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The Pet Treats Market size is projected to increase by USD 9.10 billion, accelerating at a CAGR of 6.57% between 2023 and 2028.
The pet treat market segmentation includes Distribution Channel, Type, and Geography. The Distribution Channel includes offline and online segments. The offline segment holds the largest market share under the distribution channel category. The offline segment was valued at USD 10.96 billion in 2018. Offline channels offer convenience for pet owners who prefer to shop in physical stores, permitting them to see, touch, and select products in person. Such factors are driving the market growth.
The Pet Treats Market shows an Accelerate CAGR during the forecast period.
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Growing demand for organic pet foods is the key factor driving market growth. To be certified as organic, pet food must have plant ingredients and animal ingredients. Buyers are now more conscious of the ingredients in their pet food than ever before. With organic and natural food becoming the popular choice when it comes to human food, pet owners want the same for their pets. Furthermore, the adoption rate of small reptiles is less than that of small mammals; therefore, not many market players are coming up with organic food designed for small reptiles. However, it is anticipated that with the boost in the adoption of small reptiles, organic foods meant for this category will increase among pet owners in the coming years. Therefore, the rising demand for organic pet foods will drive the growth of the market during the forecast period.
Growing preference for natural and organic pet treats is the primary trend shaping market growth. Pet owners are actively pursuing pet treats produced from natural and organic ingredients. These treats are perceived as healthier options for pets, and as a result, there is a boosting demand for products that align with this preference. Pet owners are increasingly recognizing the link between nutrition and pet health. They are willing to pay a premium for pet treats that offer health benefits, and natural and organic treats are often associated with improved pet well-being.
In addition, pet specialty stores, independent retailers, and online platforms are responding to this trend by offering a wider range of natural and organic pet treat options. Brands are also expanding their product lines to include such offerings. Therefore, the growing preference for natural and organic pet treats will accelerate the growth of the global pet treats market during the forecast period.
Increasing instances of pet allergies among pet owners is a challenge that affects market growth. Infections such as cryptosporidiosis are often transmitted to humans (mainly children) through animals. Moreover, many furry and feathered animals, especially cats and birds, cause allergies in humans. Some proteins found in the spit and urine of pets (such as cats and dogs) may also induce skin allergies in people.
In addition, people with diseases such as asthma are often advised not to keep pets at home. These factors tend to limit pet adoption and negatively impact the overall sales of pet care products (including pet food). Therefore, such factors will impede the growth of the global pet treats market during the forecast period.
The number of pet owners, especially dog owners, is growing across the globe. As more people bring dogs into their homes, the demand for pet treats also increases. Pet owners increasingly view their dogs as family members and are willing to spend more on high-quality treats and pet food. This trend has led to the development of premium and gourmet dog treats. Dog treats are suitable for training, rewarding, and as a snack. The ease of use and portability of treats make them a popular choice among dog owners. Furthermore, the use of treats in dog training programs has boosted the demand for small, bite-sized treats that are easy to dispense during training sessions. Hence, such factors will drive the growth of the dog segment of the market during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. Offline distribution channels for pet treats refer to traditional brick-and-mortar retail stores. Many supermarkets and grocery stores have dedicated sections for pet products, including treats. Offline distribution channels such as pet specialty stores and veterinary clinics often foster trust among consumers due to knowledgeable staff who can provide guidance on treatment selection.
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Furthermore, offline distribution channels provide various advantages, including the ability for customers to see, touch, and select products in person. Hence, offline distribution channels remain a crucial avenue for pet owners to access a broad range of treats and receive expert advice on product selection, which will boost the growth of the global pet treats market during the forecast period.
North America is estimated to contribute 40% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Numerous pet owners treat their pets as family members and are ready to spend more on high-quality, nutritious, and gourmet treats for their furry companions. This trend toward humanization drives the growth of premium and specialty pet treats.
Furthermore, the presence and growth of pet specialty stores and boutique pet shops have provided consumers with access to a wider range of unique and premium pet treats. As pet obesity becomes a growing concern, pet owners are more inclined to seek out treats that help manage their pets' weight. Low-calorie and portion-controlled treats have gained popularity. Therefore, such factors will boost the growth of the pet treats market in North America during the forecast period.
The outbreak of COVID-19 negatively affected the pet treats market in North America in 2020. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. In addition, leading market players are focusing on alternative methods to present their products to potential customers, such as through online branding. Furthermore, events such as pet expos, pet shows, and the influence of social media pet influencers have helped raise awareness and create demand for pet treats. Thus, all these factors will propel the growth of the pet treats market in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The pet treats market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The pet treats market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Pet Treats Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.57% |
Market growth 2024-2028 |
USD 9.10 Billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.37 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 40% |
Key countries |
US, China, Germany, France, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Addiction Pet Foods, Arden Grange, Assisi Pet Care Ltd., Canine India, Colgate Palmolive Co., General Mills Inc., heristo aktiengesellschaft, Mars Inc., Nestle SA, Nulo Pet Food, Plato Pet Treats, PPN Ltd. Partnership, Primal Pet Foods Inc., Schell and Kampeter Inc., Spectrum Brands Holdings Inc., The J.M Smucker Co., Unicharm Corp., Vegeco Ltd, Wellness Pet Co. Inc., and Wiggles |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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