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Pet Snacks & Treats Market Size is influenced by a range of market factors that contribute to its growth and evolution. A primary driver is the increasing humanization of pets, where owners consider their pets as family members and seek to provide them with high-quality and indulgent treats. This growing trend in humanizing pets is propelling the demand for premium and health-focused snacks, positively impacting the market.
Consumer awareness of pet health and nutrition is another crucial factor shaping the Pet Snacks & Treats Market. As pet owners become more conscious of the ingredients in their pets' food, there is a rising demand for snacks that are not only flavorful but also nutritious. Treats with natural, organic, and functional ingredients that offer health benefits are gaining popularity, contributing to the overall market size.
The Pet Snacks & Treats Market is expected to achieve a Compound Annual Growth Rate (CAGR) of 5.65%, reaching a value of USD 101.3 Billion by the year 2030.
The e-commerce boom is significantly influencing the Pet Snacks & Treats Market. The convenience of online shopping and the availability of a wide range of pet snack options contribute to the market's growth. Online platforms allow pet owners to explore and choose from diverse treats, including specialty and niche products. This ease of access to a variety of pet snacks through e-commerce channels positively impacts the market as it broadens the reach to a global audience.
Pet ownership trends and demographics play a vital role in shaping the market landscape. As pet ownership continues to rise globally, especially in urban areas, the demand for convenient and portable pet snacks increases. Busy lifestyles and the need for on-the-go pet treats contribute to the popularity of easily accessible and portable snack options, influencing the market dynamics.
Innovations in product offerings and flavors are key factors driving the Pet Snacks & Treats Market. Pet owners are continually seeking novel and exciting treats for their furry companions. Manufacturers are responding to this demand by introducing a wide array of flavors, shapes, and textures in pet snacks. These innovations not only cater to pet preferences but also contribute to brand differentiation and customer loyalty in the competitive market.
Health concerns and the rise of pet obesity are prompting pet owners to scrutinize the nutritional content of pet snacks. As a result, there is a growing demand for snacks that not only taste good but also align with specific dietary needs. Functional treats, such as those addressing dental health or joint mobility, are gaining traction, reflecting a market trend where pet owners prioritize their pets' overall well-being.
The Pet Snacks & Treats Market Size is also influenced by economic factors, including disposable income and spending patterns. Economic stability and an increase in disposable income allow pet owners to allocate more resources to premium and specialty pet snacks. Additionally, the willingness to spend on pet indulgences is higher in economically stable periods, positively impacting the market.
Consumer perceptions of sustainability and ethical sourcing are becoming increasingly important in the pet industry. Pet owners are showing a preference for snacks made from ethically sourced ingredients, and they are concerned about the environmental impact of pet food production. Companies that prioritize sustainability in their sourcing and production processes are likely to gain a competitive edge in the Pet Snacks & Treats Market.
In conclusion, the Pet Snacks & Treats Market Size is shaped by a combination of factors that reflect evolving consumer preferences, pet ownership trends, and broader economic influences. As pet owners seek to provide their pets with high-quality, nutritious, and innovative treats, the market continues to expand and diversify. The dynamic nature of these market factors positions the Pet Snacks & Treats Market as a vibrant and responsive segment within the broader pet care industry.
Pet Snacks & Treats Market Highlights:
Pet Snacks & Treats Market Overview
Pet Snacks & Treats Market Size is Estimated to Reach USD 101.3 Billion by 2030 and it will register a CAGR of 5.65% during forecast period 2022 to 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.
Pet Snacks & Treats Market Segmentation
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, 2021
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.Recent DevelopmentsPet 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 2034Here 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.
Global Market, By Type
- Chewables
- Eatables
Global Market, By Pet
- Dogs
- Cats
- Birds
- Fish
- Others
Global Market, By Category
- Conventional
- Organic
Global Market, by Distribution Channel
- Store-Based
- Supermarket and Hypermarkets
- Specialty Stores
- Others
- Non-Store-Based
Global Market, by Region
-
North America- US
- Canada
- Mexico
-
Europe- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
-
Asia-Pacific- Japan
- China
- India
- Australia and New Zealand
- Rest of Asia-Pacific
-
Rest of the World (RoW)- South America
- Middle East
- Africa
Key Players in the Global Market
- 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)
Intended Audience
- Pet snacks & treats manufacturers
- Raw material suppliers and distributors
- Pet snacks & treats subcomponent manufacturers
- Traders, exporters, and importers
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