Pet Treat Market Is Set to Witness Rise at a CAGR of 5.7% Over the Period and Top a Valuation of US$ 122.1 Billion by 2032

The global pet treat market is set to witness growth at a CAGR of 5.7% over the forecast period and top a valuation of US$ 122.1 Bn by 2032. Pet treat are a type of dietary supplements given to dogs and cats for snacking. As pets get bored quickly and very easily, to keep them engaged, active, and entertained, pet owners choose to treat them with pet treats.

Pet owners nowadays have become more cautious than before about what their pets are eating. Hence, they are becoming more aware of the ingredients used in pet treats. In response to this, manufacturers are launching organic pet treats in the market.

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Furthermore, using graphics on the packaging may be lucrative to show pet food ingredients present in the pet treat item as well as the ingredients that are not present in them. Thus, providing nutritional information for pet treat on the product may improve sales.

"Increasing demand for organic ingredients in pet treats, along with high preference for chewable and vegetarian pet treats for puppies and kittens is expected to fuel sales in the market over the assessment period," says an FMI analyst.

Key Takeaways:

Demand for pet treats grew at a 5.1% CAGR between 2017 and 2021.
Sales of pet treats for puppies are expected to gain traction at a considerable pace.
The U.S. will dominate the North America pet treats market over the assessment period owing to high demand for organic pet treats.
Rising pet adoption in Germany will place it as a lucrative pocket in the Europe pet treat market.
Growing emphasis on multi-protein diets for pets will drive the New Zealand pet treats market.
Competitive Landscape

Purina PetCare (Nestle), Pedigree® (Mars, Incorporated), Hill's Pet Nutrition, Inc. (Colgate Palmolive Company), Diamond Naturals (Schell & Kampeter, Inc.), and The J.M. Smucker Company are some of the leading pet treat manufacturers.

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Key pet treat brands are investing in strategic partnerships, while other brands are focusing on developing a wide range of organic and meat-free pet treats. For instance:

In 2020, the US-based pet food and treat company Scout & Zoe's announced to launch its new product line, named as Super Fly for dogs, which includes a whole-larvae treat and it is their first insect-based product, which is a dry larvae and powdered meal topper, and the jerky treat is based on some dried black soldier fly larvae.
Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global pet treat market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on pet type (dog, cat, and others), pet life-stage (adult, kitten/ puppy, and others), product type (granules & flakes, chunks & nuggets, sticks & wafers, kibbles & pellets, shredded & sliced, and others), packaging type (raw, powdered, dry & dehydrated, liquid & gravy, canned, frozen & freeze-dried, and others), flavor (unflavoured and flavoured), and sales channel (hypermarkets /supermarkets, convenience stores, discount stores, online retail, and others retail formats), across seven major regions of the world.

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About Food & Beverage Division at Future Market Insights

The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.

Explore FMI's Other Extensive Reports of Food & Beverage :

Frozen Pet Food Market : https://www.futuremarketinsights.com/reports/frozen-pet-food-market

Pet Treats and Chews Market :
https://www.futuremarketinsights.com/reports/pet-treats-and-chews-market

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This release was published on openPR.