Purina PetCare holds the largest market share in the US pet food sector and Nestle executives expect their pet food division to expand this year, according to Nina Leigh Krueger, chief executive officer and president for Purina North America at Consumer Analysts Group of New York (CAGNY) conference in Boca Raton Florida USA on Feb 24.
Purina PetCare was Nestle’s second largest category after coffee sales last year, boasting sales exceeding CHF18 billion (US$19.2 billion) and profitability exceeding 20%.
“This year we anticipate double digit growth as we adjust pricing,” she stated, but she anticipates a return to more historical norms of between 6-8% compound annual growth by 2025 in the United States.
Kruger pointed to Nielsen retail sales data when making this prediction: Purina PetCare products held the largest portion of U.S. pet food market share by far in 2022, according to Kruger’s estimate.
Purina led the market with 29%, followed by Mars at 17% and J.M. Smucker with 8% (both J.M. Smucker products were tied), Hill’s at 7%, Blue Buffalo at 6% (all JM Smucker) with private label having an impactful presence at 8% as well as others at 25%, according to she stated. Purina held top spots across many aspects of pet nutrition she stated.
Purina products are bought by 56 million households worldwide. Furthermore, Purina holds the highest household loyalty or share of wallet compared to any other manufacturer in its category; and also ranks number one when it comes to online sales.
“While our metrics are impressive, what’s really exciting is our accelerated growth driven by strong brands. Last year alone we reached 15% growth; though some of this may have been pricing related; volume has also experienced exponential increases.”
More about leading pet food companies
Purina held the highest U.S. market share and Mars Petcare had the highest annual worldwide revenue at US$19 billion according to Petfood Industry’s Top Companies Current Data in 2022; Nestle Purina PetCare recorded US$16.5 billion as annual revenues in 2021.