Pet treats and nibbles are products made specifically to reward, amuse, and enhance a pet’s diet. To accommodate the varying tastes and demands of pets, including dogs, cats, and even small animals, these treats are available in a variety of forms, including biscuits, chews, jerky, soft morsels, and dental treats. Pet snacks can help with digestion, improve the condition of the skin and coat, or promote dental health in addition to being enjoyable. Certain treats, including low-calorie ones for pets that are concerned about their nutrition or high-protein options for active canines, are made with certain health benefits in mind.
According to SPER Market Research, ‘Global Pet Snacks and Treats Market Size- By Product, By Pet Type, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Global Pet Snacks and Treats Market is estimated to reach USD 113.9 billion by 2033 with a CAGR of 12.09%.
Drivers: The market for pet treats and snacks is expanding rapidly, especially in countries with expanding middle classes like South Korea and China. A shift in attitudes toward pets, with a stronger focus on their humanization and companionship, is the cause of this rise. During 2022, the United States spent USD 136.8 billion on pets, mostly on pet food and treats. This rise in expenditure is a result of consumers’ increased focus on their pets’ wellbeing and health. As a result, manufacturers are using clean-label ingredients, extended shelf life, and environmentally friendly packaging. Natural, plant-based, sugar-free, low-calorie, organic, and natural pet foods are gaining popularity.
Restraints: The pet snack and treat sector has several challenges that could impede its growth and financial prosperity. The rising cost of raw materials is one of the main obstacles since it might increase production costs and, eventually, consumer prices. This could affect demand, especially in markets where prices are sensitive. The growing number of laws governing the safety of pet food and the sourcing of ingredients may also cause producers to struggle with compliance, requiring them to spend in quality control and certification processes.
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Impact of COVID-19 on Global Pet Snacks and Treats Market
The global market for pet snacks and treats was significantly impacted by the COVID-19 epidemic, which had a variety of effects on consumer behavior and business operations. Due to many pet owners spending more time at home during the pandemic, pet ownership increased. This, in turn, increased demand for pet supplies like snacks and treats. Pet treats were in high demand during lockdowns as individuals looked for methods to strengthen their bonds with their animals, particularly those that provided health advantages like immunological or dental assistance. Additionally, as customers switched from in-person to online purchasing, sales of pet snacks and treats increased significantly.
Global Pet Snacks and Treats Market Key Players:
Additionally, some of the market key players are, Colgate Palmolive Company, General Mills Inc., Mars, Incorporated, Merrick Pet Care, Nestlé S.A.
Global Pet Snacks and Treats Market Segmentation:
By Product: Based on the Product, Global Pet Snacks and Treats Market is segmented as; Eatable, Chewable.
By Type: Based on the Type, Global Pet Snacks and Treats Market is as: Dogs, Cats, Others.
By Distribution Channel: Based on the Distribution Channel, Global Pet Snacks and Treats Market is as: Supermarkets & Hypermarkets, Pet Specialty Stores, Online, Others.
By Region: This research also include data for North America, Europe, Asia-Pacific Middle East & Africa and South America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link: –
Pet Snacks and Treats Market Growth
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