Pet Snacks And Treats Market to Grow with a CAGR of 5.3% Globally through 2028
Rising pet ownership and shift towards healthier pet
treats are driving the Global Pet Snacks And Treats Market in the forecast
period 2024-2028.
According to TechSci Research report, “Global Pet
Snacks And Treats Market - Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Pet Snacks And Treats
Market stood at USD 8.21 Billion in 2022 and is anticipated to grow with a CAGR
of 5.3% in the forecast period, 2024-2028. The global pet snacks and treats
market has experienced remarkable growth in recent years, reflecting the
evolving dynamics of pet ownership and the heightened focus on pet well-being.
This market segment encompasses a wide range of products, including biscuits,
chews, jerky, and dental treats, all designed to offer both nutritional
benefits and indulgence for pets. The industry's expansion is primarily
attributed to the growing awareness of pet owners about the importance of
providing high-quality and healthy treats to their beloved companions.
One notable trend in the pet snacks and treats market
is the shift towards natural and organic products. Pet owners are increasingly
seeking snacks and treats that contain wholesome ingredients, free from
artificial additives and preservatives. This preference for healthier options
has led to a surge in the production of natural and organic pet treats.
Manufacturers are using real meats, vegetables, and other high-quality
ingredients to cater to this demand. Additionally, products with functional
benefits, such as promoting dental health or aiding in joint mobility, are
becoming increasingly popular.
The convenience of online shopping has played a
pivotal role in driving the growth of the pet snacks and treats market. Pet
owners can easily access a vast variety of products through online platforms,
enabling them to make informed choices and compare different brands. E-commerce
has opened new opportunities for emerging and niche brands, allowing them to
gain recognition and reach a broader customer base. This digital marketplace
makes it easier for consumers to explore and experiment with unique and exotic
pet treats from various corners of the world, contributing to market growth.
Furthermore, the pet snacks and treats market is
characterized by customization and specialization. Pet owners are looking for
treats tailored to their pets' specific needs, be it for small or large breeds,
puppies or senior dogs, or pets with dietary restrictions. This trend extends
to addressing various health concerns, such as weight management, allergies,
and digestive health. Brands are introducing specialized products that cater to
these requirements, enabling pet owners to provide the best possible care for
their animals. This trend aligns with the broader movement towards
personalization in consumer goods.
However, the pet snacks and treats market is not
without its challenges. Manufacturers must navigate a complex regulatory
landscape, as pet food regulations can vary significantly between regions and
countries. Compliance with these regulations requires careful attention to
ingredient sourcing, production processes, and labeling standards.
Additionally, the rising cost of high-quality ingredients poses a challenge, as
it can affect product pricing and profitability. Manufacturers must balance the
desire for premium and wholesome ingredients with the need to keep their
products affordable.
Competition in the pet snacks and treats market is
fierce. With numerous players vying for market share, companies must
continually innovate and differentiate their products to stand out in a crowded
marketplace. This innovation involves investing in research and development to
create unique and appealing treats that cater to evolving consumer preferences.
Moreover, maintaining transparency in ingredient sourcing, product quality, and
safety is critical for building and retaining consumer trust.
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In summary, the global pet snacks and treats market
continues to thrive, with a growing demand for natural and organic options,
functional benefits, customization, and the convenience of online shopping.
However, it also faces challenges related to regulatory complexity, rising
ingredient costs, competition, and the need to uphold quality and safety
standards. As pet owners increasingly prioritize their pets' well-being, the
pet snacks and treats market is poised for further expansion and innovation in the
coming years.
The Global Pet Snacks And Treats Market is segmented
into product, pet type, sales channel, regional distribution, and company.
Based on product the market is segmented eatables and
chewables. The global pet snacks and treats market has witnessed a surge in the
demand for eatables, driven by the evolving perception of pets as cherished
family members. This growing trend reflects the desire of pet owners to provide
their animals with high-quality and enjoyable treats, much like they would for
any other family member. The appeal of eatables lies in their capacity to offer
both nutrition and enjoyment, aligning with the pet owners' need to see their
pets happy and satisfied, resulting in a significant rise in demand.
Based on pet type the market is segmented into dog,
cat, and others.
Based on sales channel the market is segmented into supermarkets/hypermarkets,
pet specialty stores, online and others.
Based on region the market is segmented into five
regions, North America, Europe, Asia Pacific, Middle East & Africa, and
South America.
Major companies operating in Global Pet Snacks
And Treats Market are:
- Mars, Incorporated
- Nestlé
- SCHELL & KAMPETER, INC.
- The J.M. Smucker Company,
- Hill's Pet Nutrition, Inc.,
- Addiction Foods
- Wellness Pet Company
- Spectrum Brands, Inc.
- Unicharm Corporation
- Blue Buffalo Co., Ltd
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“Expansion of ecommerce channel is a significant trend
that is expected to have an impact on growth over the forecasted period. Rising
pet ownership, emphasizing natural and functional ingredients and shift towards
healthier pet treats will positively impact the Global Pet Snacks And Treats
Market. Due to the wide range of products available to meet specific needs of,
as well as the growing popularity of the online sales channel, the market is
growing at impressive rate through projected period,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Pet
Snacks And Treats Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast, Segmented By Product (Eatables, Chewables), By Pet Type (Dog,
Cat, Others), By Sales Channel (Supermarkets/Hypermarkets, Pet Specialty
Stores, Online, Others), By Region, By Competition, 2018-2028”, has
evaluated the future growth potential of Global Pet Snacks And Treats Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Pet Snacks And Treats Market.
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