PUBLISHER: KBV Research | PRODUCT CODE: 1102150
PUBLISHER: KBV Research | PRODUCT CODE: 1102150
The Global Pet Snacks And Treats Market size is expected to reach $9.8 billion by 2028, rising at a market growth of 5.4% CAGR during the forecast period.
Every pet parent has experienced a circumstance in which their dog's stomach has become upset, and they can relate to the fact that it is not pleasant. Digestion issues can be caused by a variety of things, but among the most prevalent causes is their diet and snacks. High-fat dog treats, for instance, can create gastrointestinal problems by thickening a dog's stool and making it much harder to pass. Healthier snacks for dogs with sensitive stomachs are recommended since they include nutrients that are designed to be easily digestible. Natural fibers like psyllium husk fiber, beet pulp, and other fibrous additives can assist keep a dog's gut healthy and protect them from feeling bloated.
Many dog treats include fake and poor ingredients derived from animals injected with antibiotics & hormones earlier. Hormones are supplied to pets from a young age to aid muscle growth and development, whereas antibiotics provide disease protection. If parents continue to feed their pets such goodies, they may develop resistance to antibiotics, and eating hormones can cause hyperactivity, which is often the cause of a variety of health problems. Organic dog treats, are free of hormones & antibiotics, making them a better option for pet parents who want the best for their pets.
Even whether they are of healthy body weight or a little heavier, dogs enjoy chewing. Cutting down on treats to keep the dog in shape can be a challenge for the beloved friend. In such instances, all-natural dog treats are always a wonderful choice because they contain fewer calories than other types of pet treats. Organic dog dental chews are higher in nutrients and have fewer fatty components. Because it is free of additives and fillers, the dog will be happy with fewer treats. At the same time, parents can keep their pet's weight under control without needing to deprive them of their favorite treats.
Supply chain disruptions were shown in the market during the early stages of the pandemic. Due to a shortage of raw supplies, employees, and transportation restrictions, these disruptions occurred. But, owing to the easiness of lockdown, operations returned to normal. Also, increased pet adoption, a growing market for luxury pet food, and changes in pet food producer strategy have all boosted pet food sales. During the 2020 lockdown, pet parents start stocking up on pet food, causing a short-term spike in sales. Pet food & treat sales in the U.S. climbed by 9.7% in 2020, as per the American Pet Products Associations (APPA). In mid-March, Blue Buffalo, a pet food company founded by General Mills, reported a jump in sales. During the recovery period, the demand and growth of the pet snacks and treats market would surge in the coming years.
Market Growth Factors
The Humanization of Pets is a growing trend and rising pet ownership
Pet humanization has become a buzzword in the mainstream media around the world in recent years. The transition from pet ownership to pet parenting has been a key and defining development in the pet food industry, particularly in developed nations. In wealthy countries, more than one-third of families have a pet. As a result, as pets become more humanized, the pet snacks and treats market is expected to grow. As a result of the pet humanization movement, pets have now become members of the family. The growing relationship between pet owners and their pets influences consumers' willingness to spend more on pet food.
Launch of innovative product by the pet food manufacturers
The key market players are concentrating their efforts on the introduction of a wide range of pet food products to cater to the needs of a wide range of animals of varying ages. Luxury food items have been developed in recent years by companies such as J.M. Smucker, Nestle, and Mars Inc. to draw consumers' attention and suit the growing needs of dogs. Along with that, companies are making different combinations of snacks to attract more pet parents To make better use of the planet's resources, Nestle Purina, for instance, released pet animal food based on alternative proteins in November 2020. Insects and plant protein sources such as fava beans and millet are among the possibilities.
Market Restraining Factors
Strict rules attached to pet food products
Pet snacks and treats are among the most tightly regulated food categories, particularly in western markets. Pet animal foods are rigorously inspected in developed markets at each and every stage, from the ingredients used in food preparation to sales and marketing. The high level of rigor associated with commercialization could be a key stumbling block to the market's expansion. Furthermore, in some developing economies, the reduced acceptability of premium or high-priced pet snacks and treats might be a barrier to market growth. As per the Federal Food, Drug, and Cosmetic Act of 1938, animal food must be safe to eat and produced in sanitary conditions (FFDCA). There must be no harmful components in the foods, and they must be labeled as properly as possible.
Based on Product, the market is segmented into Eatable and Chewable. The eatable segment procured the highest revenue share in the pet snacks and treats market in 2021. Natural treats of high-quality aid digestion, immunity, disease prevention, vitality, and exercise, and make a substantial contribution to the consumer's entire purchasing decision. Treats also play an important role in the creation of a bond between pet parents and their animals.
