Pet treats in the US
In the American market, pet wellness and functional innovation are key to pet treat growth.
Market status
Packaged Facts (Pet Treats and Chews in the U.S., June 2015) estimates US retail sales of pet treats at $5.7 billion (€5.2 billion) in 2015, reflecting a compound annual growth rate of nearly 6% over the previous five-year period.
While sales growth in the treat market has outpaced that of the more mature pet food market and of non-food pet supplies in general, an upsurge in product recalls in 2012 and 2013 and then again in 2015 has placed consumers on alert and moderated market growth. Dog treats account for 80% of the market, although a growing range of cat owners buy treats for their pets.
Factors to consider
Continued success in the market depends on finding innovative yet substantive ways to appeal to consumers. ‘Pet parents’ in particular want high-quality treats that provide taste and chewing satisfaction plus nutritional benefits for their pet, in a convenient format that will appeal to both pet and owner. Factor in safety and eco-conscious concerns and the bedrock demand for value, and pet treat marketers have a full plate of factors to consider when bringing new pet treats to market.
Luckily, pet owners tend to be willing or even eager to try out new products. According to IRI’s 2014 New Product Pacesetter report, 14% of purchasers in the pet market are considered “new product enthusiasts”, having indicated that they are early adopters of products, wanting to have the latest and best products, and are “always looking for new pet products to try”. Among pet care new product enthusiasts, 61% identified products that promise to improve their pet’s health as a primary driver for purchase.