The U.S. retail market for dog and cat food ended 2018 with sales of $27 billion, up more than 4% compared to 2017, according to market research firm Packaged Facts in the brand new report Pet Food in the U.S., 14th Edition.
Packaged Facts attributes much of the growth in the pet food market to the rapid acceleration of online sales, driven especially by behemoths Amazon.com and Chewy.com, whose rapid advances have been more than offsetting the resultant drag on brick-and-mortar sales.
"Although brick-and-mortar retailers have been losing sales to e-tailers, the Internet has been delivering incremental sales growth in the pet market overall," says David Sprinkle, research director for Packaged Facts. "E-commerce sales have, in fact, been so strong that they have been more than off-setting sluggish pet product sales in other channels. We at Packaged Facts estimate that 12 million households purchased pet products online in 2018, attracted by the competitive prices and the endless aisle appeal of Internet sellers, and this number will only increase in the coming years. For pet food marketers, an omnichannel approach is therefore a necessity in a business whose consumer base will increasingly be doing some or all of its pet food shopping online."
Because of this, in 2019 and beyond, Packaged Facts forecasts blockbuster online sales will play an important part in the market's future. Yet this isn't the only trend that will drive the market. Here are three other important market drivers Packaged Facts highlights in Pet Food in the U.S., 14th Edition:
Packaged Facts discusses these trends and more trends in Pet Food in the U.S., 14th Edition, now available for sale alongside the recently published companion report International Pet Market Perspectives: Trend and Opportunities in Pet Food.
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