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Nov 06, 2024

Report: E-Commerce pet food sales projected to surpass US$21 billion in 2024 | PetfoodIndustry

E-commerce continues to dominate the U.S. pet food market due to ongoing shifts in consumer buying habits and strong competition from platforms like Amazon. The U.S. pet food market is projected to

E-commerce continues to dominate the U.S. pet food market due to ongoing shifts in consumer buying habits and strong competition from platforms like Amazon.

The U.S. pet food market is projected to reach $54 billion in 2024, marking a 4.5% increase from 2023, according to the most recent Packaged Facts Pet Food in the US report. This growth, though slower than the double-digit surges of recent years, underscores the continuing expansion of e-commerce within the sector.

E-commerce is anticipated to account for 40% of the total pet food sales, exceeding $21 billion. The report noted the pandemic significantly boosted online sales due to its convenience and contactless nature, and this trend persists. Amazon’s aggressive market strategies have also been pivotal in shifting consumer preferences from traditional brick-and-mortar stores to online platforms.

Brick-and-mortar mass merchandisers and supercenters follow as the second-largest sales channel, with specialty pet stores and grocery outlets trailing behind. The shift toward online purchasing is expected to continue, albeit at a slower pace, as economic pressures impact overall consumer spending. Despite these challenges, e-commerce remains a key driver of growth in the pet food industry.

According to the report, pre-pandemic pet food market growth stemmed from premiumization and higher-income household pet ownership. Recent gains, however, are driven largely by price inflation in 2022 and early 2023, which occurred despite a decline in the dog population. Growth in 2024 is expected to slow due to ongoing challenges with dog ownership and economic pressures on pet owners.

For more information or to obtain the report, click here.