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Pet food

Animal feed for pets

  • 11 min read
  • 10 chapters

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Through Animal feed, Land use and Mars Inc.

In 2019, the world pet food market was valued at US$87.09 billion and is projected to grow to US$113.2 billion by the year 2024. The pet food market is dominated by five major companies, as of 2020: Mars, Inc., Nestle Purina Petcare, J. M. Smucker, Hill's Pet Nutrition, Inc. (owned by Colgate-Palmolive), and Blue Buffalo Co. Ltd (owned by General Mills).

Industry

In the United States, pet-food sales in 2016 reached an all-time high of $28.23 billion. Mars is the leading company in the pet food industry, making about $17 billion annually in pet-care products. Online sales of pet food are increasing and contributing to this growth. Online sales in the US increased 15 percent in 2015. Worldwide, the compound annual growth rate of pet food purchased online was more than 25% between 2013 and 2018. As of 2015, the U.S. leads the world in pet-food spending.

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