Pet Snacks & Treats Market is projected to register a CAGR of 5.65% and reach a value of USD 101.3 Billion by 2030
Pet snacks & treats are the chewables and eatables offered to pets as a mode of appreciation and even as health supplements. Pet snacks are mainly eatables, whereas, treats are available in the form of both eatables and chewables. The global pet snacks & treats market is a minor but significant segment of the global pet food market, and it is gaining pace owing to the surging adoption of pets across the globe and increasing affection of owners towards their pets. An increasing acceptance of pet adoption is being witnessed among the high- and middle-income population base. This is also contributing towards the surging sales of pet snacks and treats. However, allergies due to active ingredients present in pet snacks is creating hurdles in the growth of the market. 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.
Regional Market Summary
Global Pet Snacks & Treats Market Share (%), by Region, 2017
Source: Secondary Sources and MRFR Analysis
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.
Global Market, by Type
Global Market, by Pet
Global Market, by Category
Global Market, by Distribution Channel
Global Market, by Region
Key Players in the Global Market
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.