Pet Food Sales on the Rise
According to Packaged Facts’ report on Pet Food in the U.S., 15th Edition (July 2020) with a supplemental report on Pet Food Consumer Trends (June 2020), pet food sales is benefiting from the pandemic.
What’s more, it appears that supply/demand has been on the rise. No doubt, that is, in part, based on the number of pet adoptions and fosters as as the stay-at-home orders were beginning. Could another factor be that being home with pets, people are feeding them “generously?”
Concerns about threats to the pet food supply chain due to the pandemic have at least, so far, proven unfounded. Still, some pet parents have been stock-piling foods, even hoarding. And that may play a role in increasing purchases as well. The brick and mortar stores, by all accounts, are at least holding their own, which sadly is not the case for all retail sectors in America. In part, that is because of adjustments many stores have made to help consumers feel safe such as contactless pick-up. Of course, pick up is even easier online, where orders have increased significantly particularly through Chewy.com and Amazon.com, but others as well.
In the end, this is further proof that at least in America when bad things happen, we protect all our family members, including pets.
As 2019 pet food sales approached $29 billion, sales of dog and cat food are expected to reach nearly $38 billion by 2024, with e-commerce surging to become the most significant retail channel.
According to the reports, looking forward, cat food sales will actually leap over dog food sales numbers which currently lead.