Blog Details

Rising Adoption of Veterinary Telehealth likely to drive the US Pet Market

Date: 13th May 2021 | Category: Food & Beverage

The US pet market is anticipated to reach US$127.87 billion in 2025, experiencing growth at a CAGR of 3.50% during the period spanning from 2021 to 2025. The market growth was driven by various factors such as rise in millennial population, growing adoption of e-commerce in pet care products and increasing share of single-person households. Furthermore, growth in the US pet market is expected to happen due to the surging adoption of veterinary telehealth and innovation of newer product categories. The market growth is likely to get disrupted due to pet food shortage. 

The US pet market by category can be segmented as follows: pet food; veterinary products & services; pet supplies (products & OTC medicine) and other services. In 2020, the dominant share of market was held by pet food segment, followed by veterinary products & services segment. 

The US pet market by distribution channel can be segmented into the following categories: online retail stores, specialty stores and supermarkets/hypermarkets. In 2020, the market was dominated by online retail stores segment. This was followed by specialty stores and supermarkets/hypermarkets segment. 

Scope of the report:

• The report provides a comprehensive analysis of the US pet market with potential impact of COVID-19. 

• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

• The competitive landscape of the market, along with the company profiles of leading players (General Mills, The J.M. Smucker Company, Petco Health & Wellness Company, Spectrum Brands, Colgate Palmolive and Mars, Inc.) are also presented in detail.

Key Target Audience:

• Pet Products/Food Manufacturers

• Raw Material Providers

• End Users (Businesses/Consumers)

• Investment Banks

• Government Bodies & Regulating Authorities