The global Plant-Based Pet Food market is expected to reach a valuation of USD 26.9 billion by the year 2024, accelerating with a CAGR of 7.8% by 2024 to 2034.
The industry is expanding significantly due to different factors. This growth is supported by the vegan movement, anthropomorphism of pets, and increasing number of vegan pet owners who opt for a vegetarian diet for their pets.
They seek to make sure that they live up to their ethical beliefs in terms of what their pets eat thereby not using any animal based raw materials which might mean that no animals have been injured or maltreated during their production. People have become more health conscious than ever after the Covid-19 pandemic turning to organic and natural diets because of the health benefits associated with them. Even when it comes to feeding their pets, this trend has taken hold.
The demand for plant-based pet food is propelled by various factors contributing to its popularity and adoption across different regions. Consumers are seeking organic, high-quality alternatives to traditional meat-based pet food, driven by concerns over pet health and nutrition. Plant-based diets are perceived to address issues such as allergies, skin conditions, weight management, and oral health, further boosting their appeal among pet owners.
Notably, the transition towards plant-based diets is not limited to human consumption but extends to pets as well. With a growing number of vegan pet owners seeking to align their values with their pets’ diets, the market for plant-based pet food continues to expand rapidly. Additionally, innovations in cultivation methods and ingredient technology are driving product development, offering new solutions to meet evolving consumer preferences.
Key Industry Highlights
Meeting Expectations for Pet Owners and Pets is Impacting the Market
What significantly influences the market are pet owners whose concern is to have high quality and nutritional balanced food for their pets. Wheat and soy are a cheap source of vegetable protein; nonetheless, the desire for grain-free alternatives mostly in North America has been a major challenge to products.
Pea proteins are helping to bridge this gap. Due to its versatility as well as compatibility with most processes involved in manufacturing of these foods, peas have become a popular source of plant protein in pet food industry.
Many times, plant-based meat substitutes can necessitate formulation changes that involve new inputs. However, this may be difficult as industry attempts to minimize ingredient label lengths.
An effective way is using kitchen friendly ingredients like vinegar, celery or cheese which could prolong freshness and shelf life while keeping ingredient lists brief. Manufacturers must partner with companies who understand what plant based ingredients are about as well as enhance how they are applied in production processes so that they are optimized for animal feed formulation purposes.
Implications of pet humanization and the recent pandemic on the plant-based pet-food market
The tendency in society to humanize pets has developed even more, and as such, at least 95% of them are considered to be family members by their owners. The trend is supported by the rise in demand for high-end plant-based pet food that includes snacks made from vegetables only as well as vegan dog meals.
By the same token, pet owners would not mind paying extra money for premium products with an aim to boost their physical condition and mental health.
The future of the market is going to be fruitful due to the new cultivation methods of plant-based food. The pet food industry is working on nutrients for cats and dogs, healthy and shiny coats, body weight balancing, and reducing bad breath. Vegetarian and plant-based diets have recently been introduced to the pet food market, offering a possible solution to the moral dilemma faced by vegetarians and vegans who live with omnivores and carnivorous dogs.
Increasing demand for organic and high-quality ingredients has fueled the sales of plant-based pet foods. Consumption of plant-based pet food is thought to minimize allergies, skin concerns, improve bad breath, and maintain weight in pets. This enhances the demand of plant-based pet foods in multiple regions.” says a Future Market Insights analyst while discussing the future of the market.
Competitive Landscape
In order to connect with customers, manufacturers in the global industry are prioritizing enhancements to their online visibility and increasing investments in research and development. Multinational companies within the industry are also concentrating on expanding their manufacturing capabilities and acquiring local firms to broaden their product offerings.
Technological advancements aimed at enhancing product development, coupled with the growing expenditure in emerging countries, are expected to significantly bolster the comers during the projected timeframe. This presents substantial opportunities for manufacturers in the sector, prompting them to expand their operations to capitalize on this growing demand.
For Instance
- PawCo Food Inc launched new plant-based food brands LuxBites, and InstaBites for dogs, in March 2024. According to the company, the new green meat is a very shelf-stable meal and a low-cost substitute to kibbles.
- In Sept. 2023 Omni, a company from the UK introduced a new vegan meat food options for dogs in the Western European market to expand its international presence.
Leading Companies
- Benevo
- Wysong
- Evanger’s Dog & Cat Food
- Nature’s Recipe
- My Aistra
- Evolution Diet
- Cannapple
- Eco Dog And Cats
- Nature’s diet
- Dr.goodpet
Key Segments of Market Report
By Product Type:
Plant-Based Pet Food industry is segmented as Kibble/Dry (Extruded, Baked, Coated), Dehydrated Food, Treats and Chews (Pastes, Creames/Cream Snacks, Crunchy Snacks, Chew Sticks, Tablets, Biscuits) Freeze-Dried Raw, Wet Food, Frozen, Powder and Freeze-Dried Food
By Pet Type:
As per pet type, the industry has been categorized Cat (Kitten, Senior), Dog (Puppy, Adult, Senior), Birds, and Others (Rabbits, Hamsters, etc.)
By Sales Channel:
Sales Channel further includes Store-based Retailing (Hypermarkets/Supermarkets, Convenience Stores, Mom and Pop Stores, Pet Stores, Discounters, Independent Grocery Retailers, Drugstores, Other Retail Formats) and Online Retailers
By Region:
Industry analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa
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