Rockville, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The growing interest of people in adopting dogs as a status symbol is estimated to increase the demand for dog treats. As per data provided by Fact.MR, a market research and competitive intelligence provider, the global dog treats market is forecasted to reach a value of US$ 275 billion by the end of 2033, surging ahead at a CAGR of 22.5% during the forecast period (2023 to 2033).
People are adopting dogs and other pets to tackle anxiety and loneliness. Thus, rising pet ownership is resulting in increased demand for pet treats around the world. Furthermore, individuals from middle-income groups across developing nations such as Thailand, India, etc., are willing to spend a higher amount of money on nutritious foods for their pets, which is expected to generate lucrative opportunities for dog food providers over the coming years.
Dog treats are widely used as dietary supplements, which are given to dogs to keep them engaged and active. These are also used as medicinal supplements for dogs. Dog treats generally constitute only a minor part of the routine nutrition for dogs to meet adequate nutritional standards.
The rising trend of pet humanization owing to the increasing millennial pet ownership is resulting in increasing premiumization of dog treats across the globe. In addition, the rising disposable income of people is also contributing to their increased purchasing power. Further, nutritional and safety requirements of pets are serving as significant factors stimulating the demand for dog treats.
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People are becoming aware of ingredients used in dog treats. In addition, they are also emphasizing the labeling of different dog treat products. Thus, the growing trend of pet humanization is estimated to serve as one of the pivotal factors propelling the demand for dog treats around the world over the coming 10 years.
Key Takeaways from Market Study
- Worldwide demand for dog treats is estimated to reach a market valuation of US$ 275 billion by the end of 2033.
- Global sales of dog treats are projected to surge at a CAGR of 22.5% during the forecast period (2023 to 2033).
- The global dog treats market is valued at US$ 36.1 billion in 2023.
- Demand for dog treats in Canada is anticipated to increase at a CAGR of 20.1%.
- The wet food segment is anticipated to advance at a CAGR of 4.9% from 2023 to 2033.
- Sales of dog treats in Germany are projected to expand at a CAGR of 18% from 2023 to 2033.
“Rising trend of pet humanization owing to increasing millennial pet ownership and growing purchasing power of people have resulted in premiumization of dog treats,” says a Fact.MR analyst.
Segmentation of Dog Treats Industry Research
- By Product :
- Foods
- Dry Foods
- Wet Foods
- Treats & Mixers
- Foods
- By Raw Material :
- Plant-based
- Animal-based
- By Cost :
- Premium Pet Foods
- Mass/Bulk Pet Foods
- By Distribution Channel :
- Specialized Pet Food Shops
- Supermarkets/Hypermarkets
- Online Retailers
- Others
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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| Report Attributes | Details |
| Dog Treats Market Size in 2023 | US$ 36.1 Billion |
| Forecasted Market Value (2033) | US$ 275 Billion |
| Global Market Growth Rate (2023 to 2033) | 22.5% CAGR |
| No. of Pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 227 Figures |
Competitive Landscape
Key providers of dog treats have been investing in product innovation and new developments.
For instance,
- FeedWerkz, based in Singapore, focuses on insect farming technology. In February 2022, the company announced the launch of a completely integrated pet food product range in the Singapore market, which is under the brand Conscious Creatures. This brand consists of highly sustainable, nutritious, and palatable dog treats, which are manufactured with sustainably farmed insects as key ingredients.
Key Companies Profiled
- Ani Brands
- The J. M. Smucker Company
- Spectrum Brands Holdings, Inc.
- Plato Pet Treats
- Nestle SA
- Mars, Inc.
- Grandma Lucy’s LLC
- GA Pet Food Partners
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global pet treats market for the period from 2023 to 2033.
The study divulges essential insights into the market on the basis of product (foods, treats & mixers), raw material (plant-based, animal-based), cost category (premium pet foods, mass/bulk pet foods), distribution channel (specialized pet food shops, supermarkets/hypermarkets, online retailers, others), and across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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Protein Packed Foods Market: Consumers are increasingly seeking protein packed foods to increase the nutrition in their diets. The effects of various studies support protein’s role in attacking obesity through aiding weight management. The protein packed foods market has witnessed a paradigm inclination in focus from developed regions to developing countries. Regarding the possibility of static markets in the developed countries, players have started focusing on emerging economies where changing consumer preferences and increasing disposable income were favorable factors at play.
Free from Foods Market: The free-from foods market is estimated to expand at a CAGR of nearly 6% during the forecast period of 2020 to 2030. The market is expected to experience a slight dip during 2020 in terms of sales. High stockpiling has led to substantial increase in sales during the 2nd quarter of 2020. Shutting down of production facilities and lockdowns due to the COVID-19 pandemic are expected to affect the production for free-from foods during the latter half of 2020.
Low-Fat Low-Cholesterol Foods Market: Increasing awareness of the link between diet and health for wellbeing in the consumers across the world showing inclined shifting towards the consumption of Low-fat low-cholesterol Foods. More than half of the young population consumers aged from 18 to 35 are conscious about physical fitness and long-term health so that they prefer Low-fat low-cholesterol Foods to stay fit. This elevates the demand for products across the world in this period.
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