Pet Food Market Booms to $51.7B, Driven by Premium Ingredients and Sustainability
The pet food industry has witnessed significant shifts in recent years, with a surge in demand for premium ingredients and a notable decline in water usage. The latest report, to be presented by Lara Moody of IFEEDER at the our website Forum in Kansas City, offers insights into the booming market and its impact on the economy.
The market size for dog and cat food in the USA is projected to reach $51.7 billion by 2024, according to an updated study by Fortune Business Insights. This growth is partly driven by the increasing demand for high-quality ingredients. Marine ingredients, in particular, have seen a 95% increase since 2019, with salmon and cod being the most valuable.
Manufacturers used over 9.8 million tons of ingredients in 2024, including 3 million tons of upcycled ingredients in dog food and 1 million tons in cat food. Chicken and chicken-based ingredients remained the most commonly used by weight. Missouri led the states in farm purchases for pet food ingredients, totaling $1.05 billion in 2024, which contributed to the $13.2 billion spent industry-wide.
In response to sustainability concerns, water usage in pet food formulas has decreased by 22% since the last report. This update comes after the Institute for Feed Education and Research (IFEEDER) collaborated with other associations to revise the 2019 report on dog and cat food ingredients and sales.
The pet food industry continues to grow and evolve, with a focus on premium ingredients and sustainability. As the market reaches $51.7 billion, it also stimulates economic activity throughout the supply chain, with Missouri being a significant contributor. The upcoming presentation by Lara Moody at the our website Forum will provide further insights into this dynamic market.
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