united states – March 16, 2022 —
Pet snacks and treats are eatables designed to meet the nutritional requirements of pets. Growing demand for proper pet food due to rising ownership of domestic animals by citizens is an indicator of the massive potential of the global pet snacks and treats market. The global pet snacks & treats market report by Market Research Future (MRFR) looks at the various production methods and new innovation in products for the period of 2018 to 2023 (forecast period). The sudden outbreak of the COVID-19 virus and its impact on the industry has been explored in detail.
Market Scope
The global pet snacks & treats market is expected to experience a surge in growth due to changing attitudes towards animals by owners. Initiatives by international organizations and pet shelters encouraging the adoption of pets can fuel the market demand significantly. Preference for healthy and organic ingredients in pet foods as well as adoption of strays by middle and upper classes can be a lucrative opportunity for the market.
The COVID-19 pandemic has led to huge shortage of pet foods caused by bulk procurement by owners. According to the World Health Organization (WHO), the risk remains of the virus being able to transfer from humans to pets leading to owners serving homemade food to companion animals. Stay-at-home orders by governments can negatively impact the global pet snacks & treats market growth.
But allergies caused by ingredients in pet mixes can impede the market growth.
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Segmentation
The global pet snacks & treats market has been segmented based on type, pet, category, and distribution channel.
By type, the global pet snacks & treats industry is divided into chewables and eatables.
On the basis of pet, the global pet snacks & treats market has been segmented into fish, dogs, cats, birds, and others.
By category, it is segmented into conventional, and organic.
By distribution channel, the global pet snacks & treats market caters to store based and non-store based channels. The store based segment is further segregated into supermarket and hypermarket, specialty stores, and others.
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Regional Analysis
The global pet snacks & treats industry has been studied with regard to four key regions—North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America can lead the market due to rise in the number of pet ownership. Focus on pet care is also likely to fuel market growth.
Europe can capture a significant market share during the assessment period owing to increasing focus on pet care. Rise in pet ownership and need for healthy ingredients in pet mix foods can fuel innovation among food manufacturers in the region. In addition, the option of ordering pet foods online from ecommerce stores is likely to work in favor of the market.
APAC can exhibit the fastest growth rate over the forecast period due to the growth of the pet care sector, change in lifestyles, and a surge in disposable income levels. Adoption of fish as pets in China is likely to favor the global pet snacks & treats market in the region. Other factors driving the China market are adoption of small mammals and the option of procuring pet foods from online delivery channels. India also holds huge potential for small mammals and a penchant for fish due to owners keeping aquariums for decorative purposes.
Competition
LUPUS Food, Diamond Pet Foods, Mars, Incorporated, The J. M. Smucker Company, Addiction Foods, Nestlé S.A., Charlee Bear Products, and Colgate-Palmolive Company are key players of the global pet snacks and treats market.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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