Pet Snacks And Treats Market Growth & Trends
The global pet snacks and treats market size is expected to reach USD 89.51 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 11.7% from 2022 to 2030. The rise in pet humanization has led to consumers spending significantly on pet snacks and treats to keep them active, healthy, and happy. Pet owners are increasingly moving from high-quality pet snacks & treats to humanized pet food options that address health concerns and contain no unnatural preservatives or genetically modified ingredients.
According to the 2021–2022 National Pet Owners Survey by the American Pet Products Association (APPA), an estimated total of 85 million families in the U.S., amounting to up to 68% of households, own some kind of a pet. This trend correlates with the growth of certain pet food segments, including healthy treats, specialty pet foods, snacks, and other premium options.
The eatables segment accounted for a significant share of the global revenue in 2021 and is expected to maintain dominance during the forecast period. The rising awareness about pet food and treats with functional benefits such as support for joints, skin, and coat health would integrate well with the growth of this segment. Increased production of cultured meat to suffice clean meat/treats for pet animals would also influence segment growth.
The dogs segment held the largest revenue share in 2021. The increasing adoption of dogs as pets across the globe would help create opportunities for key market players during the forecast period. The 2021–2022 National Pet Owners Survey conducted by the American Pet Products Association (APPA) estimates that 69.0 million households in the U.S. own a dog.
The market is consolidated in nature with the presence of a large number of international players and few regional players. Mars, Incorporated and its Affiliates; Nestlé; SCHELL & KAMPETER, INC.; The J.M. Smucker Company; Hill’s Pet Nutrition, Inc.; Addiction Foods; Wellness Pet Company; Spectrum Brands, Inc.; Unicharm Corporation; and Blue Buffalo Co., Ltd are among the prominent players in the global industry.
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Pet Snacks And Treats Market Report Highlights
North America dominated with the largest revenue share in 2021 owing to increasing pet adoption and humanization, and rising awareness regarding pet health
The chewables segment is anticipated to progress at a rapid CAGR of 13.2% during the assessment period, as an increasing number of pet owners provide their pets with chewable snacks and treats as they aid in keeping the teeth healthy
The online segment is anticipated to advance at the fastest CAGR of 13.4% in the forthcoming years owing to the availability of a dynamic range of pet snacks and treats online
List of Key Players in the Pet Snacks And Treats Market
Mars, Incorporated and its Affiliates
Nestlé
SCHELL & KAMPETER, INC.
The J.M. Smucker Company
Hill’s Pet Nutrition, Inc.
Addiction Foods
Wellness Pet Company
Spectrum Brands, Inc.
Unicharm Corporation
Blue Buffalo Co., Ltd
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