The global Pet Treat Industry is estimated to be worth USD 8,350.5 million in 2024 and is projected to reach a value of USD 14,231 million by 2034, expanding at a CAGR of 5.5% over the assessment period of 2024 to 2034.
Increasing awareness among pet owners about their pet’s health and wellness, driving demand for high-quality and nutritious pet treats.
| Attributes | Details |
|---|---|
| Market Value for 2024 | USD 8,350.5 million |
| Projected Market Value for 2034 | USD 14,231 million |
| Value-based CAGR of Market for 2024 to 2034 | 5.50% |
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| Drivers |
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|---|---|
| Restraints |
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Dogs are expected to account for 45% of the market share by pet type in 2024. Factors driving the growth of the market are:
| Attributes | Details |
|---|---|
| Pet type | Dog |
| Market Share (2024) | 45% |
The market is expanding rapidly, with adult pet life stages accounting for 45% of the market share in 2024. Factors driving growth include increasing pet owner awareness about pet health.
| Attributes | Details |
|---|---|
| Pet life | Adult |
| Market Share (2024) | 39% |
| Countries | CAGR (2024 to 2034) |
|---|---|
| United State | 4.8% |
| India | 7.1% |
| Germany | 4.3% |
| Australia | 5.5% |
| China | 6.4% |
The sector for Pet Treat in the United States is projected to exhibit a CAGR of 4.8% during the assessment period. The market’s expansion trends towards high-quality products, a concentration on dog-related items, and a focus on health and wellness.
Manufacturers are developing products with innovations, using natural components and eco-friendly packaging to fulfill health standards. By investing in the research and development and innovation of products, these manufacturers are maintaining a competitive edge and meeting the demands of pet owners.
India’s pet market is expected to grow significantly, with a CAGR of 7.1%, influenced by the increasing urbanization, and pet ownership. In the Indian market the growing number of small families, people moving towards city life, and people’s love to own pets are the prominent factors driving the significant demand for pet treats.
People in India prefer high-quality products for their pets, the humanization and the growing number of cat owners, and the popularity of e-commerce platforms are driving the online sales of the pet treats market.
Pet treats demand in the German market is estimated to rise at a CAGR of 4.3% during the forecast period (2024 to 2034). Cat treats dominate the pet treats market in Germany. Premium quality cat treats and innovation in dog food are driving sales growth. Manufacturers are investing in development and innovation to deliver a wide variety of pet treat products.
Consumption of Pet Treats in Australia is projected to increase at a value CAGR of 5.5% over the next ten years. There is a strong market for premium and high-quality pet food in Australia. Manufacturers offer premium and a wide variety of pet food solutions. Australian pet owners are seeking high-quality and nutritious food with health benefits are the factors that are driving the market growth for the pet treats industry.
China's pet snack industry is experiencing steady growth, registering a CAGR of 6.4% in 2024. Brands invest in consumer education, innovation, and pet food dominance to attract investors. Offering diverse ranges and focusing on sustainable growth can attract more investors, while educating consumers about product benefits can increase sales. Pet food dominates the market in China, showcasing the importance of these strategies.
The pet treat market, driven by increasing spending from pet owners, is a competitive sector with steady growth, segmented by treat type and distribution channels such as online, specialty stores, and supermarkets.
The market is dominated by key players like Tyson Foods, Merrick Pet Care, Saturn Petcare Group, Wellness Pet Company, and Natural Treats. These companies offer a diverse range of treats for pets and focus on product innovation, marketing, and distribution to remain competitive in the market. Their presence and diverse offerings cater to the diverse needs of pet owners.
Recent Developments
The market is estimated to be USD 8,350.5 million in 2024.
The market is expected to increase at a CAGR of 5.50% over the forecast period.
The market is expected to register a CAGR of 6.4% in China from 2024 to 2034.
The market is forecasted to reach a size of USD 14,231 million by 2034.
Purina PetCare (Nestle), Pedigree® (Mars, Incorporated), Hill's Pet Nutrition, Inc. (Colgate Palmolive Company), Diamond Naturals (Schell & Kampeter, Inc.), and Others
Dog is the leading type of pet in the market.
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Pet Treat Market
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