Pet Snacks And Treats Market Size, Share & Trends Analysis Report By Product (Eatable, Chewable), By Animal (Dog, Cat), By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030

Pet Snacks And Treats Market Growth & Trends

The global pet snacks and treats market size is expected to reach USD 12.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.2% from 2022 to 2030. Individual animals or even distinct products for different stages of an animal's life are often targeted in the pet food industry. There are diets made entirely of natural items with no additives for pet owners who are more concerned about their pet's nutrition.

The Covid-19 pandemic had a major impact on the global pet food industry in 2020, resulting in a drop in global supply output. Several governments implemented limitations on product shipping across borders and within countries, forcing businesses to halt production due to a lack of raw material. Supply chain concerns were the most evident COVID-19-related challenges faced by the industry.

Consumers nowadays consider their pets to be family members, and they look for the same qualities in pet food as they do in human food. There is a vast variety of natural, healthy treats and delights available in the market. Given that most cat and dog owners consider themselves to be pet parents rather than pet owners, it shows that they feel a tremendous feeling of responsibility for their pets' well-being due to which the market is expected to expand in the coming years.

Pet Snacks And Treats Market Report Highlights

• By product, the eatable segment held the largest revenue share in 2021 and is expected to retain its position over the forecast period. The chewable segment is anticipated to expand at the highest CAGR of 5.5% in the forecast period. The growth of this segment can be ascribed to fact that it is more accessible than eatable treats and has a longer shelf life. Chewable is a popular option for pets since it is convenient and helpful to their health
• In terms of animal, the dog segment dominated the market with a revenue share of over 48.0% in 2021 and is anticipated to retain its position over the forecast period. The cat segment is expected to register the highest CAGR of 5.2% over the forecast period. The market growth of this segment can be attributed to the low maintenance of cats as they do not require any formal training, don’t need to be taken out numerous times per day, and can even do basic cleaning
• On the basis of distribution channel, the e-commerce segment held the largest revenue share in 2021 and is expected to expand at the highest CAGR over the forecast period. During the Covid-19 pandemic in 2020, pet owners purchased more online pet supplies than usual. This was attributed to the lockdowns imposed by the governments of various countries across the globe
• Asia Pacific held the largest revenue share in 2021, and the region is predicted to lead the market throughout the forecast period. The high adoption of pets in households during a pandemic and the need for companionship are factors responsible for the regional market growth