Vegan Pet Food Market by 2028 at 7.7% CAGR, COVID-19 Impact and Global Analysis
Vegan pet food is produced with plant-based and natural ingredients without having a trace of animal derived raw material and ensuring no cruelty or exploitation of animals in any sorts. The key trends in pet food market are influenced by the human food trends such as clean labels, veganism, alternative proteins, and healthier ingredients. Vegan pet owners prefer to feed vegan pet food even to their pets, which is propels the growth of global vegan pet food market.
Humanization of Pets to Bolster Market Growth
A majority of the global population considers pets as a part of their family. Dogs and cats are the most preferred pets owing to their friendly nature. More than half of the population in America adopts a dog or a cat, and a significant amount is spent on pets to ensure their wellbeing. With the growing acceptance of veganism, a vegan diet is preferred for themselves and their pets. Most pet owners opt for products that have clean labels, sustainability claims, and functional nutrition. The rising humanization of pets among the global populace increases the awareness regarding the quality and ingredients of the pet food provided by the owners, which, in turn, bolsters the growth of the vegan pet food market.
Vegan Pet Food Market: Segmental Overview
Based on product type, the market is segmented into wet food, dry food, and others. In 2020, the dry food segment held the largest share of the global vegan pet food market and is expected to register the highest CAGR during 2021–2028.
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Vegan Pet Food Market: Competition Landscape and Key Developments
Antos B.V.; Benevo; Bond Pet Foods, Inc.; V-dog; Soopa Pets; Vegan4dogs; Wild Earth; Yarrah; Isoropimene Zootrofe Georgios Tsappis Ltd.; and Halo Pets are among the key companies operating in the global vegan pet food market.
Impact of COVID-19 Pandemic on Vegan Pet Food Market
As the economies are planning to revive their operations, the demand for vegan pet food is rising. In addition, most people are now working from home, and this lifestyle change has further inspired families to welcome new pets to their families. Vegan pet owners are looking for sustainable vegan pet food for their pets. Also, there is no evidence yet that pets contribute to the spread of COVID-19; hence, families feel safe to welcome new companion animals for emotional support. In March 2020, animal shelters across the UK have seen a notable uptick in dog and cat adoption.
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Vegan Pet Food Market – by Product Type
• Dry Food
• Wet Food
Vegan Pet Food Market – by Pet Type
Vegan Pet Food Market – by Distribution Channel
• Supermarkets and Hypermarkets
• Specialty Stores
• Online Retail
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