NEW YORK, May 27, 2015 /PRNewswire/ -- This BCC Research report provides a comprehensive analysis of all segments of the pet industry in the U.S. and forecasts future trends through 2020.
Use this report to:
- Receive information about the market for pet food, pet services, and pet supplies in the United States.
- Analyze developments in all animal segments, including dog, cat, bird, fish, small mammal, and reptile products.
- Learn about the major trade and professional organizations that are concerned with the pet care industry in the U.S and selected foreign markets.
- Analyze global market trends for the U.S. pet industry
- The U.S. market for pet care products and services totaled nearly $56.4 billion in 2014. This market is projected to approach $61.4 billion in 2015 and $69.4 billion by 2020, registering a compound annual growth rate (CAGR) of 2.5% through 2020.
- Pet food, the largest segment of the market, should total $23.7 billion in 2015 and $27.0 billion by 2020, with a CAGR of 2.7% for the period 2015-2020.
- Pet supplies as a segment should reach nearly $14.8 billion in 2015 and nearly $17.4 billion by 2020, with a CAGR of 3.3% between 2015 and 2020.
Introduction & Scope
REASONS FOR THIS STUDY AND ITS IMPORTANCE
The pet industry is a major segment of the U.S. economy. In 2014, American pet owners spent more than $56 billion on their small companions, a figure that is
expected to approach $70 billion by 2020. Since BCC Research published its last report on the pet industry in 2010, continued growth in all segments has provided an
opportunity for both existing players and new entrants. A growing number of players, as well as consolidation among manufacturers, retailers, and service providers, and
globalization of the American economy have transformed the maturing pet industry into a dynamic, highly competitive environment. This BCC Research report analyzes
these new developments and their potential impact on the future of the pet industry.
OBJECTIVES OF THIS STUDY AND ITS CONTRIBUTION
The objective of this research is to provide a comprehensive analysis of all segments of the pet industry in the U.S. and to forecast future trends. The study analyzes
developments in all animal segments, including dog, cat, bird, fish, small mammal, and reptile products. Due to the increasing importance of international markets for U.S.
manufacturers and retailers, the report includes an analysis of global trends, with an overview of key export markets for U.S. pet products.
THE AUDIENCE FOR THIS REPORT
The report is intended for executives and consultants in the pet food, pet supplies, veterinary, and other pet service segments. It will also be of interest to financial
analysts, venture capitalists, and investors.
SCOPE AND CONTENT OF THE REPORT
This report covers the market for pet food, pet services, and pet supplies in the U.S. and analyzes major foreign markets for U.S. pet products. The report is divided into the
following eight sections:
- Pets and Their Owners
- Pet Industry Overview
- Pet Food Segment
- Pet Services Segment
- Pet Supplies Segment
- International Aspects
In addition, the report contains an appendix listing the major trade and professional organizations that are concerned with the pet care industry in the United States and
selected foreign markets.
METHODOLOGY AND INFORMATION SOURCES
BCC Research analyzed historical growth trends in the U.S. pet population and developed a simple pet demographic model to project future population trends. BCC
Research also analyzed historical trends in the market for pet care products and services in the context of pet population trends and other variables, such as economics,
consumer trends, competition, and price pressures. Based on its analysis, BCC Research projected the future market for each major segment and subsegment of the
U.S. pet care industry through 2020.
The data on which these projections are based are, in some cases, open to different interpretations. Therefore, BCC Research has made a point of documenting its
analytical assumptions and methodologies as explicitly as possible in order to enable readers to evaluate them and test the impact of substituting alternative assumptions.
In preparing this report, BCC Research obtained and analyzed information from trade and mainstream publications, industry and pet ownership surveys, company directories
and databases, annual reports, and government sources. The U.S. Government Census, Consumer Expenditure Surveys from Bureau of Labor Statistics, and U.S. Department
of Commerce provided demographic, consumer expenditure trends, and foreign trade data. Personal interviews were conducted with representatives from major companies,
U.S. trade associations and publications, industry experts, and government officials.
Foreign government offices, trade associations, and trade publications were contacted for information on international markets.
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