boost in the industry's globalization, which has created unique opportunities and challenges. While exports have remained high, rising industry globalization has meant manufacturers grapple with growth in imported pet food.
Pet ownership rates will continue ballooning in the coming years as consumers find themselves with more disposable income and feel more confident in the financial responsibility of owning a pet. Despite unsteady growth during the previous period, new entrants will continue flooding the scene, intensifying competition and potentially diluting market share concentration. Manufacturers will focus on innovation, developing and marketing pet food formulas that offer advanced benefits, such as age-specific nutrition and sustainable, all-natural ingredients, to more effectively compete; however, imported pet food brands will mitigate growth. Revenue is forecast to climb at a modest CAGR of 0.7% over the next five years, reaching $28.6 billion in 2029.

Trends and Insights

  • The COVID-19 pandemic caused a surge in pet ownership. As Americans became more home-bound, millions adopted cats and dogs to cope with isolation.
  • Pet stores remain in favor among pet parents. Despite higher prices, pet stores stock a wide variety of foods and cater to clients that prefer individual assistance.
  • Access to existing production capacity drives locational choices. The Great Lakes is home to food processing facilities, many of which manufacture food for human consumption.
  • Innovation is at the heart of commercial success. Pet food production adapts to changing consumer preferences, introducing new varieties, healthier options and affordable prices that appeal to a wide variety of customers.

Access hundreds of analysis and data

  • Market estimates from 2014-2029
  • Critical performance data and rankings
  • Detailed analysis of competitive forces and the external environment
  • PDF report or online database with Word, Excel and PowerPoint export options
  • 100% money back guarantee

Industry Statistics and Trends

Market size and recent performance (2014-2029)

Industry revenue has declined at a CAGR of 1.3 % over the past five years, to reach an estimated $26.8bn in 2024.

Trends and Insights

Commodity price fluctuations reshape cost strategies

  • Severe weather and supply chain disruptions led to a surge in agricultural prices, with key inputs like corn, soybeans and oilseeds seeing double-digit price hikes in 2021 and 2022. These spikes significantly pressured pet food production costs.
  • Additional trends and insights available with purchase
Pet Food Production in the US
Revenue (2014-2029)
IBISWorld Logo Source: IBISWorld

Industry outlook (2024-2029)

Market size is projected to grow over the next five years.

Trends and Insights

Higher incomes set to fuel premium pet food growth

  • Demand for cats and dogs will likely climb as demographics shift with delayed marriages. As many seek companionship in pets, the growing number of adoptions will continue to drive demand for pet food, boosting overall growth.

Biggest companies in the Pet Food Production in the US

Company
Market Share (%)
2024
Revenue ($m)
2024
Profit ($m)
2024
Profit Margin (%)
2024
Mars Inc.
7,284.5
1,210.9
16.6
Nestle Sa
6,373.6
1,010.5
15.9
J.M. Smucker Co
2,914.2
508.0
17.4

To view the market share and analysis for all 5 top companies in this industry, view purchase options.

Products & Services Segmentation

Pet Food Production in the US
Products & Services
IBISWorld Logo Source: IBISWorld

Industry revenue is measured across several distinct product and services lines, including Dog food, Cat food and Other. Dog food is the largest segment of the Pet Food Production in the US.

Trends and Insights

Dog food is the industry's best friend

  • Kibbles, or dry dog food, play a crucial role due to their affordability and convenience. This segment's popularity is driven by its easy storage and mess-free attributes. It remains a core revenue source for the industry.
  • More insights available in the full report

Table of Contents

About this industry

Industry definition

This industry primarily manufactures dog and cat food. Common ingredients include grains, oilseed mill products and meat products. This industry concentrates on dry and semi-moist dog and cat foods in cans or packaged otherwise. Feed for farm livestock is not included.

What's included in this industry?

Producing dry dog foodProducing dry cat foodProducing natural and organic pet foodsProducing wet cat foodProducing dog treatsProducing wet dog foodProducing other dog and cat foodsProducing cat treats

Companies

Mars Inc.Nestle SaJ.M. Smucker Co

Purchase this report to view all 5 major companies in this industry.

Related Terms

PET PARENTSBIOFUELKIBBLE

Industry Code

NAICS 2017

NAICS 31111 - Pet Food Production in the US

Performance

Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.

Analyst insights

The COVID-19 pandemic caused a surge in pet ownership. As Americans became more home-bound, millions adopted cats and dogs to cope with isolation.

