The global pet snacks and treats market size accounted for USD 37.9 billion in 2022 and it is anticipated to hit around USD 123.2 billion by 2032, poised to grow at a CAGR of 12.5% from 2023 to 2032.
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Pet snacks and treats are the food products offered to various pets and they are derived from animal material and plant material. This is a specialized product provided to dogs, cats, and other aquatic animals. Different kinds of beverages, treats and snacks are available for pets. Treats are offered to the pets to bring about positive behavior in them.
Snacks are instrumental in increasing the nutritional intake of pets. The products are available in the form of dried fruits, dried vegetables, and biscuits. Pet snacks and treats are also available in the form of roasted grains. Different types of treats consist of dental chews, jerky and other products. All these products are available in the form of powder, wet products, and dry products.
The market is expected to grow in the long run due to the growing demand for functional treats. Few health benefits are associated with the consumption of these treats when the nutritional content of these products is taken into consideration. Treats can be prepared industrially, and they are available in the form of biscuits, semi-moist treats, dried parts of various animals, and extruded products.
To prevent anxiety, and bad breath and to increase the immunity of pets these treats have gained popularity. They also help in improving the coat of the pets and the skin of the pets. Functional treats are available in the form of products that are beneficial for the joints and the teeth. Pet owners make use of these treats to improve their relationship with pet animals. New companies are entering the market to specialize in the production of various palatable treats and snacks.
Report Scope of the Pet Snacks and Treats Market
|Market Size in 2023||USD 42.64 Billion|
|Market Size by 2032||USD 123.2 Billion|
|Growth Rate from 2023 to 2032||CAGR of 12.5%|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2023 to 2032|
|Segments Covered||By Product, By Pet Type and By Distribution Channel|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
Key Market Drivers
Increased number of pet parents
Increased sales through e-commerce platforms
Key Market Restraints
Key Market Opportunities
Growing demand for senior formulation
Vegan and vegetarian diets are gaining popularity
The trend of pet humanization will drive the market growth
Key Market Challenges
Strict rules and regulations are associated with snacks and treats.
The eatables segment dominated the market in the past. New products are launched constantly to meet the growing demand for innovative products. Natural ingredients are used in premium products to meet the growing need for functional foods. The vegan diet is also gaining popularity and prominent players are engaged in offering such snacks and treats.
Pet owners are likely to purchase vegetarian snacks and treats for pets on a large scale in the coming years due to the benefits associated with the consumption of such products.
Snacks and treats are available in chewable form. This segment is also expected to register significant growth. In the elderly pet, broken or loose teeth lead to indigestion, and to address this issue snacks and treats are offered in the form of chewable. Many market players are launching chewable products to meet the nutritional demand of aging pets.
Pet Type Insights
The highest compound annual growth rate will be registered in the cat segment. To ensure the good health of cats and other pets the need for functional foods and premium food is expected to increase. Although various companies are engaged in the production of cat food, a large number of snacks and treats are consumed by the dog segment.
Digestive disturbance and allergies are expected to create more demand for a vegan diet, and this shift in the consumption of snacks and treats will drive market growth.
Distribution Channel Insights
The hypermarket and supermarket segments will generate maximum revenue. A variety of pet foods are available at these stores. Various flavors and the availability of vegan food products will drive market growth for this segment during the forecast period. The major chains of these stores provide a variety of premium products.
After the outbreak of the COVID-19 pandemic, the online segment has gained momentum. The shopping habits of people have changed to a great extent due to the advantages provided by e-commerce platforms. The availability of discounts on products at a single place with lucrative offers and doorstep delivery will increase the sales of pet snacks and treats through this mode.
The majority share is held by the North American market across the globe. Different types of pets are adopted on a large scale in North American nations. This happens to be the most important reason for the growing demand for pet snacks and treats in this region. Pet humanization is gaining popularity in most nations across the globe and similar is the case in the North American region due to which the demand for pet snacks and treats has grown tremendously.
The constant demand for nutrition will lead to the manufacturing of healthy products for pets. The amount of money spent on premium and high-quality products in the North American region is the most.
The constant need for safe and sustainable food products is expected to drive market growth in European nations. The ingredients used in the manufacturing of pet snacks and treats in the European nation demand better transparency. Highly conscious pet parents in the European nation led to the introduction of new and innovative products in the market.
The fastest growth will be registered in the Asia Pacific nations, especially in the countries like China, Australia, and Japan. The revenue generated in these nations is maximum. Important food products for cats and dogs have a greater demand in Japan. Significant growth will be registered in India in the anticipated time frame. The amount of expenditure made on premium food products is expected to grow during the forecast period. Investments made by the prominent market players for the developing nations have also grown significantly in recent times and this is also expected to drive market growth.
Key Market Developments
Key Market Players
Segments Covered in the Report
By Pet Type
By Distribution Channel
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