Published Date : 05 May 2023
The global pet snacks and treats industry revenue will attain around USD 123.2 billion by 2032 from USD 37.9 billion in 2022 and is growing at a CAGR of 12.5% between 2023 and 2032.
In the upcoming years, there will be a rise in the consumption of pet snacks and treats as knowledge about the nutrition and health of pets grows. The industry's expansion has also been significantly influenced by a rise in disposable income.
Dogs and other pets are rewarded with cat snacks or pet treats for paying attention to you. Dogs can be trained to perform a trick, obey a command, or go outside to relieve themselves. One excellent method for teaching dogs is by using dog treats. It's critical to know which goodies your pet like in order to make sure it's content when you give it a snack. Both pet stores and internet retailers sell a variety of goodies for animals. Purchasing natural treats may be quite beneficial for dogs. Snacks that are natural and of the highest caliber are low in fat and a good source of protein.
In the upcoming years, there will be a rise in the consumption of pet snacks and treats as people become more knowledgeable about pet nutrition and health. The rise in disposable income has also been a major factor in the industry's expansion. The industry has a selection of wholesome foods and unique nibbles. Pet adoption has substantially expanded around the globe, which has raised the demand for these items. For both cats and dogs, there are several tastes and selections on the industry. The industry is anticipated to increase as a result of many options. Industry expansion is projected to be fueled by these items' simple accessibility on e-commerce platforms.
Two corporations, PetSmart and PETCO Animal Supplies, will control more than 45 percent of the pet retail industry in the United States by 2022, making it a highly consolidated sector. On the demand side, pet owners between the ages of 45 and 64 made up the most significant target demographic for pet store industryers in 2021, accounting for more than 40% of all pet store sales. However, those between the ages of 25 and 44 came in second place, accounting for 38.7 percent of pet store sales. Nestle Purina Petcare Co. had the greatest industry share in 2022 for both dry dog food and dry cat food, selling more than 2.2 billion dollars’ worth of dry dog food and around 1.37 billion dollars worth of dry cat food.
Due to its massive pet population and concentration of densely inhabited nations, Asia is one of the world's largest geographical areas. As more individuals chose pets to combat loneliness and anxiety difficulties in many nations, the Covid epidemic led to an increase in pet ownership globally, particularly in Asia. Therefore, having a pet has raised the demand for pet treats in the area.
Pet Snacks and Treats Industry Report Scope:
|Market Revenue in 2023||USD 42.64 Billion|
|Projected Forecast Revenue in 2032||USD 123.2 Billion|
|Growth Rate from 2023 to 2032||CAGR of 12.5%|
|Largest Market||North America|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
Drivers: Increasing demand for dry meals
Greater demand for dry meals and a decrease in demand for canned foods were developments in the pet food industry. According to research, a soft diet of canned dog food accelerated the development of gum disease more quickly than dry food. An increased interest in more nutrient-dense and scientifically developed pet foods, such as life-cycle products for younger and older pets, and therapeutic foods for specific health conditions of the pet, like weight loss and urinary issues, has generally been attributed to the growing health consciousness of the general public. Additionally, pet food manufacturers tended to employ more tissue rich in protein and less tissue high in fat and tallow. Last but not least, the industry for pet snacks expanded thanks to items like jerky snacks, sausage-shaped bits, biscuits, and biscuit pieces referred to as kibbles.
Restraints: Strict government regulations
Strict rules will impede industry expansion. These goods are all very strictly controlled. When it comes to Western nations, the policies that these countries have established pose a threat to the industry's expansion. The use of the components is rigorously scrutinized. The tight industry of these items is also anticipated to hinder industry expansion. Although there are high-quality, premium items in the industry, they are pricey, which is another factor that will limit industry expansion.
Opportunities: The popularity of veganism and vegetarian diets is rising
Parents are searching for solutions in vegetarian and vegan meals to lessen the carbon footprint of their dogs. According to recent surveys, millennials can afford to spend 20% more on pet food and treats. In the upcoming years, sustainable choices will become more popular and provide significant development prospects.
Since these creatures are treated as part of the family, their owners don't think twice about investing in high-end, luxury goods for them. The consumption of high-quality and premium items has historically exhibited the quickest rise when the sales of these products are taken into account.
Food Type Insights:
Depending on the kind of pet food, ingredients might differ somewhat. Pet feeds in cans and those in dry form often differ primarily in their moisture content. Since canned food is often manufactured from fresh animal products, it includes between 70 and 80 percent moisture, but the moisture content of dry pet food is no more than 10 percent. Meat and bone meal, animal fats, oils, and maize gluten feed are other components utilized in dry feeds. Dry meals need additional amylaceous, or starch components, proteinaceous adhesives like collagen, albumens, and casein, as well as plasticizing agents, to achieve a meat-like texture.
Manufacturing Process Insights:
The main production procedure for pet food is the same as that for processed food, with the exception of the ingredients. To remove the water, fat, and protein components from the flesh products used in pet feeds, including soft offals (viscera) and hard offals, the flesh products must first be rendered or processed. (E.g. bones and hoofs). Meat is often rendered by outside businesses and sent to pet food producers. The meat and its byproducts must be ground and cooked throughout the production process. The meat is then combined with the other ingredients, and if the recipe calls for it, the mixture is then formed into the necessary shapes. Filling containers with the final product and shipping them to distributors.
Major Key Players:
By Pet Type
By Distribution Channel
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