Distribution Channel Outlook
Based on Distribution Channel, the market is segmented into E-commerce, Supermarkets & Hypermarkets, and Specialized Pet Shops. The Supermarkets & Hypermarkets segment procured a significant revenue share in the pet snacks and treats market in 2021. It is due to the fact that consumers get one stop solution for everything they want. Along with that, these stores enable consumers to buy products for themselves as well as their pets at the same time and with great offers.
Animal Type Outlook
Based on Animal Type, the market is segmented into Dog, Cat, and Others. The dog segment garnered the maximum revenue share in the pet snacks and treats market in 2021. This can be ascribed to their camaraderie and loyalty. A dog can bring comfort, lower blood pressure, breathing rate, pulse rate, and muscle tension, among other things. In the market, pet food manufacturers are also providing individualized foods from the customer's perspective, which is a new trend.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific emerged as the leading region in the pet snacks and treats market with the largest revenue share in 2021. Developing economies like China and India, as well as developed countries like Japan, are driving the regional market forward. One of the elements driving the industry's rapid expansion in the Asia Pacific is urbanization. In contrast to typical pet diets, organic, healthy, and nutritional pet food has been in high demand in the region.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Archer Daniels Midland Company, Mars, Inc., Nestle S.A. , Unicharm Corporation, The Colgate-Palmolive Company, General Mills, Inc., The Wellness Pet Company, Spectrum Brands Holdings, Inc., and The J. M. Smucker Co.
Strategies Deployed in Pet Snacks and Treats Market
May-2022: Hill's Pet Nutrition, a brand of Colgate-Palmolive Company, took over the manufacturing facility of Nutriamo, an Italy-based canned pet food manufacturer. The acquisition aimed to assist Hill's to establish the first canned pet food facility in Europe. This acquisition was a key step in the global supply chain strategy to continue fulfilling the rising demand by pet parents for science-based nutrition.
Mar-2022: Hill's Pet Nutrition, a brand of Colgate-Palmolive Company, unveiled its breakthrough Weight Management & Active Mobility pet food, a nutritional solution. This solution is clinically proven to assist dogs to reach & manage a healthy weight, with more mobility support. This latest portfolio comprises four SKUs to consider for small and mini, medium, and large dogs and would offer comprehensive and balanced nutrition, formulated with years of cutting-edge research to be a great-tasting meal.
Mar-2022: Wellness Pet Company launch Good Dog by Wellness, a brand of all-natural treats for dogs. The Good Dog by Wellness portfolio would enable pet parents to select from a range of options to target certain health and training requirements such as motivating good behavior from a new puppy or supporting the full body health of dogs of all ages.
Nov-2021: Hill's Pet Nutrition, a brand of Colgate-Palmolive Company, came into a partnership with Bond Pet Foods, the Boulder-based leader in creating meat proteins via fermentation for pet food applications. This partnership aimed to make a substitute for one of Hill's most popular meat proteins, made especially to acknowledge the dietary requirements of cats and dogs.
Jun-2021: Mars Petcare India unveiled wet cat food under its Whiskas brand, which would expand the range in the country. These wet food variants are manufactured by keeping in mind a cat's nutritional needs and to gain attention from these fussy eaters.
Mar-2021: Hill's Pet Nutrition, a brand of Colgate-Palmolive Company, introduced its latest 'Prescription Diet Derm Complete' food, the world's first nutritional solution. This product is clinically proven to overcome both food and environmental sensitivities in dogs. In addition, the product is formulated with optimal levels of major nutrients to assist in supporting the skin's natural barrier against the environmental allergen.
Nov-2020: Nestle Purina unveiled pet food that is developed on alternative proteins to make better usage of the planet's resources. The new range comprises insects and also plant protein from fava beans and millet. In addition, the latest pet food is manufactured taking into consideration the various nutritional needs of cats and dogs.
Mar-2020: Spectrum Brands Pet acquired Omega Sea, a leader, and innovator in the pet industry. Under this acquisition, Omega Sea would join Spectrum Brands Global Pet Care's top consumer & commercial aquatics lines, comprising Tetra aquarium nutrition, water care, and filtration products; Marineland aquarium filtration products, kits, tanks, and lighting; GloFish fluorescent fish and accessories; and Instant Ocean sea salt.
Market Segments covered in the Report:
By Distribution Channel
By Animal Type
Unique Offerings from KBV Research
List of Figures