- Packaging volume is expected to grow by 11% though 2021, driven by wet food and treats. Unit volume growth in dry food is projected to remain flat, but wet dog and cat food is forecast to grow by 7% and 12%, respectively, through 2022. Treats are projected to see strongest growth, with unit volumes growing at 3% CAGR for dog treats and 9% CAGR for cat treats through 2022.
- As consumers trade-up to premium brands, average pack sizes are also expected to shrink. In wet dog food and dog treats, the smallest 1.8-4 oz size band is expected to see unit volume CAGRs of 4% and 6%, respectively, compared to 1% and 3% for their total respective categories.
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