Pet Treats and Chews Market Summary
Pet treats and chews, encompassing eatable and chewable types, cater to dogs (604.5 million globally), cats (480 million), and other pets, enhancing behavior, health, and emotional bonding. The market thrives on pet humanization, where pets are treated as family, driving demand for premium, human-like treats like freeze-dried meats and CBD-infused products. Urbanization, rising pet ownership (85 million U.S. households), and digital purchasing trends fuel growth. Innovations in clean-label and sustainable packaging boost adoption. The global market is projected to reach between USD 25 billion and USD 36 billion in 2025, with a CAGR of 10.2% to 13.4% through 2030.
Regional Analysis
North America: The U.S. leads with high pet ownership and premium treat demand, while Canada focuses on natural products.
Europe: Germany, France, and the UK drive demand due to strong pet culture.
Asia Pacific: China sees growth from rising middle-class spending, while Japan emphasizes pet health.
Rest of the World: Brazil expands pet care, and India boosts treat consumption.
Application Analysis
Dogs: Expected growth of 10.3%-13.5%, driven by training and dental treats. Trends focus on functional ingredients.
Cats: Projected growth of 10.2%-13.4%, linked to health-focused treats. Developments emphasize palatability.
Others: Anticipated growth of 10.1%-13.3%, covering small animals. Advances prioritize variety.
Type Analysis
Eatable: Expected growth of 10.3%-13.5%, valued for nutrition. Trends highlight vegan and CBD treats.
Chewable: Projected growth of 10.2%-13.4%, key for dental health. Advances focus on durability.
Key Market Players
Leading firms include Mars, acquiring Champion Petfoods; Nestlé, scaling premium treats; The J.M. Smucker Company, boosting pet snacks; General Mills, acquiring Tyson’s pet treats; Wellness, focusing on natural products; Stella & Chewy’s, offering freeze-dried treats; Spectrum Brands, acquiring Armitage; Fromm Family Foods, targeting health; Freshpet, innovating in fresh treats; and Hill's Pet Nutrition, enhancing dental chews.
Porter's Five Forces Analysis
Threat of New Entrants: Moderate, due to brand loyalty and regulatory barriers, though niche startups can enter.
Threat of Substitutes: Moderate, as homemade treats compete, but commercial products offer convenience.
Bargaining Power of Buyers: High, with consumers seeking premium, affordable treats, amplified by online comparisons.
Bargaining Power of Suppliers: Low, with multiple ingredient providers.
Competitive Rivalry: High, with competition on quality, sustainability, and price.
Market Opportunities and Challenges
Opportunities:
Pet humanization and ownership (604.5 million dogs) drive demand.
Rising middle-class income in Asia boosts premium treats, while digital platforms and sustainable products enhance adoption.
Urbanization increases pet companionship needs.
Challenges:
High costs of premium treats limit access in low-income regions.
Regulatory scrutiny on ingredients slows growth.
Supply chain disruptions affect raw material availability.
Market News
In 2023, Mars Petcare completed the acquisition of Champion Petfoods.
In 2021, General Mills completed the acquisition of Tyson Foods’ pet treats business.
In 2020, Spectrum Brands acquired Armitage Pet Care.
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