Pet Treats Market Size, Competitive Landscape and Market Forecast - 2029
Global Pet Treats Market is Segmented By Product Type(Crunchy Treats, Freeze-dried and Jerky Treats, Soft and Chewy Treats, Others), By Animal Type(Dogs, Cats, Others), By Distribution Channel(Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Sales, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Market Overview:
[150 Pages Report] The Global Pet Treats Market valued is growing at a CAGR during the forecast period (2022-2029).
Pet Treats Market - Strategic Insights
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Metrics |
Details |
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Market CAGR |
High |
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Segments Covered |
By Product Type,By Animal Type, By Distribution Channel and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Pet treats are created from various meat or meat-derived materials combined with additional ingredients such as potato starch, vegetables, fruits, cereal flours, fats, oils, and additives. Pet treats are tasty and nutritious extras that pet owners give to their animals to reward and comfort them. There are a great variety of products in diverse sizes, textures, appearances, and flavors in the market. Some of the factors propelling the global pet treat market forward include the expansion of pet adoption in developed nations and the humanization of pets, particularly in western countries.
Market Dynamics:
Increasing adoption of pets and growing pet humanization trend
The increased adoption of pets, particularly in developing nations, is one of the primary drivers driving the market growth. Pet owners are becoming more mindful of their pets' nutritional demands due to their humanization and are feeding them only high-quality, nutritious food. This element is likely to positively impact the global pet treat market's growth. Furthermore, as per capita wealth rises worldwide, pet owners are ready to spend more on their pets' health. Additionally, pet treat producers worldwide are putting a lot of effort into dominating the market by releasing a varied selection of products to cater to the needs of all types of pets of various ages and nutritional requirements. Crunchy and chewy snacks are preferred by dogs, while cats prefer wet foods. However, both of these animals require high protein treats to meet their fundamental dietary requirements. Companies produce specific treats for other pet kinds, like rabbits, to boost their consumer market.
Market Segmentation:
Dog segment is dominating in the global pet treats market
The global pet treats market is divided into dogs, cats, and others. Due to the growing popularity of dogs as pets, the dog sector held the greatest market share in 2021. Breed dogs demand a great deal of attention in hygiene and health. As a result, dog owners are quite selective about what they feed their dogs, which helps to drive up demand for dog meals. Natural treats are abundant in proteins, which aid in improving a dog's immune. Furthermore, unlike some low-quality dog treats, high-quality natural dog treats are soft on the stomach and can be digested properly. All-natural pet treats can help pet's teeth and overall wellness.
Based on distribution channels, supermarkets and hypermarkets held the highest market revenue share of XX% in 2021. Hypermarkets allow customers to satisfy all their shopping needs. Supermarkets and hypermarkets focus on maximizing product sales to increase their profit margins. In North America and Europe, supermarkets and hypermarkets are the most preferred retail outlets to purchase consumer goods. One of the key elements driving this domination is consumers' desire to visit huge retail outlets with wider product ranges and prices. Furthermore, supermarkets/hypermarkets profit from vibrant and shiny packaging displayed on store shelves.
Geographical Penetration:
North-America is expected to dominate the global pet treats market
The primary driving variables supporting the North American pet food market's growth are increasing pet humanization and pet ownership, the emergence of private label retail brands, and growing urbanization followed by increased disposable incomes. Human nutrition strongly influences the market, encouraging research toward better and safer pet food with high nutritional and dietary benefits. Additionally, as local producers grow their position in the domestic market, locally sourced and ethically sourced items are boosting the industry. According to the National Pet Owners Survey 2019-20 conducted by the American Pet Products Association (APPA), 63.4 million households own dogs as pets, accounting for 74.6 percent of all pet-owning households in the United States. This combined with dog owners' increased attention to selecting healthy and nutritious food for their pets is driving sales of various types of dog foods across the country. Pet owners prefer functional snacks over other treats because they provide additional health advantages to their pets. As a result of this trend, key market participants are producing new functional treats to suit the need of pet owners. For example, Hill's Pet Nutrition developed a new line of nutritional dog treats in 2019 specifically designed to help dogs maintain their weight.
Competitive Landscape:
The pet treats market is fragmented. The pet treats market is competitive and comprises numerous regional and international competitors. Furthermore, while engaging the consumers with innovation and expansion strategies, key players capitalize on the market revenue. Phelps Pet Products, a pet treats manufacturer based in the United States, signed a licensing arrangement with The Walt Disney Company in March 2021. Through this collaboration with Disney, products based on Disney and Pixar cartoon characters will be released. This themed product line will be known as 'Table ScrapsTM,' It will be aimed exclusively at dogs. Jinx, a dog food and treat manufacturer based in the United States, released two new product categories in April 2021 to expand their product line. Two new meal toppers and a limited-ingredient dental chew in two sizes have been added. In this shifting lifestyle, the additions were designed with the omnivorous needs of the dogs in mind.
COVID-19 Impact:
Positive impact on the global pet treats market
With people spending more time at home, there were more opportunities for trips to the pantry/snacking. The COVID-19 pandemic has changed the way consumers value their own food choices and that trend appears to apply to the pet products they purchase as well. More time spent at home with pets during the pandemic means that pet owners were likely more tuned into their companions’ needs. The COVID-19 pandemic not only radically shifted purchasing behavior, but there are also a record number of first-time pet owners who adopted animals during lockdown measures. Puppy adoption rates expanded by 50-100 percent by 2020, while the cat market is expected to grow by 40%, increasing demand for pet treats. Since the news of COVID-19 was announced, 38 percent of pet owners have become more concerned about their pets' health and beauty. According to a poll, 63 percent of pet owners said they spent more time with their pets during the global lockdown. Despite the impending recession, 17% of pet parents reported spending more on pet supplies. Online shopping and subscription services experienced considerable gains in market share as a result of social distancing and hygiene-enhanced delivery options. In the US, eCommerce made up 16% of the pet food category before COVID-19 and now represents 23%.
FAQ
What is the Pet Treats Market growth?
The market is growing at a high CAGR.
What is Pet Treats Market size in 2021
The Pet Treats Market size was valued at USD YY million in 2021.
Who are the key players in Pet Treats Market ?
Nestle Purina Pet Care Company, Well Pet LLC, Diamond Pet Food, Colgate-Palamolive Company, Heristo A.G, Merrick Pet Care Inc.