According to a recent market study published by Growth Market Reports, titled, “Global Pet Treats Market by pet type, by form, by source, by distribution channel, and by Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at US$ 17,501.21 Million in 2022 and is anticipated to grow at a growth rate 8.3% by the year 2031.

Pet treats are special food items designed for animals, typically dogs, cats, or other pets, that are given to them as a reward or for training purposes. These treats are formulated to be palatable and appealing to pets, usually with flavors and textures that animals find enjoyable. Pet treats come in a variety of forms, including biscuits, chews, jerky, and more.

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Pet owners are growing increasingly concerned about the nutritional value and quality of pet treats. Natural ingredients, organic options, and treats with functional benefits, such as dental health, joint support, or skin and coat improvement, are among the market trends. With a growing emphasis on pet health and wellness, treats are being developed to benefit a pet's overall well-being. It involves including specific vitamins, minerals, and other supplements in treatment formulations.

The growing awareness of pet health and nutrition has led to an increase in demand for treats that not only taste good but also contribute to the overall well-being of pets, driving the Pet Treats market. The growth of e-commerce has a significant impact on the pet treat market. Online platforms make it easy for pet owners to browse and buy a wide variety of treats, often with the option of home delivery. The market is being influenced by an increase in interest in treats made with specialty ingredients such as superfoods, herbs, and botanicals, which are thought to have health benefits for pets.

The Global Pet Treats Market has been significantly affected by the COVID-19 outbreak. The COVID-19 pandemic has had a significant impact on the North America, Europe, and Latin & Central America Pet Treats market. Supply chain disruptions, such as challenges with ingredient procurement and production, resulted in periodic shortages and delays in product availability. Furthermore, economic uncertainty has caused some consumers to tighten their budgets, which affects their shopping behavior in terms of pet treats. Some pet owners choose less expensive options or curtail their discretionary expenditure on treats.

Key Takeaways from the Study:

  • Key players operating in the market Spectrum Brands, Inc, Mars Incorporated, Hill's Pet Nutrition, Inc., BARK, General Mills Inc, Nestle, Sunshine Mills Inc, The J.M. Smucker Company, Unicharm Corporation, and Stella & Chewy's. These companies are considered key manufacturers of Pet Treats based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.

  • Based on Pet Type, the Global Pet Treats Market is segmented into Dogs, Cats, and Others. Consumer behavior is shifting towards the emphasis on the health and well-being of canines. Dog treats represent a significant portion of the pet treats market. With a wide range of flavors and formulations, dog treats often target specific health concerns or preferences. Cat treats often focus on flavors that cats find appealing, such as fish or poultry. Some treats also address specific nutritional needs, such as hairball control. Some pet owners keep unconventional pets like turtles, amphibians, or invertebrates. While treats for these pets may be limited, there are specialized products that cater to the dietary needs and preferences of these animals.

  • On the basis of Form, the Global Pet Treats Market is segmented into Wet, and Dry. The wet segment is projected to expand in the coming years. Wet are chosen for their palatability and softer texture, making them appealing to pets, especially those with dental issues or older pets with dental sensitivity. Pet owners are increasingly inclined to provide their canine companions with goods that meet human food requirements, such as high-quality ingredients and a wide range of culinary options. Dry treats, such as biscuits, jerky, and crunchy options, have traditionally been popular choices among pet owners. They are convenient, have a longer shelf life, and are often used for training and as daily rewards.

  • In terms of Source, the Global Pet Treats Market is segmented into Plant Based, and Animal/Insect Based. Increased awareness of pet allergies and sensitivities results in the high demand for plant-based treats. Many pets are allergic or sensitive to typical animal proteins present in traditional treats. The animal/insect based segment is expected to grow rapidly. The sustainability and environmental effect of animal and insect-based proteins is fueling this segment. Public awareness about the environmental impact of traditional livestock production is growing.

  • In terms of Distribution Channel, the Global Pet Treats Market is segmented into Online, and Offline. Online platforms have a large assortment of pet treats, including specialized and specialty items that are not widely available in physical locations. This enables pet owners to explore and select treats that correspond to the individual dietary demands, taste preferences, and health issues of their pets. The offline segment is anticipated to expand at a substantial growth rate. Physical stores play an important role in helping pet owners meet the immediate requirements of their pets.

  • Based on Regions, the Global Pet Treats Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa (MEA). Demand for pet treats in the North America is expected to register significant growth in the coming years, due to the increasing emphasis on pet health and nutrition. Pet owners are becoming conscious about the quality and ingredients of the treats supplied. As a result, an increase in demand for natural, organic, and nutritionally balanced pet treats has been registered. The pet treats market in Asia Pacific is projected to register significant growth during the forecast period, as pet health and nutrition are becoming increasingly important in China, with pet owners being more picky about the quality and ingredients of the treats they provide.

Report Scope:

Report Metric

Details

Market Value in 2022

US$ 17,501.21 Million

Market Growth Rate (from 2016 to 2031)

8.3%

Historical Data

2016 - 2021

Base Year

2022

Forecast Period

2023 - 2031

Units Considered

Value (US$ Million)

Market Segments

By Pet Type, By Form, By Source, By Distribution Channel, and By Region

Key Companies Profiled

Spectrum Brands, Inc, Mars Incorporated, Hill's Pet Nutrition, Inc., BARK, General Mills Inc, Nestle, Sunshine Mills Inc, The J.M. Smucker Company, Unicharm Corporation, and Stella & Chewy's

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.


Target Audience:

  • Supply-side: Manufacturer, Distributors, and Supplier.

  • Demand Side: Retail Industry, Pet Treat/Food Manufacturers, E-commerce Platforms, Clinics and Pet Healthcare Providers