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Treats and Snacks are the Fastest-Growing Segment of the Pet Food Market, According to PMMI Business Intelligence.

With a CAGR of 6.3% through 2024, market share growth of treats and snacks will come primarily from wet and dry food although these two segments, historically strong, are not expected to lose significant market share.

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According to the just released study, “Trends and Drivers Impacting the Pet Food Industry 2020,” the presence and role of foreign owned companies in North America is minimal in comparison to domestic brands. Since the recall of tainted pet food ingredients from China back in 2007, consumers have shown a preference for domestically manufactured pet food due to the quality assurance of the ingredients used and nutritional content still present in the products.

In addition, the study finds that the carbon footprint of freight required to import pet food is taken into consideration by environmentally conscious consumers who want to minimize greenhouse gas emissions.

Major U.S. players include: Mars Petcare, JM Smucker, Hill’s Pet and Diamond Pet Foods. 

Pet food companies of all sizes use co-packing services, though for varying reasons.  Small and medium size companies use co-packers to produce premium products, and as a cost-effective method for increasing production capacity through the growth curve.

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