In this chapter (4)

  • Current Performance
  • Outlook
  • Volatility
  • Life Cycle

Key metrics

  • Annual Revenue, Recent Growth, Forecast, Revenue Volatility
  • Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
  • Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
  • Total Profit, Profit Margin, Profit per Business

Charts

  • Revenue, including historical (2014-2023) and forecast (2024-2029)
  • Employees, including historical (2014-2023) and forecast (2024-2029)
  • Businesses, including historical (2014-2023) and forecast (2024-2029)
  • Profit, including historical (2014-2024)
  • Industry Volatility vs. Revenue Growth
  • Industry Life Cycle

Detailed analysis

  • Trends in supply, demand and current events that are driving current industry performance
  • Expected trends, economic factors and ongoing events that drive the industry's outlook
  • Key success factors for businesses to overcome volatility
  • How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.

Products and Markets

Learn about an industry's products and services, markets and trends in international trade.

Analyst insight

Pet stores remain in favor among pet parents. Despite higher prices, pet stores stock a wide variety of foods and cater to clients that prefer individual assistance.

In this chapter

  • Products & Services
  • Major Markets
  • International Trade

Key metrics

  • Largest market segment and value in 2024
  • Product innovation level
  • Total imports, level and trend
  • Total exports, level and trend
  • Trade Balance

Charts

  • Products & services segmentation in 2024
  • Major market segmentation in 2024
  • International trade, including imports by country and exports by country

Detailed analysis

  • Trends impacting the recent performance of the industry's various segments
  • Innovations in the industry's product or service offering, specialization or delivery method
  • Key factors that successful businesses consider in their offerings
  • Buying segments and key trends influencing demand for industry products and services
  • Recent trends in import and export volumes, country of origin or destination, and expected future trends

Geographic Breakdown

Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.

Analyst insights

Access to existing production capacity drives locational choices. The Great Lakes is home to food processing facilities, many of which manufacture food for human consumption.

In this chapter (1)

  • Business Locations

Charts

  • Share of revenue, establishment, wages and employment in each state
  • Share of population compared to establishments in each region in 2024

Tables

  • Number and share of establishments in each state in 2024
  • Number and share of revenue each state accounts for in 2024
  • Number and share of wages each state accounts for in 2024
  • Number and share of employees in each state in 2024

Detailed analysis

  • Geographic spread of the industry across North America, and trends associated with changes in the business landscape
  • Key success factors for businesses to use location to their advantage

Competitive Forces

Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.

Analyst insights

Innovation is at the heart of commercial success. Pet food production adapts to changing consumer preferences, introducing new varieties, healthier options and affordable pri...

In this chapter (4)

  • Concentration
  • Barriers to Entry
  • Substitutes
  • Buyer & Supplier Analysis

Key metrics

  • Industry concentration level
  • Industry competition level and trend
  • Barriers to entry level and trend
  • Substitutes level and trend
  • Buyer power level and trend
  • Supplier power level and trend

Charts

  • Market share concentration among the top 4 suppliers from 2019-2024
  • Supply chain including upstream supplying industries and downstream buying industries, flow chart

Detailed analysis

  • Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
  • Key success factors for businesses to manage the competitive environment of the industry.
  • Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
  • Key success factors for potential entrants to overcome barriers to entry.
  • Competitive threats from potential substitutes for the industry’s own products and services.
  • Key success factors for how successful businesses can compete with substitutes.
  • Advantages that buyers have to keep favorable purchasing conditions.
  • Advantages that suppliers have to maintain favorable selling conditions.
  • Key success factors for how businesses can navigate buyer and supplier power.

Companies

Learn about the performance of the top companies in the industry.

Analyst insights

The industry has several small companies that compete among a growing consumer base. As more Americans treat pets as part of the family, opportunities to cater to niche marke...

In this chapter

  • Market Share Concentration
  • Companies
  • Company Spotlights

Charts

  • Industry market share by company in 2020 through 2024
  • Major companies in the industry, including market share, revenue, profit and profit margin in 2024
  • Overview of Mars Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
  • Overview of Nestle Sa's performance by revenue, market share and profit margin from 2018 through 2024
  • Overview of J.M. Smucker Co's performance by revenue, market share and profit margin from 2018 through 2024
  • Overview of revenue, market share and profit margin trend for 2 additional companies

Detailed analysis

  • Description and key data for Mars Inc., and factors influencing its performance in the industry
  • Description and key data for Nestle Sa, and factors influencing its performance in the industry
  • Description and key data for J.M. Smucker Co, and factors influencing its performance in the industry
  • Description, key data and performance trends for 2 additional companies

External Environment

Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.   

Analyst insights

The industry is heavily regulated, with the FDA closely monitoring product quality and marketing. The industry will face higher regulatory scrutiny as more environmentally-fr...

