At 5.45% CAGR, Global Pet Food Treats Market Size to Surpass USD 96.7 Billion by 2028 | Industry Trends, Share & Analysis by Facts & Factors

LONDON, UK, Feb. 22, 2022 (GLOBE NEWSWIRE) — The report titled, “Pet Food Treats Market: Global Industry Outlook, Market Growth, Business Analytics, Consumer Demand, Statistics, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2021–2028 added by Facts and Factors in to their database.

“According to the latest research study, the demand of global Pet Food Treats Market size & share in 2020 was approximately USD 70 billion. The market is expected to grow above a CAGR of 5.45% and is anticipated to reach over USD 96.7 billion by 2028.”

Report Overview:

Pet foods are unique foods made from plant or animal matter. Pet food, treats, and beverages make up the market for the same. Pet treats with high-quality components are usually recommended for consumption nutrition. Treats, on the other hand, are a technique for reinforcing positive behavior in pets. Drinks are likely to be referred to as liquid consumables to quench thirst. Baked goods such as biscuits, dried vegetables or fruits, and toasted grains are common pet snacks. Jerky, tooth chews, and other treats are common.

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Key Insights & Findings from the report:

• The global pet food treats market is expected to grow above a CAGR of 5.45% by 2028.
• As per primary research, the pet food treats market was estimated to be value US$ 70 billion in 2020 and is projected to reach US$ 96.7 billion by 2028.
• The increased adoption of pets, particularly in developing nations, is one of the primary drivers driving the global pet food treats market’s growth.
• Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
• Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
• The North American market is anticipated to have the highest demand for pet treats thereby dominating the global pet treats market.

Market Growth Dynamics

The increased adoption of pets, particularly in developing nations, is one of the primary drivers driving the global pet food treats market’s growth. Pet owners are becoming more mindful of their pets’ nutritional demands as a result of their humanization, and are feeding them only high-quality, nutritional meals. This element is likely to have a substantial impact on the global pet treat market’s growth. Furthermore, as per capita wealth rises around the world, pet owners are ready to spend more on their pets’ health.

Pet treat producers all over the world are putting a lot of effort into dominating the market by releasing a varied selection of products to cater to the needs of all types of pets of various ages and nutritional requirements. Crunchy and chewy snacks are preferred by dogs, whilst wet foods are preferred by cats. Both of these animals, however, require high protein treats to meet their fundamental dietary requirements. To increase their consumer market, companies provide specific treats for other pet types, such as rabbits.

Furthermore, pet food manufacturers are also delivering individualized pet foods from the perspective of the customer, which is emerging as a new trend in the global pet food treats market. Manufacturers have also started making personalized food based on information provided by clients, such as grain or grain-free food preferences for their pets, nutritional values to be added based on the pet’s activity, and other pertinent factors. When the personally tailored blend is completed, the pet food is sent to the customer’s door, along with feeding instructions and information about the meal’s ingredients. Pet food customization is becoming more popular as e-commerce grows thereby driving the global pet treats market growth.

Various governments throughout the world have taken steps to promote the use of safe and healthy products in order to improve the general wellness of pets. Media advertising, as well as online retailing, is predicted to be a growing distribution route. All of this is projected to boost the market growth positively.

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Report Scope

Segmentation Analysis

On the basis of commodity, the Wet/Canned Food segment dominated the global market in 2019; owing to its rising demand specially form cats. On the basis of consumer, the dog segment dominated in 2019, the surge is primarily attributable to the huge popularity of dogs amongst the population present in the North American and Asian region. North America is estimated to be the world market leader owing to the high pet adoption rage and increased popularity of animals in this region.

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Regional Landscape

The North American market is expected to have the highest demand for pet treats thereby dominating the global pet treats market. There are a lot of pet owners in this region who are worried about their pets’ health and only feed them high-quality treats. The pet food treats market is growing rapidly in Europe, which has the second greatest market share in this region.

Recent Development

Phelps Pet Products, a pet treats manufacturer based in the United States, signed a licensing arrangement with The Walt Disney Company in March 2021. Through this collaboration with Disney, a line of products based on Disney and Pixar cartoon characters will be released. This themed product line will be called ‘Table ScrapsTM,’ and it will be aimed exclusively towards dogs.

Browse the full “Pet Food Treats Market – By Commodity (Snacks/Treats, Wet/Canned Food, Dry Food, Healthy Food, & Others), By Costing (Super-Premium, Premium, & Economy) and By Consumer (Cat, Dog, & Others): Global Industry Outlook, Market Growth, Business Analytics, Consumer Demand, Statistics, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2021–2028″ report at https://www.fnfresearch.com/pet-food-treats-market

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Competitive Landscape

Some of the key players operating in the global pet food treats market are Del Monte Food, Inc., Colgate-Palmolive Company, TruDog, ANI BRANDS, WellPet LLC., Mars Incorporation, GA Pet Foods Partners, SmartCookieTreats.com, Nutriara Alimentos Ltd., Diamond Pet Foods, Blue Buffalo Company Ltd., Total Alimentos SA, Nestle Purina Petcare Company, The J.M. Smucker Company, Unicharm Corporation, Plato Pet Treats, Royal Canin, Yantai China Pet Foods Co. Ltd., and other prominent players.

This report segments the Pet Food Treats market as follows:

Global Pet Food Treats Market: Commodity Segment Analysis

• Snacks/Treats
• Wet/Canned Food
• Dry Food
• Healthy Food
• Others

Global Pet Food Treats Market: Costing Segment Analysis

• Super-Premium
• Premium
• Economy

Global Pet Food Treats Market: Consumer Segment Analysis

• Cat
• Dog
• Others

Global Pet Food Treats Market: Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa

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