The pet treats and chews market is estimated to be valued at USD 9 billion in 2023 and is expected to reach USD 15 billion by 2033. The adoption of pet treats and chews is likely to advance at a CAGR of 5.2% during the forecast period.
The trend of humanization, where pets are considered integral members of the family, is a significant driver for the pet treats and chews market. Pet owners are increasingly seeking treats that mirror their own dietary preferences, including organic, natural, and gourmet options.
Pet owners are becoming more conscious of their pets' health and well-being. They are seeking treats and chews that offer functional benefits, such as dental care, joint support, or weight management. Manufacturers are responding by developing specialized products to cater to these specific needs.
Pet owners are willing to spend more on high-quality treats and chews, perceiving them as a luxury or premium indulgence for their pets. This driver has led to the emergence of upscale and gourmet treats, incorporating premium ingredients and unique flavors.
To cater to diverse customer preferences, manufacturers are continuously innovating and expanding their product offerings. This includes introducing new flavors, textures, and formats, such as jerky, dental sticks, and interactive puzzle treats. The drive for innovation and variety fuels market growth and keeps consumers engaged.
The power of social media platforms cannot be underestimated in shaping consumer behavior. Influencers and pet-centric communities on platforms like Instagram and YouTube have a significant impact on pet owners' purchasing decisions. They showcase new products, create trends, and drive consumer interest, thus influencing the demand for pet treats and chews.
The rising pet ownership rates, especially among millennials and empty nesters, are driving the demand for pet treats and chews. As more households embrace pets as companions, the market experiences a natural expansion, creating opportunities for manufacturers to cater to a larger customer base.
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 9 billion |
| Projected Market Size (2033) | USD 15 billion |
| CAGR through (2023 to 2033) | 5.2% |
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As per newly released data by Future Market Insights (FMI), the global pet treats and chews market is expected to boom in the next ten years, owing to increasing pet-adoption by millennials and growing pet-parents culture.
As more people start treating their pets as part of their family, they tend to spend more to improve the lifestyle qualities of their pets. Constant innovation and healthy number of investments into research & development of new products by the market leaders will also be a driving force in the growth of the global pet treats and chews market.
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Growing preference for health-based functional treats and chews which provide different types of health benefits for the pets is expected to create opportunities for growth in the market. Pet treats are not only considered a reward for the pet, but they also provide them with the necessary nutrients.
An emerging trend has been the increased interest in clean-labeled, less-processed treats and the use of organic ingredients in the production of the treats and chews. For instance, ‘Poochless’ brand offers organic veg treats for dogs through their ‘Goodoggy’ product line-up.
The United States is expected to hold 27% of the North America pet treats and chews market, as per FMI. The on-going trend of veganism in the country has led to a rise in the sales of plant-based treats and chews.
Vegan pet owners tend to extend their eating habits and practices to their pets, resulting in a surge in demand for plant-based treats and chews, which, despite their high price, have proven to be the fastest-growing segment in the United States market.
The Japanese culture generally indicate cats as symbols of good luck, which has historically led the Japanese population to adopt more cats and treat them with utmost care.
The emergence of dry cat treats with medicinal benefits such as ‘Wellness Kittles’, along with the recent surge in cat adoption in Japan will augment growth.
Sales of pet treats and chews in Germany are expected to grow by a CAGR of 3.3% over the forecast period. Growth will mainly be led by cat treats, which will outpace dog treat sales. Key market players are also looking to expand their cat treats and chews product line-up to cater to this growth in demand.
The increasing concerns of pet-parents regarding the dental health of their pets, has given rise to the sales of pet dental chews products across the globe. Rising concerns about dental diseases and bad breath problems in pets have bolstered the sales of multifunctional dental chews which provide the pets with health-benefits, along with a clean and pleasant-smelling mouth. Sales in this segment are anticipated to hold 29% of the total market share over the forecast period.
The overall pet treats and chews market is dominated by the dog treats and chews segment. This is due to a number of causes, including historically greater dog adoption rates, key market participants focusing more on dog-related products, and other varied circumstances. Functional treats for dogs are highly used by dog adopting families, as dogs are mostly trained to perform basic task by incentivizing them with such treats.
The preferred sales channel for pet treats and chews has been the modern trade (hypermarket/supermarket), accounting for a 23% share of the overall sales. According to studies, pet treats and chews are products that are mostly bought as impulse purchase. Primarily people tend to buy them while shopping for other groceries, thus product placement on supermarket shelves is a necessary factor to consider.
The competitive landscape of the pet treats and chews market is characterized by the presence of several key players vying for market share. Companies such as Mars Petcare Inc., Nestlé Purina PetCare, The J.M. Smucker Company, and General Mills, Inc. dominate the market with their wide range of product offerings and strong brand presence.
These players invest in research and development to introduce innovative treats and chews, expand their distribution networks, and engage in strategic acquisitions to strengthen their market position. Competition is driven by factors such as product quality, pricing, packaging, and marketing initiatives. With the market experiencing growth and evolving consumer preferences, the competitive landscape is dynamic, requiring companies to constantly innovate and differentiate themselves to stay ahead in this highly competitive industry.
Strategies for Pet Treats and Chews Manufacturers to Expand in the Market
Product Portfolio:
| Attribute | Details |
|---|---|
| Market Value in 2023 | USD 9 billion |
| Market Value in 2033 | USD 15 billion |
| Growth Rate | CAGR of 5.2% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product Types, Pet Type, Ingredient Type, Price Range, Sales Channel, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East & Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, China, Japan, South Korea, India, Bangladesh, Australia, New Zealand, GCC countries, South Africa, Israel |
| Key Companies Profiled | Mars Pet, Inc; Nestlé Purina PetCare; The J.M. Smucker Co.; Hill's Pet Nutrition, Inc.; General Mills, Inc.; Diamond Pet Foods; Spectrum Brands/United Pet Group; Mammoth Pet; Fluff and Tuff Inc.; Central Garden and Pet Co; ZippyPaws'; PetMate; KONG Company; Eurocan Pet Products; Cadet Pet, Inc.; Presidio Natural Pet Co; Wellness P |
| Customization & Pricing | Available Upon Request |
The market is valued at USD 9 billion in 2023.
The market is anticipated to secure a valuation of USD 15 billion by 2033.
The trend of humanization, where pets are considered integral family members, is a significant driver for the pet treats and chews market.
The North American market is expected to hold a global market share of 27%.
The preferred sales channel for pet treats and chews is hypermarket or supermarket, accounting for a 23% share of the overall sales.
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Pet Treats and Chews Market
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