In this chapter

  • External Drivers
  • Regulation & Policy
  • Assistance

Key metrics

  • Regulation & policy level and trend
  • Assistance level and trend

Charts

  • Regulation & Policy historical data and forecast (2014-2029) 
  • Assistance historical data and forecast (2014-2029) 

Detailed analysis

  • Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
  • Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
  • Key governmental and non-governmental groups or policies that may provide some relief for industry operators.

Financial Benchmarks

View average costs for industry operators and compare financial data against an industry's financial benchmarks over time. 

Analyst insights

Premium product demand has raised wage costs. New entrants that seek to capitalize on revenue opportunities are typically more labor-intensive, since they require qualified s...

In this chapter

  • Cost Structure
  • Financial Ratios
  • Key Ratios

Key metrics

  • Profit margin, and how it compares to the sector-wide margin
  • Average wages, and how it compares to the sector-wide average wage
  • Largest cost component as a percentage of revenue
  • Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio

Charts

  • Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
  • Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
  • Investment vs. share of economy

Data tables

  • Industry Multiples (2017-2022)
  • Industry Tax Structure (2017-2022)
  • Income Statement (2017-2022)
  • Balance Sheet (2017-2022)
  • Liquidity Ratios (2017-2022)
  • Coverage Ratios (2017-2022)
  • Leverage Ratios  (2017-2022)
  • Operating Ratios (2017-2022)
  • Cash Flow & Debt Service Ratios (2014-2029)
  • Revenue per Employee (2014-2029)
  • Revenue per Enterprise (2014-2029)
  • Employees per Establishment (2014-2029)
  • Employees per Enterprise (2014-2029)
  • Average Wage (2014-2029)
  • Wages/Revenue (2014-2029)
  • Establishments per Enterprise (2014-2029)
  • IVA/Revenue (2014-2029)
  • Imports/Demand (2014-2029)
  • Exports/Revenue (2014-2029)

Detailed analysis

  • Trends in the cost component for industry operators and their impact on industry costs and profitability 

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2014-2029)
  • IVA (2014-2029)
  • Establishments (2014-2029)
  • Enterprises (2014-2029)
  • Employment (2014-2029)
  • Exports (2014-2029)
  • Imports (2014-2029)
  • Wages (2014-2029)

Top Questions Answered

Unlock comprehensive answers and precise data upon purchase. View purchase options.

What is the market size of the Pet Food Production in the US industry in United States in 2024?

The market size of the Pet Food Production in the US industry in United States is $26.8bn in 2024.

How many businesses are there in the Pet Food Production in the US industry in 2024?

There are 1,054 businesses in the Pet Food Production in the US industry in United States, which has grown at a CAGR of 8.0 % between 2019 and 2024.

Has the Pet Food Production in the US industry in United States grown or declined over the past 5 years?

The market size of the Pet Food Production in the US industry in United States has been declining at a CAGR of 1.3 % between 2019 and 2024.

What is the forecast growth of the Pet Food Production in the US industry in United States over the next 5 years?

Over the next five years, the Pet Food Production in the US industry in United States is expected to grow.

What are the biggest companies in the Pet Food Production in the US market in United States?

The biggest companies operating in the Pet Food Production market in United States are Mars Inc., Nestle Sa and J.M. Smucker Co

What does the Pet Food Production in the US in United States include?

Producing dry dog food and Producing dry cat food are part of the Pet Food Production in the US industry.

Which companies have the highest market share in the Pet Food Production in the US in United States?

The company holding the most market share in United States is Mars Inc..

How competitive is the Pet Food Production in the US industry in United States?

The level of competition is high and increasing in the Pet Food Production in the US industry in United States.

Related Industries

Widen your competitive advantage with related industries

Competitors

  • There are no industries to display.

Complementors

  • Animal Food Production in the US
  • Canned Fruit & Vegetable Processing in the US
  • Meat, Beef & Poultry Processing in the US
  • Snack Food Production in the US

International industries

  • Animal Feed Production in Canada
  • Prepared Animal and Bird Feed Manufacturing in Australia
  • Animal Feed Production in the UK
  • Animal Food Manufacturing in China

View all industries in United States

Methodology

How are IBISWorld reports created?

IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.

Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.

IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.

What data sources do IBISWorld analysts use?

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.

Key data sources in the US include: 

  • US Census Bureau
  • US Bureau of Labor Statistics
  • US International Trade Commission

Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.

These sources include:

  • Industry and trade associations
  • Industry federations or regulators
  • Major industry players annual or quarterly filings

Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.

How does IBISWorld forecast its data?

IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.

Learn more about our methodology and data sourcing on the Help Center.