Higher costs, smaller dogs and more cat adoptions are all hitting Freshpet's sales, analysts say

Core Insights - Higher living costs and a slowdown in pet adoptions have negatively impacted Freshpet Inc., a high-end pet-food manufacturer [1] - There is a growing preference among consumers for cats and smaller dog breeds, which further affects Freshpet's market position [1] Company Summary - Freshpet Inc. is facing challenges due to increased living expenses, which are influencing consumer spending on premium pet food [1] - The company is also experiencing a decline in pet adoptions, which is critical for its customer base [1] Industry Summary - The pet food industry is witnessing a shift in consumer preferences, with a notable trend towards cats and smaller dogs, impacting demand for certain products [1] - Analysts from BofA have highlighted these trends as significant factors contributing to Freshpet's current struggles in the market [1]