Demand for pet food in the United States surges, and the trillion-dollar market dividend remains unabated!

According to statistics from the American Pet Products Association , the pet food market has seen explosive growth in recent years . The number of U.S. households with pets is approximately 90.5 million , accounting for 70% , the highest level in history .

According to APPA data, spending on various pet products is also surging, growing to $103.6 billion in 2020 , a year-on-year increase of 6.5% . The highest-growing category is pet food and snacks, accounting for $42 billion of the total , a year-on-year increase of 9.7% . As more and more families in the United States adopt pets, the pet market is still bursting with huge dividends.

Judging from the sales of major e-commerce platforms, the top products in the pet market recently are mainly pet poop bags, pet educational toys, snacks, etc., while the sales and rankings of previously popular dog pads, supplements, pet vests, and harnesses have remained stable. On the basis of maintaining the stable sales of the original products, sellers of related products may try to develop and research some niche products. Who knows, a product with sudden creativity may become the next hot product.

However, sellers still need to remain vigilant, as some products now have infringement warnings, such as pet screens, cat blankets, bowls, etc., which have a higher risk of infringement.

According to foreign media reports, the rapid growth of online shopping and the increase in pet owners during the epidemic have greatly increased the profits of the pet market, especially the pet food sector. The profits of several pet companies in the United States can give us a clue.

According to the second quarter financial report of Chewy, an American pet products company , its revenue increased by 27% year-on-year to US$2.16 billion. It is reported that the company's net sales per active customer reached US$404, an increase of 13.5% over last year, and its number of active buyers reached 20.1 million, an increase of 21.1% over last year.

Petco, another private pet retailer in the United States , also saw significant growth in data. Revenue in the second quarter increased by 19% to $1.4 billion. The company also said that as pet owners spend more time and care for their pets, spending in this area has increased. The third-quarter financial reports of these two companies have not yet been released.

It is the peak season now, and competition in major markets is extremely fierce. Sellers should still focus on stability. It would be best if they could earn more after a year of peace and stability. This should be the wish of many sellers.

USA

Pet Products

100 billion