The pet treats and chews market is anticipated to be worth US$ 9 billion in 2023, with projections indicating an increase to US$ 15 billion by 2033. Throughout the forecast period, the adoption of pet treats and chews is expected to progress at a compound annual growth rate (CAGR) of 5.2%. With the growing demand for organic and natural products, there is an opportunity for manufacturers to develop pet treats and chews made from high-quality, responsibly sourced ingredients. Providing options free from artificial additives and preservatives can attract health-conscious pet owners.
According to FMI, the United States is projected to account for 27% of the pet treats and chews market in North America. The ongoing trend of veganism in the country has resulted in increased sales of plant-based treats and chews.
Pet owners are increasingly seeking treats that offer additional health benefits, such as dental care, joint support, or stress relief. Developing functional treats that address specific pet health concerns can open up new market segments. As pet owners explore alternative diets for their pets, there is an opportunity to develop treats and chews using novel protein sources like insect-based proteins or plant-based proteins. Catering to pets with specific dietary needs or those following alternative diets can be a niche market segment.
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The rise of e-commerce and direct-to-consumer sales presents opportunities for pet treat manufacturers to reach a wider customer base. Investing in online platforms and establishing direct relationships with pet owners can bypass traditional distribution channels and create new revenue streams. Pet owners seek unique experiences for their furry companions. Offering customizable or personalized pet treats and chews, such as shape variations or tailored flavors can attract consumers looking for a special touch for their pets.
Key Takeaways from the Pet Treats and Chews Market:
- According to FMI, the United States is projected to have a 27% market share in the pet treats and chews market in North America.
- The sales of pet treats and chews in Germany are expected to experience a 3.3% CAGR during the forecast period.
- The pet dental chews segment is predicted to hold 29% of the total market share throughout the forecast period.
- The dog treats and chews segment dominates the overall pet treats and chews market.
- Modern trade, including hypermarkets and supermarkets, has been the preferred sales channel, accounting for a 23% share of total sales.
“The pet treats and chews market continues to witness steady growth, driven by increasing pet ownership, humanization of pets, and a rising demand for healthy, natural, and functional treats for furry companions”, remarks an analyst at FMI.
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How Key Players are revolutionizing the Manufacturing of Pet Treats and Chews market?
Key players in the pet treats and chews market are revolutionizing the manufacturing process to meet evolving consumer demands and enhance product quality. Advanced technologies, such as extrusion and freeze-drying, are being employed to create innovative and nutritious treats with optimal texture and flavors.
These players are incorporating natural and organic ingredients, ensuring transparency and sustainability in sourcing. There is a focus on functional treats, offering specific health benefits like dental care or joint support. Packaging and branding innovations are employed to enhance product appeal and convenience. Overall, these revolutionary efforts by key players are reshaping the pet treats and chews market, providing pet owners with a wider array of healthy, tasty, and specialized options for their beloved pets.
Key Players in the Market:
- Mars Pet, Inc
- Nestlé Purina PetCare
- The J.M. Smucker Co.
- Hill’s Pet Nutrition, Inc.
- General Mills, Inc.
- Diamond Pet Foods
- Spectrum Brands/United Pet Group
- Mammoth Pet
- Fluff and Tuff Inc.
- Central Garden and Pet Co
- ZippyPaws’
- PetMate
- KONG Company
- Eurocan Pet Products
- Cadet Pet, Inc.
- Presidio Natural Pet Co
- Wellness P
Product Portfolio:
- Mars Pet, Inc offers a comprehensive product portfolio for pets, including renowned brands such as Pedigree, Whiskas, Iams, and Royal Canin. Their portfolio encompasses a wide range of pet food, treats, and nutritional supplements, catering to the specific needs and preferences of dogs and cats.
- Nestlé Purina PetCare provides a diverse product portfolio tailored to meet the nutritional requirements and taste preferences of pets. Their portfolio includes popular brands like Purina ONE, Purina Pro Plan, Friskies, and Fancy Feast, offering a wide selection of pet food, treats, and specialized formulas for dogs and cats.
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Market Segmentation
By Product Type:
- Dental care
- Aromatic Treats
- Comfort Treats
- Training Treats
By Pet Type:
- Cats
- Dogs
By Ingredient Type:
- Plant Based
- Animal Based
By Price Range:
- Mass
- Premium
By Sales Channel:
- Pet Specialty Stores
- Drug Stores
- Modern Trade (Hypermarket/ Supermarkets)
- Online Retailers
- Convenience Stores
- Other Sales Channel
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East & Africa
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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