Portland, OR, Nov. 02, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global pet treats market generated $20.1 billion in 2021, and is projected to reach $29.7 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $20.1 Billion |
| Market Size in 2031 | $29.7 Billion |
| CAGR | 4.2% |
| No. of Pages in Report | 237 |
| Segments Covered | Pet Type, Form, Sales Channel, And Region |
| Drivers | Increase in the standard of living |
| Rise in importance of providing proper pet food | |
| Opportunities | Growth of the online retail platform, |
| Exponential surge in pet adoption among people |
COVID-19 Scenario:
- The outbreak of COVID-19 has had a positive impact on the growth of the global pet treats market, owing to the presence of essential restrictions as imposed by the governments of various countries around the world.
- The manufacturing of pet treats has qualified as an essential operation, according to government agencies, and many facilities have had to hire additional staff, make other operational changes, and ramp up production to respond to demand surges.
- In addition, a lot of people adopted pets like dogs and cats during the pandemic. This further boosted the sales of pet treats which significantly augmented the growth of the market.
The report offers detailed segmentation of the global pet treats market based on pet type, form, sales channel, and region.
Based on pet type, the dog segment held the largest market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The report also analyses other segments such as cats and others.
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Based on form, the conventional segment held the dominating market share in 2021, holding more than four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The organic segment, on the other hand, is expected to cite the fastest CAGR of 5.1% during the forecast period.
Based on sales channel, the offline segment held the dominating market share in 2021, holding nearly 90% of the global market, and is expected to maintain its leadership status during the forecast period. The online segment, on the other hand, is expected to cite the fastest CAGR of 6.1% during the forecast period.
Based on region, the market across North America held the dominating market share in 2021, holding around one-third of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 5.1% during the forecast period.
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The key players analyzed in the global pet treats market report include Captain Zack, Pet Munchies, Arden Grange Pet Foods, Royal Canin, The Pet Beastro, Mars Petcare Inc, The Hartz Mountain Corporation, Nestle S.A., Canine India, Hill's Pet Nutrition Inc, The Pack, V-Dog, Wild Harvest.
The report analyzes these key players in the global pet treats market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
