US Pet Market: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)

Executive Summary

The US pet market is anticipated to reach US$135.2 billion in 2026, experiencing growth at a CAGR of 3.50% for the period spanning 2022-2026. The market growth was driven by various factors such as rise in millennial population, growing adoption of e-commerce in pet care products and increasing share of single-person households. Furthermore, growth in the US pet market is expected to happen due to the surging adoption of veterinary telehealth and innovation of newer product categories. The market growth is likely to get disrupted due to pet food shortage.

The US pet market by category can be segmented as follows: pet food; veterinary products & services; pet supplies (products & OTC medicine) and other services. In 2021, the dominant share of market was held by pet food segment, followed by veterinary products & services segment.

The US pet market by distribution channel can be segmented into the following categories: online retail stores, specialty stores and supermarkets/hypermarkets. In 2021, the market was dominated by online retail stores segment. This was followed by specialty stores and supermarkets/hypermarkets segment.

US Pet Market: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)

Executive Summary

Scope of the report:

• The report provides a comprehensive analysis of the global polyethylene market with potential impact of COVID-19.

• The major regional markets (Asia Pacific, North America, Europe, MEA and South America) have been analyzed.

• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.

• The company profiles of leading players (LyondellBasell Industries, SABIC, Repsol Group, ExxonMobil Corporation, INEOS and MOL Group) are also presented in detail.

Key Target Audience:

• Polyethylene Manufacturers

• Raw Material Providers

• End Users (Businesses/Consumers)

• Investment Banks

• Government Bodies & Regulating Authorities.

US Pet Market: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)

US Pet Market: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)

Common Types of Pets

Common Types of Pets

Domesticated Wild

US Pet Market: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)

Impact of COVID-19

At the beginning of the global pandemic, individuals across the country were trying everything in order to beat the quarantine blues. Initially, flour and eggs flew off the shelves for the purpose of baking, then workout equipment went out of stock and art supplies were also impacted. Apart from this, imposition of lockdown and rise in quarantine period created higher demand for new furry friends. Adoption of pets skyrocketed as more people have decided to own a pet as they were all home and had adequate time for feeding them and training them. During the time of distress pets proved to be a loyal and happy companion for the individuals and acted as the best medicine. People had their attention diverted from the deadly pandemic as a result of their new pet.

Animal shelters in the Washington region have been experiencing a unique problem throughout the pandemic period, as more residents are at home. The practice of self isolation has created rising demand for the adoption of pets such as dogs and cats that its supply became increasing limited. Some animal shelters and humane rescue groups experienced double the typical number of requests from people regarding the adoption of pets since the initiation of pandemic in the US. As organizations have switched their in-person adoptions to virtual meet and greets, they were also competing with rescue groups in other parts of the country to bring in animals. Although it was expected that people would stop adopting pets during the pandemic because they would be required to conserve money for medical or other essential needs but nothing like that happened. Instead, people were more attracted towards pet adoption. Last Chance recorded growth in its pet adoption rate, mostly dogs from 30% to 40% over the year. Furthermore, Lucky Dog Animal Rescue situated in Arlington stated that they helped 3,385 pets to find a home by the end of 2020, up from 1,800 in the previous year. Encouraged by the enthusiasm of individuals to adopt new pets, various animal adoption centers boosted their organization’s online adoption services that were helpful during the time of pandemic.

Shelter Animals Count, that runs a database tracking shelter and rescue activity, looked at pet adoption rate during the global pandemic period and stated that 26,000 more pet adoptions were recorded in 2020 as compared to 2019. In April, around the beginning of the pandemic, national pet adoption rate jumped by 34% over the year. This happened because adopting a pet provided more emotional support to overcome stress during the pandemic. Moreover, pandemic was the perfect time to get a new pet because people had more time to spend with their new member. Thus, emergence of COVID19 pandemic had a positive impact on the US pet market.

US Pet Market: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)

The US Pet Market by Value

The US Pet Market by Value, 2017-2026 (US$ Billion)

Note: These are dummy figures. Please purchase the report for actual figures.

In 2026, the US pet market is expected to reach US$xx billion, increasing from US$xx billion in 2022, at aCAGR of xx%, during 2022-2026. Factors such as increasing population of youngsters and rising number of unmarried & childless households would impact market growth.

US Pet Market: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)

The US Pet Market by Category

The US Pet Market by Category, 2021(%)

Othe r Serv ices 25%

Pet Sup plies (Pro duct s & OTC Medi cine ) 25%

Pet Foo d 25% Vete rinar y Prod ucts & Serv ices 25%

Note: These are dummy figures. Please purchase the report for actual figures.

The US pet market can be categorized as follows: pet food, veterinary products & services and pet supplies (products & OTC medicine). In 2021, the dominant share of the market was held by pet food segment with xx%, followed by veterinary products & services and pet supplies (products & OTC medicine) segment with xx% and xx%, respectively.

US Pet Market: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)

The US Pet Market by Distribution Channel

The US Pet Market by Distribution Channel, 2021 (%)

Othe rs 25%

Sup erm arke ts/ Hyp erm arke ts 25%

Onli ne Reta il Stor es 25% Spe cialt y Stor es 25%

Note: These are dummy figures. Please purchase the report for actual figures.

The US pet market by distribution channel can be segmented into the following: online retail stores, specialty stores and supermarkets/hypermarkets. In 2021, the dominant share of the market was held by online retail segment with xx%. This was followed by specialty stores and supermarkets/hypermarkets segment with xx% and xx% share, respectively.

US Pet Market: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)

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