Pet Food Sales Are Off the Leash

U.S. pet owners are expected to spend around $54 billion on pet food in 2022, which is an increase of around $25 billion from 2017. As our chart based on estimates from the Statista Consumer Market Outlook shows, per-capita sales in the U.S. are also growing.

Pet food sales are expected to see an average annual growth rate of 8.5 percent from now until 2027, when they are forecast to hit $80.75 billion. The U.S. generates the most revenue for pet foods out of any country in the world.

However, the largest growth market for animal feed worldwide is actually in South America. According to our outlook, the compound annual growth rate for sales of animal feed in Argentina will be 60 percent between 2022 and 2027. Following the U.S, the top five currently consists of China, the United Kingdom, Brazil and Germany.