Increasing demand for organic ingredients in pet treats, along with high preference for chewable and vegetarian pet treats for puppies and kittens is expected to fuel sales in the market over the assessment period,” says an FMI analyst.
The global pet treat market is set to witness growth at a CAGR of 5.7% over the forecast period and top a valuation of US$ 122.1 Bn by 2032. Pet treat are a type of dietary supplements given to dogs and cats for snacking. As pets get bored quickly and very easily, to keep them engaged, active, and entertained, pet owners choose to treat them with pet treats.
Pet owners nowadays have become more cautious than before about what their pets are eating. Hence, they are becoming more aware of the ingredients used in pet treats. In response to this, manufacturers are launching organic pet treats in the market.
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Furthermore, using graphics on the packaging may be lucrative to show pet food ingredients present in the pet treat item as well as the ingredients that are not present in them. Thus, providing nutritional information for pet treat on the product may improve sales.
“Increasing demand for organic ingredients in pet treats, along with high preference for chewable and vegetarian pet treats for puppies and kittens is expected to fuel sales in the market over the assessment period,” says an FMI analyst.
Key Takeaways:
Competitive Landscape
Purina PetCare (Nestle), Pedigree® (Mars, Incorporated), Hill’s Pet Nutrition, Inc. (Colgate Palmolive Company), Diamond Naturals (Schell & Kampeter, Inc.), and The J.M. Smucker Company are some of the leading pet treat manufacturers.
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Key pet treat brands are investing in strategic partnerships, while other brands are focusing on developing a wide range of organic and meat-free pet treats. For instance:
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global pet treat market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on pet type (dog, cat, and others), pet life-stage (adult, kitten/ puppy, and others), product type (granules & flakes, chunks & nuggets, sticks & wafers, kibbles & pellets, shredded & sliced, and others), packaging type (raw, powdered, dry & dehydrated, liquid & gravy, canned, frozen & freeze-dried, and others), flavor (unflavoured and flavoured), and sales channel (hypermarkets /supermarkets, convenience stores, discount stores, online retail, and others retail formats), across seven major regions of the world.
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Nov 09, 2022