Pet Food Processing - May 2024 - 82

SIT, STAY, READ
PET INDUSTRY PREDICTIONS
At Global Pet Expo 2024 in March, the American Pet Products
Association (APPA) unveiled its latest pet industry data, including
category sales figures for 2023, predictions for 2024, and pet
ownership trends expected to impact the industry now and in the future.
Nutrition remains king
As in years past, pet food and treats accounted for most pet industry revenue in 2023.
Category
Actual sales 2023
Pet food & treats
Supplies, live animals & OTC medicine
Vet care and products
Other services
Industry total
LONG-TERM
FORECAST
APPA is projecting slow but steady growth
for the pet industry through 2030. Pet food
and treats are expected to account for
$112 billion, or 44.6%, of the industry's
total estimated $251 billion sales in 2030.
2030
2029
2028
2027
2026
2025
Generational
pet ownership
A shifting population of American pet parents
will mean shifting sentiments around pet care
products and services. The preferences of
younger pet owners, including Millennials and
Gen Zers, will be ones to keep tabs on.
In-store or online?
Speaking of generational shifts, the way younger pet owners prefer to purchase
pet products is different than the preferences of older pet owners.
In-store Online
46%
44%
51%
Gen Z
Millennials
Gen X
Baby Boomers 55%
50%
52%
46%
42%
d
16
24
33
25
100
150
200
$64.4B
$32B
$38.3B
$12.3B
$147B
Projected sales 2024
$66.9B
$32B
$39.1B
$12.6B
$150.6B
16.3%
8.5%
7.9%
7.3%
6.8%
6.4%
250
300
82 PET FOOD PROCESSING | May 2024 | www.petfoodprocessing.net
a
B
Source: American Pet Products Association (APPA). " APPA's State of the Industry 2024: Strategic Insights from the National Pet Owner Survey. " Presented at
Global Pet Expo on March 21, 2024. Photos: ©Davizro Photography, Oleksandr Moroz, VectorMine
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Pet Food Processing - May 2024

Table of Contents for the Digital Edition of Pet Food Processing - May 2024

Pet Food Processing - May 2024 - Intro
Pet Food Processing - May 2024 - 1
Pet Food Processing - May 2024 - 2
Pet Food Processing - May 2024 - 3
Pet Food Processing - May 2024 - 4
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https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-may-2024
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-march-2024
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-january-2024
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-november-2023
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-september-2023
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-july-2023
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-may-2023
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-march-2023
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-december-2022
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-october-2022
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-september-2022
https://digital.petfoodprocessing.net/sosland/pfp/-pet-food-processing-june-2022
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-march-2022
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-december-2021
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-october-2021
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-september-2021
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-june-2021
https://digital.petfoodprocessing.net/sosland/pfp/pet-food-processing-march-2021
https://digital.petfoodprocessing.net/sosland/pfp/2020_12_01
https://digital.petfoodprocessing.net/sosland/pfp/2020_10_01
https://digital.petfoodprocessing.net/sosland/pfp/2020_09_01
https://digital.petfoodprocessing.net/sosland/pfp/2020_06_01
https://digital.petfoodprocessing.net/sosland/pfp/2020_03_01
https://digital.petfoodprocessing.net/sosland/pfp/2019_12_01
https://digital.petfoodprocessing.net/sosland/pfp/2019_10_01
https://digital.petfoodprocessing.net/sosland/pfp/2019_09_01
https://digital.petfoodprocessing.net/sosland/pfp/2019_06_01
https://digital.petfoodprocessing.net/sosland/pfp/2019_03_01
https://digital.petfoodprocessing.net/sosland/pfp/2018_12_01
https://digital.petfoodprocessing.net/sosland/pfp/2018_09_01
https://digital.petfoodprocessing.net/sosland/pfp/2018_06_01
https://digital.petfoodprocessing.net/sosland/pfp/2018_03_01
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