"Global pet food sales alone in 2025 are projected to reach $158.4 billion, and have grown by over 53% since 2020, expecting to reach over 60% in over the next twelve months. As a result, companies such as Chewy ( NYSE: CHWY), Freshpet Inc ( NYSE: FRPT), Petco ( NASDAQ: WOOF), Nestlé S.A. (OTC: NSRGY), and The J. M. Smucker Company ( NYSE:SJM) will all be likely beneficiaries of the spending surge."
"From a cultural perspective, a case could be made that it all started with Disney films like Lady and the Tramp and 101 Dalmatians , Charles M. Schultz's "Snoopy" comic strip and the TV series, . The notion that pets had creative thinking and anthropomorphic qualities had existed previously in fantasy literature, but its visual depiction and the manifestation of pet interactions with humans as equals led to a trend that has resulted in today's "humanization of pets.""
U.S. households show widespread pet ownership, with Millennials comprising 32% of pet owners. Global pet food sales are projected to reach $158.4 billion in 2025, having grown over 53% since 2020 and expected to grow further past 60% within the next year. Major pet retailers and food companies such as Chewy, Freshpet, Petco, Nestlé S.A., and The J. M. Smucker Company are likely to benefit from increased spending. Cultural influences from Disney films and Charles M. Schultz's Snoopy popularized anthropomorphic depictions of pets. Emotional bonds and the humanization of pets are driving demand for premium food, treats, medical care, and entertainment products.
Read at 24/7 Wall St.
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