Pet Treats Market Size,Share,Growth,Competition,Trends,Growth Opportunities and Forecast (2024-2031)
Pet treats are created from various meat or meat-derived materials combined with additional ingredients such as potato starch, vegetables, fruits, cereal flours, fats, oils, and additives. Pet treats are tasty and nutritious extras that pet owners give to their animals to reward and comfort them. There are a great variety of products in diverse sizes, textures, appearances, and flavors in the market. Some of the factors propelling the global pet treat market forward include the expansion of pet adoption in developed nations and the humanization of pets, particularly in western countries.
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Market Dynamics
The increased adoption of pets, particularly in developing nations, is one of the primary drivers driving the market growth. Pet owners are becoming more mindful of their pets' nutritional demands due to their humanization and are feeding them only high-quality, nutritious food. This element is likely to positively impact the global pet treat market's growth. Furthermore, as per capita wealth rises worldwide, pet owners are ready to spend more on their pets' health. Additionally, pet treat producers worldwide are putting a lot of effort into dominating the market by releasing a varied selection of products to cater to the needs of all types of pets of various ages and nutritional requirements. Crunchy and chewy snacks are preferred by dogs, while cats prefer wet foods. However, both of these animals require high protein treats to meet their fundamental dietary requirements. Companies produce specific treats for other pet kinds, like rabbits, to boost their consumer market.
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Segment Analysis
The global pet treats market is divided into dogs, cats, and others. Due to the growing popularity of dogs as pets, the dog sector held the greatest market share in 2021. Breed dogs demand a great deal of attention in hygiene and health. As a result, dog owners are quite selective about what they feed their dogs, which helps to drive up demand for dog meals. Natural treats are abundant in proteins, which aid in improving a dog's immune. Furthermore, unlike some low-quality dog treats, high-quality natural dog treats are soft on the stomach and can be digested properly. All-natural pet treats can help pet's teeth and overall wellness.
Competitive Landscape
The pet treats market is fragmented. The pet treats market is competitive and comprises numerous regional and international competitors. Furthermore, while engaging the consumers with innovation and expansion strategies, key players capitalize on the market revenue. Phelps Pet Products, a pet treats manufacturer based in the United States, signed a licensing arrangement with The Walt Disney Company in March 2021. Through this collaboration with Disney, products based on Disney and Pixar cartoon characters will be released. This themed product line will be known as 'Table ScrapsTM,' It will be aimed exclusively at dogs. Jinx, a dog food and treat manufacturer based in the United States, released two new product categories in April 2021 to expand their product line. Two new meal toppers and a limited-ingredient dental chew in two sizes have been added. In this shifting lifestyle, the additions were designed with the omnivorous needs of the dogs in mind.
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