Industry Analysis & Industry Trends
The Dry Pet Food Production industry has fared well over the past five years. Pet ownership and disposable income are forecast to rise over the five-year period. Growth of these key industry drivers has coincided with a growing tendency for consumers to treat their pets as members of the family, encouraging owners to not only spend more on dry pet food, but to increasingly purchase premium-priced specialty pet food products. Pet ownership is projected to continue to grow over the next five years, partly driven by rising disposable income, which will enable more consumers to afford owning and caring for pets... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Dry Pet Food Production industry is in the growth stage of its life cycle. Over the 10 years to 2022, industry value added (IVA), which is the degree to which industry revenue contributes to US GDP, is projected to increase at an annualized rate of 4.7%. US GDP is projected to grow at a slower annualized rate of 2.0% over the same period. This contrast highlights that the industry is expected to contribute significantly to the overall economy over the 10-year period, which is an indicative feature of growing industries.
The industry is moderately concentrated with the largest four companies collectively generating an estimated 51.6% of industry revenue in 2017. Major industry operators have expanded their market share through acquisitions over the period. Exa.. purchase to read more