As per Market Research Future Analysis, the Pet Snacks & Treats Market is projected to reach USD 101.3 Billion by 2030, growing at a CAGR of 5.65% from 2022 to 2030. This market segment is gaining traction due to the increasing pet adoption rates and the growing affection of owners towards their pets. The market is segmented by type (chewables and eatables), pet (dogs, cats, birds, fish, and others), category (conventional and organic), distribution channel (store-based and non-store-based), and region. North America is expected to dominate the market, driven by rising pet ownership and care focus, while Asia-Pacific is anticipated to register the highest CAGR due to changing lifestyles and increasing disposable incomes. However, market growth faces challenges from allergies related to active ingredients in pet snacks.
The pet snacks and treats market is evolving with notable trends.
Mars Incorporated (US), Nestlé S.A. (Switzerland), Colgate-Palmolive Company (US), The J. M. Smucker Company (US), LUPUS Food (Santa Luzia), Diamond Pet Foods (US), Charlee Bear Products (US), Addiction Foods (US)
The market players are anticipated to witness lucrative opportunities during the forecast period due to the rising demand for pet treats and snacks incorporated with functional ingredients having a positive impact on immune system, cognitive health, gut health, heart, skin & coat, joints, calming or motion sickness and dental care or oral health.
The global pet snacks & treats market has been segmented based on type, pet, category, distribution channel, and region.
By type, the global pet snacks & treats industry has been classified as chewable, and eatables.
On the basis of pet, the global pet snacks & treats market has been divided into dogs, cats, birds, fish, and others.
The global market has also been segregated, on the basis of category, into conventional, and organic.
By distribution channel, the global pet snacks & treats market has been classified as store based and non-store based. The store based segment is further segregated into supermarket and hypermarket, specialty stores, specialty stores, and others.
The global pet snacks & treats industry has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American pet snacks & treats market has further been segmented into the US, Canada, and Mexico. The European pet snacks & treats market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The pet snacks & treats market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The pet snacks & treats industry in the rest of the world has been segmented into South America, the Middle East, and Africa.
Global Pet Snacks & Treats Market Share (%), by Region, 2021
Source Primary Research, Secondary Research, Market Research Future Database and Analyst Review
North America is expected to dominate the market for pet snacks & treats during the forecast period owing to the increasing number of pet ownership in the region. The increasing focus on pet care in the region is driving the growth of North America pet snacks & treats market. Europe is also expected to hold a significant share of the global pet snacks & treats market due to the rising concerns regarding pet health, as pets are considered as a crucial family member rather than an animal. The market in Asia-Pacific is projected to register the highest CAGR during the forecast period due to the changing lifestyle of people, rising disposable income, and growing pet care industry.
Key Players in the Global Market
Recent Developments
Pet snack and treat market is booming, with pet owners increasingly spoiling their furry companions. Here's a look at the latest trends:
Eco-Conscious Choices: Sustainability is a growing concern for pet parents. Eco-friendly packaging and treats made with upcycled ingredients are gaining traction.
Nutrient Powerhouse Treats: Pet owners are seeking treats that go beyond just a reward. Products enriched with vitamins, probiotics, and omega-3 fatty acids are popular choices, promoting pet health and well-being.
Market on the Rise: Industry analysts predict a steady growth rate of 5% for the pet snack and treat market, reaching a value of over $22 billion by 2034
Here are some specific examples from recent months:
July 2023: Hill's Pet Nutrition launched a new line featuring treats made with insect protein and MSC-certified pollock, catering to pets with sensitive stomachs.
New Facility Investment: Mars Incorporated, a major pet food player, opened its first Asian research and development center in April 2023. This signifies a growing focus on pet nutrition innovation across the globe The pet snack and treat industry is evolving to meet the demands of health-conscious and environmentally responsible pet owners. We can expect to see even more innovative and specialized products emerge in the coming months.
Intended Audience
Pet Snacks & Treats Market Highlights:
Frequently Asked Questions (FAQ):
Based on type, the eatable segment, based on pet, the dogs’ segment, based on category, the conventional segment, and based on distribution channel, the store based segment, holds the major share in the global pet snacks & treats market.
Rising demand and favourable outcomes of consumption of functional ingredients on animal’s immune system & cognitive health, are major tailwinds pushing the growth of the global pet snacks & treats market.
North America holds the largest share in the global pet snacks & treats market, followed by Europe and the Asia Pacific, respectively.
Mars, Incorporated (US), Colgate-Palmolive Company (US), Nestlé S.A. (Switzerland), The J. M. Smucker Company (US), Diamond Pet Foods (US), LUPUS Food (Santa Luzia), Addiction Foods (US), and Charlee Bear Products (US), are some of the top players operating in the global pet snacks & treats market.
Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global pet snacks & treats market adopt to gain a larger competitive advantage.
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