Dublin, Aug. 30, 2023 (GLOBE NEWSWIRE) — The “Global Pet Snacks and Treats Market Forecast, 2023 to 2030” the report has been added to ResearchAndMarkets.com offer.
Global Pet Snacks and Treats Market: Positive Growth Fueled by Humanization Trends
The global pet snacks and treats market is poised to reach a substantial valuation of $12.16 billion by 2030. This growth is expected to manifest itself in a commendable compound annual growth rate (CAGR) by 5.2% from 2023 to 2030.
As the humanization of pets becomes more widespread, consumers are investing heavily in pet snacks and treats to ensure the vitality, health and happiness of their four-legged friends. There is an evolutionary shift, where pet owners are moving from conventional high-quality options to humanized pet foods. These alternatives address specific health concerns and feature a clean ingredient profile free of unnatural preservatives or genetically modified components.
The American Pet Products Association’s (APPA) National Pet Ownership Survey 2021-2022 highlights this trend, revealing that approximately 85 million US households, or up to 68% of all households, own pets. This echoes the growth seen in various pet food segments, including health-conscious treats, specialty pet foods, premium snacks and other premium selections.
The edibles segment stood out with a major share of global revenue in 2021 and is poised to maintain its dominance throughout the forecast period. The growing awareness of pet foods and treats with functional benefits, such as supporting joint, skin and coat health, aligns perfectly with the expansion of this segment. Notably, increasing production of cultured meat to provide clean meat and pet treats is poised to further boost the growth of this segment.
In 2021, the dog segment accounted for the largest revenue share. The growing adoption of dogs as cherished pets across the globe is expected to create a lot of opportunities for the major market players over the forecast period. The American Pet Products Association’s 2021-2022 survey estimates that 69 million American households are proud owners of a dog.
Landscape and main actors
The market has a consolidated character, hosting a significant number of international players alongside a few regional competitors. Notable names like Mars, Incorporated (and its affiliates); Nestle; SCHELL & KAMPETER, INC.; The JM Smucker Company; Hill’s Pet Nutrition, Inc.; Foods linked to addiction; Welfare Animal Company; Brands Spectrum, Inc.; Unicharm Company; and Blue Buffalo Co., Ltd are prominent figures in the global industry.
Highlights of the Pet Snacks and Treats Market Report
- North America leads with the largest revenue share of 33.7% in 2022. This is attributed to increased pet adoption, humanization, and increased awareness of pets. pet health.
- The chewable segment is expected to make impressive progress with a rapid CAGR of 5.5% over the assessment period. More and more pet owners are opting for chewable snacks and treats, recognizing their role in promoting healthy teeth.
- The online segment is poised to accelerate at the fastest CAGR of 5.3% in the coming years, driven by the availability of a wide range of pet snacks and treats in the online domain. .
Key attributes
Report attribute | Details |
Number of pages | 122 |
Forecast period | 2022-2030 |
Estimated market value (USD) in 2022 | $8.12 billion |
Expected market value (USD) by 2030 | $12.16 billion |
Compound annual growth rate | 5.2% |
Regions covered | Global |
Key Topics Covered
Chapter 1. Methodology and scope
Chapter 2. Summary
Chapter 3. Pet Snacks and Treats Market Variables, Trends and Scope
Chapter 4. Consumer Behavior Analysis
Chapter 5. Pet Snacks and Treats Market: Product Estimates and Trend Analysis
Chapter 6. Pet Snacks and Treats Market: Pet Type Estimates and Trend Analysis
Chapter 7. Pet Snacks and Treats Market: Distribution Channel Estimates and Trend Analysis
Chapter 8. Pet Snacks and Treats Market: Regional Estimates and Trend Analysis
Chapter 9. Competitive Analysis
Companies mentioned
- Mars, Incorporated (and its affiliates)
- Nestle
- SCHELL & KAMPETER, Inc.
- The JM Smucker Company
- Hill’s Pet Nutrition, Inc.
- Addiction foods
- Pet welfare company
- Spectrum Brands, Inc.
- Unicharm Corporation
- Blue Buffalo Co. Ltd.
For more information on this report, visit https://www.researchandmarkets.com/r/crmq47
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