North America Pet Food Market - Forecast(2021 - 2026)
Pet food is specially produced food from plants and animal extracts that provides essential nutrition to the pets. Rising pet owners preference to healthy and organic foods bundled with innovations in functionality are the key factors that have positively affected the pet foods industry. Customers’ interest in natural formulations has encouraged companies to further expand their product mix by launching products with natural ingredients. Brands with formulas free of artificial colors and flavors are positively perceived in the market. Customers increasingly consider their pets to be members of the family and are willing to pay for higher-priced pet food. Pet owners in North America give more importance to quality over quantity and price. Pet food sales in U.S. are estimated to grow at a CAGR of 8% during 2015-2020 owing to increasing adoption of pets. Furthermore, rising pet humanization and awareness on pet food with high nutritional benefits has affected the buying decisions of consu...