The Pet Snacks And Treats Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pet Snacks And Treats Global Market Report 2024, The pet snacks and treats market size has grown rapidly in recent years. It will grow from $42.41 billion in 2023 to $47.55 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to sustainability and ethical practices, pet training and behavioral treats, product diversity and varieties, influence of social media.
The pet snacks and treats market size is expected to see rapid growth in the next few years. It will grow to $75.59 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to rising pet ownership, humanization of pets, health and wellness focus, premiumization of pet products, urbanization and busy lifestyles. Major trends in the forecast period include packaging innovation, functional dental treats, cultural and regional varieties, interactive and enrichment treats, incorporation of cbd and hemp.
The increasing spending on pet health is expected to propel the growth of the pet snacks and treats market going forward. Pet health refers to an animal’s overall well-being and condition, whether it is a dog, cat, bird, small mammal, or any other domesticated pet. Pet snacks and treats are rewards during training sessions, promote dental hygiene, and offer additional nutrients for a well-rounded diet. For instance, in June 2023, according to the American Pet Products Association, a US-based trade association representing the pet industry, Americans spent $136.8 billion on pet health in 2022, an increase of 10.68% from $123.6 billion in 2021. Therefore, increasing spending on pet health is driving the growth of the pet snacks and treats market.
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The pet snacks and treats market covered in this report is segmented –
1) By Product: Eatables, Chewable
2) By Category: Conventional, Organic
3) By Pet Type: Dogs, Cats, Birds, Fish, Other Pets
4) By Distribution Channel: Supermarkets And Hypermarkets, Specialty Pet Stores, Online, Other Distribution Channels
Top Major Players
Cargill Incorporated
Nestle S.A.
Mars Incorporated
General Mills Inc.
The J.M. Smucker Company
Product innovations are a key trend gaining popularity in the pet snacks and treats market. Major companies operating in the pet snacks and treats market are focusing on developing innovative products to sustain their position in the market. For instance, in May 2022, Wellness Pet Company, a US-based pet food company, launched Good Dog by Wellness, a brand of all-natural dog treats. Good dog-happy puppy treats are specially designed, grain-free snacks for growing puppies. With triple puppy care and purposeful ingredients such as veggies and omega-rich flaxseed, these bite-sized treats support brain development, immune health, and overall well-being and allow pet parents to choose from a variety of alternatives to address specific health and training needs, such as inspiring good behavior in a young puppy or maintaining the overall health of dogs of all ages.
The pet snacks and treats market report table of contents includes:
1. Executive Summary
2. Pet Snacks And Treats Market Characteristics
3. Pet Snacks And Treats Market Trends And Strategies
4. Pet Snacks And Treats Market – Macro Economic Scenario
5. Global Pet Snacks And Treats Market Size and Growth
………………………
32. Global Pet Snacks And Treats Market Competitive Benchmarking
33. Global Pet Snacks And Treats Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Pet Snacks And Treats Market
35. Pet Snacks And Treats Market Future Outlook and Potential Analysis
36. Appendix
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