$75.2bn
$X.Xbn
61,538
3,461
$X.Xbn
Animal food producers primarily serve households and more commercially focused agricultural industries. Pet food sales typically follow macroeconomic conditions, as households typically fluctuate pet spending in accordance with financial means. Conversely, farming industries often rely on their animals as a source of revenue and are more likely to weather higher prices for premium goods. The rise in pet ownership in recent years, particularly during the pandemic's lockdowns, has benefitted animal food producers. Even as household pet numbers eased in the pandemic's wake, disposable income expanded, enabling consumers to spend more on their pets. Concurrently, the cost of key inputs, like corn and soybeans, spiked and selling prices followed. Over the past five years, revenue has been growing at a CAGR of 2.0% and is expected to reach $75.2 billion in 2024, when revenue will dip 1.2%.
Industry revenue has grown at a CAGR of 2.0 % over the past five years, to reach an estimated $75.2bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Nestle Sa | 7,342.7 | 1,302.5 | 17.7 | |
Mars Inc. | 7,321.0 | 261.6 | 3.6 | |
Cargill, Incorporated | 4,519.2 | 161.5 | 3.6 |
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Industry revenue is measured across several distinct product and services lines, including Dog food, Cat food and Poultry feeds. Dog food is the largest segment of the Animal Food Production in the US.
Surges in pet ownership during the pandemic leaves a lasting impact on dog and cat food sales
Operators in the Animal Food Production industry produce food for livestock and pets by processing raw ingredients. The products are then packaged and sold to cattle ranches, dairy farms, other animal production farms, grocery wholesalers and retailers.
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NAICS 31111 - Animal Food Production in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Rising pet ownership has boosted revenue, but volatile input prices have tempered profit. Few producers can effectively pass along price hikes to downstream buyers, causing p...
Learn about an industry's products and services, markets and trends in international trade.
Pet food fluctuates with dietary fads and disposable income. Pets are increasingly being seen as part of the family, and pet parents have accordingly become more concerned wi...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Animal food production is concentrated in the Plains as a result of inexpensive land costs and a climate favorable to crop production.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Pet food prices are paramount, but only for inexpensive products. Consumers who buy high-quality food are more likely to stick with a particular brand through ups and downs.
Learn about the performance of the top companies in the industry.
All three major players have pledged to work toward net zero emissions, which will secure revenue as sustainable shopping continues to become more important to consumers.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Animal food producers are heavily regulated, with the FDA closely monitoring product quality and marketing. Producers need to comply with laws regarding nutrition, too.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The price of feed's volatility restricts profit, and purchasing costs are overwhelmingly the largest expense for animal feed manufacturers as a production industry.
Including values and annual change:
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Key data sources in the US include:
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These sources include:
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The market size of the Animal Food Production in the US industry in United States is $75.2bn in 2024.
There are 3,461 businesses in the Animal Food Production in the US industry in United States, which has grown at a CAGR of 1.9 % between 2019 and 2024.
The market size of the Animal Food Production in the US industry in United States has been growing at a CAGR of 2.0 % between 2019 and 2024.
Over the next five years, the Animal Food Production in the US industry in United States is expected to grow.
The biggest companies operating in the Animal Food Production market in United States are Nestle Sa, Mars Inc. and Cargill, Incorporated
Prepared animal feed and Canned animal food are part of the Animal Food Production in the US industry.
The company holding the most market share in United States is Nestle Sa.
The level of competition is high and steady in the Animal Food Production in the US industry in United States.