Animal Food Production in the US
The Animal Food Production industry has benefited from increased demand over the past five years, however import penetration has tempered revenue growth. Growth in global meat consumption and herd numbers, such as beef, pork and poultry produced modest revenue growth during this period, as meat producers demanded more livestock feed. Additionally, the number of American households that own a cat or dog is steadily increasing, which has caused a subsequent increase in demand for pet food, supporting industry revenue growth. Overall, IBISWorld expects industry revenue to grow over the five years to 2017. Industry revenue growth is expected to grow moderately over the next five years. Expected increases in disposable income and pet ownership will positively drive demand for pet food. However, the appreciation of the US dollar will reduce exports over the five-year period. Stagnant feed prices will offset gains from greater pet food sales, leading the industry to experience little growth over the next five years. Consequently, industry revenue is forecast to increase over the five-year period.
Operators in this industry produce food for animals such as 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.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.