Corporate Profiles - 2024 - 48

GRAIN-BASED FOODS
Pet food
P
Pet food processors remain optimistic
et food and treat sales remain on the upswing. While some of
the growth may be attributed to price increases of pet food
and treats per unit, the ongoing rise in pet ownership and
devotion to four-legged family members is evidence that the growth
of the industry will continue.
Market research provider Euromonitor International predicts
global pet food sales will reach $151.8 billion in 2024, a 7.6%
increase from 2023. The United States is set to achieve $61.9 billion
in pet food sales, an increase of 5.1% over the year prior. In 2024,
dog food sales in the United States rose 8.4% to $42.1 billion and
cat food sales increased 10.1% to $18.5 billion.
US dog and cat food exports reached $2.41 billion in 2023, according
to the Foreign Agricultural Service of the US Department of
Agriculture, with the top five export markets being Canada ($1.2
billion), China ($257 million), Mexico ($206 million), Japan ($122
million) and Australia ($89 million).
" The data has shown that the pet industry has remained incredibly
strong since 2009 despite wide-scale economic challenges, " said
Peter Scott, president and chief executive officer of the American
Pet Products Association (APPA), following the release of its State of
the Industry data. " While there are signs of slowing, the industry is
resilient, especially compared to other industries. In fact, we forecast
the industry's expenditures to top $250 billion by 2030. "
Most pet food formats saw sales growth between July 2023 and
July 2024, according to the Chicago-based market research firm
Circana. Some formats, namely semi-moist cat food and refrigerated/frozen
dog food, saw significant growth from the year prior.
In the 52 weeks ended July 14, 2024, Circana reported dry dog food
sales increased 5.6%, following
a substantial 20% increase
between 2022 and 2023. Dry
cat food sales increased 9.5%,
which
PRICE-PER-UNIT
SALES
% change
from
Product category
Dry dog food
Dry cat food
year ago
+4.7%
+5.6%
Semi-moist dog food +19%
Semi-moist cat food
+20%
was
considerably
less
than the increase of 22% between
2022 and 2023. Nestle
Purina, with sales of $3.04
billion, up 7%, and Mars Petcare,
with sales of $2.03 billion,
down 1.8%, continue to be the
two companies leading the dry dog food category. Nestle Purina, with
sales of $1.92 billion, up 4.9%, and Big Heart Pet Brands, with sales
of $690 million, up 15%, maintain their top positions in the dry cat
food category.
Price-per-unit sales from July 2023 to July 2024 increased across
48 \ October 2024
all categories with the highest growth occurring in the semi-moist
dog food category (up 19%) and semi-moist cat food category (up
20%). Price-per-unit sales were up 5.6% for dry cat food and 4.7%
for dry dog food.
Pet food processors, suppliers and retailers continue to invest in
facility expansions and new plant construction in an effort to manage
consumer demand. Notable facility expansions on the processor
side over the past year included Nestle Purina PetCare, Petsource by
Scoular, Blue Buffalo, Muenster Milling, Mars, Instinct Pet Food and
Hill's Pet Nutrition. On the supplier side, Parker Freeze Dry, GEA,
Kemin Industries, Innovafeed, Scoular and Bühler all invested in operations
to support the pet food and treat industry. CP
LEADING
dry dog food vendors
1 Nestle Purina Petcare Co.
2 Mars Petcare
3 Post Consumer Brands LLC
4 The Blue Buffalo Co.
5 Hill's Pet Nutrition Inc.
6 Royal Canin USA
7 Diamond Pet Foods
8 Jinx Inc.
9 Wellness Pet Co.
Private label
Total
LEADING
dry cat food vendors
1 Nestle Purina Petcare Co.
2 Big Heart Pet Brands
3 Mars Petcare
4 Post Consumer Brands LLC
5 The Blue Buffalo Co.
6 Hill's Pet Nutrition Inc.
7 Royal Canin USA
8 Nature's Variety
9 Champion Petfoods
Private label
Total
% change
from
Dollar sales
$1,918,856,009
$690,196,254
$454,986,243
$305,268,211
$238,702,583
$89,266,368
$20,416,744
$11,667,234
$11,403,847
$379,588,446
$4,197,209,080
year ago
4.9%
15.0%
17.3%
8.7%
5.7%
47.9%
54.3%
15.7%
36.1%
9.0%
9.5%
Data for 52 weeks ended July 14, 2024
Total US - Multi-outlet with C-Store (Supermarkets, Drugstores and Mass Market Retailers,
Gas/C-Stores, Military Commissaries and Select Club & Dollar Retail Chains)
Source: Circana OmniMarket Integrated Fresh
% change
from
Dollar sales
$3,041,370,613
$2,026,002,282
$1,017,817,618
$843,685,359
$221,279,557
$89,923,700
$59,495,149
$45,888,856
$43,109,746
$1,624,866,321
$9,406,893,573
year ago
7.0%
-1.8%
2.0%
8.6%
42.9%
22.5%
33.0%
165.7%
2.2%
7.0%
5.6%
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Corporate Profiles
INDUSTRY REVIEW: pet food
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Corporate Profiles - 2024

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