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

Premium pet food production is enjoying revenue growth driven by the quantity of pets, namely cats and dogs, in the United States, which boomed through the COVID-19 pandemic as consumers were shut in at home. Consumer preference has continued to move to premium pet food because of the growing availability of information on pet nutrition information and the humanization of pets, expanding demand. International trade boomed as large companies with globalized operations sought to most efficiently capture this growing demand, but smaller domestic producers were challenged by rising competition as import growth outpaced export growth. Revenue has been growing at a CAGR of 4.4% over the past five years and is expected to reach $2.8 billion in 2024 when sales will expand an estimated 1.1%.