MARKET OUTLOOK
The market for pet healthcare in the United States is projected to expand with 2.62% of CAGR in the forecasting period of 2019-2025.
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More than half of the families in the U.S. own a dog, or a cat or any other pet. However, the population of dogs is high in the country. This results in the establishment of dog parks in every major city and town. Furthermore, people adopt pets as their children get married or move away for education. Moreover, pet owners in the United States are more informed and scrutinize the quality and sourcing of the ingredients in pet healthcare products. They also react quickly to product recalls and voice their concerns through blogs, social media, as well as through offline channels. Agencies such as the US FDA are taking steps to regulate the pet food market under the Food Safety Modernization Act (FSMA) to ensure quality control and supply chain management. The growing demand for nutritional and premium pet food products drive the value sales of the market in this region. The constant introductions of newer varieties of pet food products such as organic products that use fruits and vegetables as natural colorants also drive the market in the United States which is increasing the United States pet healthcare market growth.
COMPETITIVE OUTLOOK
The dominant companies in the United States pet healthcare market are Hartz Mountain Corporation, Zoetis, Inc., Neogen Corporation, The J.M. Smucker, Co., Bayer AG and Eli Lilly and Company.