Pet Treats and Chews Market Growth Analysis, Segmentation, Size, Share, Trend, Future Demand and Leading Players Updates by Forecast to 2033
The pet treats and chews market is projected to reach USD 9 billion in 2023, with forecasts indicating it will grow to USD 15 billion by 2033. Over this period, the adoption of pet treats and chews is expected to advance at a compound annual growth rate (CAGR) of 5.2%. As the demand for organic and natural products rises, there is a significant opportunity for manufacturers to innovate pet treats and chews using high-quality, responsibly sourced ingredients. Offering options that are free from artificial additives and preservatives can appeal to health-conscious pet owners.
The rise of e-commerce and direct-to-consumer sales presents opportunities for pet treat manufacturers to reach a wider customer base. Investing in online platforms and establishing direct relationships with pet owners can bypass traditional distribution channels and create new revenue streams. Pet owners seek unique experiences for their furry companions. Offering customizable or personalized pet treats and chews, such as shape variations or tailored flavors can attract consumers looking for a special touch for their pets.
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Key Takeaways from the Pet Treats and Chews Market:
According to FMI, the United States is projected to have a 27% market share in the pet treats and chews market in North America.
The sales of pet treats and chews in Germany are expected to experience a 3.3% CAGR during the forecast period.
The pet dental chews segment is predicted to hold 29% of the total market share throughout the forecast period.
The dog treats and chews segment dominates the overall pet treats and chews market.
Modern trade, including hypermarkets and supermarkets, has been the preferred sales channel, accounting for a 23% share of total sales.
According to FMI, the United States is projected to account for 27% of the pet treats and chews market in North America. The ongoing trend of veganism in the country has resulted in increased sales of plant-based treats and chews.
Pet owners are increasingly seeking treats that offer additional health benefits, such as dental care, joint support, or stress relief. Developing functional treats that address specific pet health concerns can open up new market segments. As pet owners explore alternative diets for their pets, there is an opportunity to develop treats and chews using novel protein sources like insect-based proteins or plant-based proteins. Catering to pets with specific dietary needs or those following alternative diets can be a niche market segment.
Key Players in the Market:
Mars Pet, Inc
Nestlé Purina PetCare
The J.M. Smucker Co.
Hill’s Pet Nutrition, Inc.
General Mills, Inc.
Diamond Pet Foods
Mammoth Pet
Fluff and Tuff Inc.
