Pet Snacks & Treats Market Outlook
The Pet Snacks & Treats Market is projected to attain a substantial size, reaching an estimated USD 101.3 billion by 2030, with a forecasted Compound Annual Growth Rate (CAGR) of 5.65% during the period from 2022 to 2030.
Pet snacks & treats encompass pet food products designed as healthy snacks or expressions of appreciation for pets. Across the globe, pet owners are increasingly investing in high-quality and nutritious pet food products. Seizing this opportunity, pet treat manufacturers are introducing new snacks and treats made from fresh ingredients such as tomatoes, carrots, spinach, and sweet potatoes. An illustrative example is Pet Tao LLC, offering food therapy Harmony treats and functional supplements for both cats and dogs.
Segmented by type, the global pet snacks & treats market distinguishes between chewable and eatable products. The eatable segment dominated the market share in 2021 and is poised for higher growth during the forecast period, owing to the abundant availability of eatable snacks and treats in the market. Eatables are accessible as both snacks and treats, while chewables are primarily targeted as pet treats.
Categorizing by pet type, the global market considers dogs, cats, birds, fish, and others. Dogs are expected to dominate the market during the assessment period, as they represent a significant share of pets owned globally. The preference for dogs is underscored by a survey from the American Pet Products Association, revealing that 48% of the US population owns a dog. The dogs segment is anticipated to grow at the fastest CAGR during the forecast period.
The market's category classification includes conventional and organic products. The conventional segment is anticipated to lead due to the widespread availability of pet snacks & treats made from conventional ingredients. Nevertheless, the organic segment is expected to grow rapidly, driven by the increasing preference for organic and natural products among pet owners, particularly in developed markets.
Distribution channels are categorized as store-based and non-store-based. The store-based segment is expected to hold a significant share, driven by the higher penetration of products in brick-and-mortar stores. Conversely, the non-store-based segment is projected to experience a higher CAGR due to the rising trend of online shopping, especially among the working population.
In terms of regional analysis, North America is anticipated to dominate the global pet snacks & treats market, with major market players located in the region. The strong pet-human bond and the inclination to pamper pets with healthy and tasty snacks contribute to robust sales. Meanwhile, Asia-Pacific is expected to exhibit the highest CAGR, attributed to rising disposable incomes enabling consumers to invest in premium-quality and nutritious snacks and treats for their pets.
Key players in the global pet snacks & treats market include Mars, Incorporated, Nestlé S.A., Colgate-Palmolive Company, The J. M. Smucker Company, LUPUS Food, Diamond Pet Foods, Charlee Bear Products, and Addiction Foods.
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