U.S. pet treat market to reach $6.7 billion
Traditional sellers are benefiting in a sales arena highlighted by growing interest in CBD and American-made products.
U.S. pet owners prefer to buy treats for their dogs and cats from brick-and-mortar retailers rather than online sellers and show growing interest in products containing cannabidiol (CBD), according to a new report.
The market research firm Packaged Facts estimated that U.S. retail sales of pet treats will hit $6.7 billion in 2019, a 3% year-over-year rise. Mass merchandisers such as Walmart and Target are the big dogs in pet treat sales, capturing a 33% market share compared with 18% for supermarkets and 13% for online sellers.
A Packaged Facts survey found that 11% of dog owners and 8% of cat owners have purchased supplements or treats containing CBD or hemp for their pets.
“CBD, or cannabidiol, supplements are in high demand in human markets, credited with treating conditions ranging from anxiety to asthma,” said Packaged Facts research director David Sprinkle. “The use of CBD has crossed over into the pet market, with usage spiking after the passage of the most recent Farm Bill in December 2018, which took a significant step towards separating hemp and hemp-derived CBD from marijuana-based products.”
News about treat recalls, especially of products made overseas, have led pet owners to look for manufacturers closer to home, Packaged Facts stated.
“The continuing cycle of recalls reinforces the practice of U.S. pet owners scrutinizing pet products to ensure that they are both made and sourced in the U.S.,” the report noted.
The report, Pet Treats and Chews in the U.S., 3rd Edition, also found that:
- 45% of dog owners and 36% of cat owners purchased general pet treats — dental and health care treats excluded — in the past 30 days.
- 12% of dog owners and 8% of cat owners buy treats using an online subscription or auto-ship service.
- Cat treats make up 16% of the overall treats and chews market.
“Pet treats have come a long way in the past 20 years, with the aisles of pet stores closely resembling the snack aisles of human foods at supermarkets and products positioned as better-for-your-pet,” Sprinkle said. “Limited-ingredient products, grain-free options and superfood ingredients are all in high demand, with innovative new product entries hitting the market on a regular basis.”
The report is available for purchase at http://bit.ly/2ARfq2p.