Authored By: Sarah
23 Aug 2024

Pet Treats Market Size to grow by USD 9.10 billion between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Pet Treats Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights

  • Market Research Overview:

The Technavio market research report classifies the global pet treats market as a subset of the broader global packaged foods and meats industry. This segment falls under the food products sector of the food, beverage, and tobacco market. The global packaged foods and meats market encompasses food processing companies that ensure food safety and prolong product shelf life. Market size is determined by aggregating the revenues of participating vendors, excluding those in the food processing equipment sector and those producing packaged alcoholic and non-alcoholic beverages, including mineral waters. - The Pet Treats Market is experiencing significant growth, fueled by the Growing demand for organic pet foods. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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  • Major Findings

    • Growing demand for organic pet foods
    • Rising consumer awareness regarding pet treats
    • Increasing instances of pet allergies among pet owners
    • Inconsistency in sourcing high-quality ingredients
  • Growth Projections

The market size is estimated to grow by USD 9.10 billion, at a CAGR of 6.57% during the forecast period. Growing preference for natural and organic pet treats | Emergence of cannabidiol-infused pet treats | Emergence of novel proteins in pet treats

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  • Regional Insights

The North American pet treats market is projected to experience substantial expansion during the forecast period. With an increasing number of North Americans adopting pets, particularly dogs and cats, as valued family members, the demand for pet treats is escalating. This humanization trend has led to a surge in the popularity of premium and specialty pet treats. Health-conscious pet owners are seeking functional, high-quality, and nutritious options for their furry companions, fueling the growth of this market segment.

Research Analysis Overview

The pet treats market has experienced a significant surge in demand due to the rising awareness of pet well-being and the increasing adoption rates of cats and dogs. Pet owners are increasingly opting for high-quality treats as premium options in their pet's diets. Mars Incorporated and other leading pet treat brands have responded to this trend by introducing a range of products, including jerky treats and freeze-dried options from Holi Bones, Cheesies, Blue Tree, Provenance Series, and ZIWI Pets. The global economic crisis has not deterred pet owners from providing the best for their pets. In fact, specialty pet foods and healthy snacks have become essential categories in the pet industry. E-commerce platforms have made it easier than ever to access these treats, with Dana Brooks and other retailers offering a wide selection of pet treats online. Pet problems have long been a concern for pet owners, and high-quality treats can help address these issues while providing pets with delicious and nutritious options. The demand for freeze-dried pet treats, in particular, has grown rapidly due to their ability to preserve the treats' natural flavors and nutrients. Overall, the pet treats market is expected to continue its growth trajectory as pet ownership becomes an increasingly important part of many people's lives.

About Technavio                                                                        

Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies. 

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Technavio Research
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Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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