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US Pet Food Market Report 2024-2032: Humanization of Pets and Premiumization Trend at the Forefront [Yahoo! Finance]
Last the j.m. smucker company earnings: 2/26 07:00 am
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Type, Ingredient Type, Distribution Channel 2024-2032" report has been added to ResearchAndMarkets.com's offering. The US pet food market size reached US$ 43.9 billion in 2023. The market is projected to reach US$ 59.9 billion by 2032, exhibiting a growth rate (CAGR) of 3.51% during 2023-2032 The rapid shift in demographic patterns, particularly the rise of millennials, the growing willingness to spend more on high-quality pet products, and the increasing demand for premium, dry, and wet pet foods and treats are among the key factors driving the market growth. Pet food is a specially crafted formulation prepared to cater to the nutritional needs of domesticated animals, including dogs, cats, birds, fish, and others. It contains a balanced blend of proteins, carbohydrates, fats, vitamins, and minerals that are essential for the growth, maintenance, and overall well-being of pets. The nutritional profile of pet food varies widely, determined by the type of animal it is intended
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