Pet Treats Market size is set to grow by USD 9.10 billion from 2024-2028, Growing demand for organic pet foods to boost the market growth, Technavio

NEW YORK, June 3, 2024 /PRNewswire/ -- The global pet treats market size is estimated to grow by USD 9.10 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.57%  during the forecast period. 

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Key Market Trends Fueling Growth

The pet treats market is experiencing significant growth due to pet owners' increasing preference for natural and organic options. Transparency in labeling is crucial, with a focus on recognizable, natural components. Manufacturers are meeting this demand by providing clear labels and formulating treats with fewer fillers and allergens.

The humanization of pets and the association of natural treats with improved pet health are key drivers. Pet specialty stores, retailers, and online platforms are expanding their offerings to cater to this trend. Brands are also broadening their product lines to include natural and organic treats, fueling market growth. 

The Pet Treats market is experiencing significant growth with various trends shaping its landscape. Dogs and cats are the primary focus of this industry. Treats made from freeze-dried and dehydrated ingredients are popular choices. Premium and organic options are in demand, with many pet owners seeking natural and additive-free products.

Dogs and cats of all ages and breeds require treats for training, reward, and health purposes. Ratings and reviews play a crucial role in consumer decision-making. The convenience of online shopping and subscription services also contributes to the market's growth.

Additionally, the trend towards personalized and customized treats is gaining traction. Overall, the Pet Treats market is a thriving sector, catering to the increasing demand for high-quality, healthy, and convenient options for our beloved pets. 

Market Challenges

•         The global pet treats market faces challenges due to health concerns related to pet adoption. Harmful bacteria like Campylobacter jejuni carried by animals can cause diseases in humans, particularly children. Allergies to pets, including cats and dogs, are a significant issue, affecting up to 30% of asthma and allergic rhinitis cases.

•         People with weakened immune systems or existing health conditions, such as asthma, are advised against pet ownership. These factors limit pet adoption and negatively impact sales of pet care products, including pet treats.

•         The pet treats market faces several challenges. Production costs for certain ingredients, such as chicken, chews, and canned treats, continue to rise. Sourcing sustainable and ethical ingredients is also a concern. Segmentation of the market based on product type, such as dry, wet, and chews, presents challenges in catering to diverse consumer preferences.

•         Competition from various players, including e-commerce platforms and local pet stores, intensifies the market landscape. Additionally, ensuring product safety and compliance with regulations is essential to maintain consumer trust. Innovation in product offerings, such as grain-free and organic options, is necessary to meet evolving consumer demands. Overall, the pet treats market requires a strategic approach to address these challenges and maintain growth.

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Segment Overview 

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Type 
• 2.1 Dog
• 2.2 Cat
• 2.3 Others
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Offline-  Pet treats are widely accessible through offline distribution channels, including independent pet stores, supermarkets, pet specialty stores, veterinary clinics, pet boutiques, and convenience stores. These channels provide consumers with the opportunity to physically examine and select treats, fostering trust and expert advice. Independent stores offer unique or specialized treats, while larger retailers carry popular brands. Pet specialty stores and clinics cater to premium and artisanal treat seekers. Offline channels' convenience and personalized service contribute to the global pet treats market's growth.

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Research Analysis

The pet treats market has experienced significant growth in recent years, driven by increasing pet ownerships worldwide and rising awareness of the well-being of pets. Pet owners seek out healthy snack options for their dogs and cats, leading to the demand for specialty pet foods and premium options. The global economic crisis has not deterred this trend, as pet adoption rates continue to rise.

Pet treat brands offer a variety of products, including freeze-dried and jerky treats, to cater to the diverse needs of pets. The pet industry's focus on high-quality treats reflects the importance of providing pets with nutritious and delicious options. The market for pet treats is vast and varied, with offerings ranging from basic snacks to gourmet, freeze-dried pet treats from brands like ZIWI Pets, Blue Tree, Cheesies, Holi Bones, and others.

The Pet Treats Market encompasses a wide range of edible products designed for various species of pets, including dogs, cats, birds, and reptiles. These treats serve multiple purposes, such as rewarding good behavior, promoting dental health, and providing essential nutrients. Pet owners prioritize high-quality, natural, and organic ingredients, driving the market's growth. Segments include dry, semi-moist, and raw treats, with innovative offerings like jerky strips, dental chews, and functional treats gaining popularity.

The market caters to diverse preferences, including grain-free, gluten-free, and allergy-friendly options. Sustainability and ethical sourcing are also key considerations for many consumers. The Pet Treats Market is expected to continue expanding due to the increasing pet humanization trend and the growing number of pet parents worldwide.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• Type
• Dog
• Cat
• Others
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio