US Pet Market Report 2022: Surging Adoption of Veterinary Telehealth to Change the Face of the Industry

DUBLIN, Dec. 6, 2022 /PRNewswire/ -- The "US Pet Market (Pet Food, Veterinary Products & Services and Pet Supplies): Insights & Forecast with Potential Impact of COVID-19 (2022-2026)" report has been added to ResearchAndMarkets.com's offering.

The US pet market is anticipated to reach US$135.2 billion in 2026, experiencing growth at a CAGR of 3.50% for the period spanning 2022-2026. 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 2021, 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 2021, 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 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

Market Dynamics

Growth Drivers

• Upsurge in Millennial Population
• Increasing Personal Disposable Income
• Increasing Adoption of E-commerce in Pet Care Products
• Rising Share of Single-Person Households

Key Trends & Developments

• Surging Adoption of Veterinary Telehealth
• Growing Inclusion of Internet of Things (IoT) in Pet Care
• Innovation of New Product Categories
• Rising Incorporation of Grain-Inclusive & Limited-Ingredient Recipes

Challenges

• Pet Food Shortage

Key Topics Covered:

1. Market Overview

2. Impact of COVID-19

3. Market Analysis

4. Market Dynamics

5. Company Profiles

Companies Mentioned

• Spectrum Brands (United Pet Group)
• General Mills (Blue Buffalo)
• Colgate Palmolive
• Petco Health & Wellness Company, Inc.
• The J.MSmucker Company
• Mars Inc.

For more information about this report visit https://www.researchandmarkets.com/r/t5ltbz

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SOURCE Research and Markets